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project is to move forward, the developer will need to cut costs, or find investors willing <br />to take a lower margin. <br />To best equip the developer to reimagine the project in a way that can work, the City <br />Council may wish to provide feedback on which, if any, of the financial incentives above, <br />they may be willing to offer. <br /> <br />StaffÓs recommendation would be to consider some combination of Tax Abatement and <br />waiver of Water Access Charges, not to exceed $500,000. With this proposed offer, staff <br />suggests ensuring that the proposed project includes amenities that benefit the <br />community, such as rentable meeting space and a swimming pool which offers access to <br />the public for a fee. Additionally, the city may ask to have enhanced architectural <br />requirements or brand sign-off, in exchange for the assistance. <br /> <br />These issues are being presented at a City Council work session for initial discussion. <br />Prior to formalizing and committing to any developer incentives, a public hearing would <br />need to be held. If the City Council wishes to seriously consider such incentives, they <br />should call for a public hearing. Formal actions to memorialize these incentives would <br />be presented after the hearing. <br /> <br />