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REQUEST FOR COUNCIL ACTION DATE: 10-24-82 <br />ITEM NO* ■ <br />Department ^ Approval: Manager Reviewed: Agenda Section, <br />< I Reports and Recommendations <br />C;A <br />Utem, Description*. Authiorizat]"Lon to enter into development <br />agreemientwi'th Birutger Co. <br />If the Cloncordila Project, and the Amendment to Tax Increment District <br />5 <br />#10 are iapprioved,, it Would be necessary for the City to enter into a <br />development agreement, with Brutger Company. The development <br />agreement woulid have these, basic e,lement,s. <br />FLi In Assessment agrielements and, construction requ. irements to ensure <br />41 <br />the required taxes <br />e <br />9 4 <br />2. Guarantees from, the deviel,loper f or th provision of th <br />w <br />required, taxes. <br />3 initial letters of credit from the developer to guarantee <br />construction.1 <br />COT�%CIL ACTION REQUESTED: Motion to approve/deny authorization to <br />enter 'into development agreement with <br />Brutgeir Co. <br />