Developer designation on tap
Council to be asked to OK Towne Center ‘developer of record’ at meeting tonight
Lansing City Council will consider an agreement to designate Lansing Towne Center LLC as the "developer of record" for the Towne Center project.
The council will consider the agreement at its meeting today, May 3, at City Hall, 800 First Terrace. The meeting begins at 7 p.m.
The agreement says the developers have submitted an application to the city for the use of Tax Increment Financing for the remaining parcels; a public hearing is scheduled on May 24 to discuss the TIF.
A TIF looks at how much tax revenue a particular area is generating today, and then looks at how much tax revenue it generates once the project is complete. The additional tax dollars generated by the project are captured and set aside to pay for public infrastructure related to the project, such as parking, streets or groundwork produced by the city to facilitate the project.
The agreement also designates the developers to assume the costs of further preparing the area for development, including any eminent domain action taken by the city to acquire property within the district. The term of this agreement is 120 days from execution.
Also on the council's agenda tonight:
¢ Consider minutes from the April 19 meeting and the April 26 special meeting
¢ Elect a council president. Ward 3 Council member Don Studnicka has served as president the past year.
¢ Council members Dee Hininger and Janette Labbe-Holdeman will take an oath of office after winning election on April 3.
¢ Ken Miller, project liaison, will give his monthly Main Street Enhancement Project Update.
¢ Mayor Kenneth Bernard will proclaim May 6-12 Building Safety Week.
¢ The mayor also will proclaim May 12-20 National Tourism Week and May 12-18 Lansing Police Week.
¢ Consider reappointment of Timothy Cahill to a three-year term on the Board of Zoning Appeals ending April 20, 2010.
¢ Consider a request from John Leonard, acting as the agent for Lansing First Southern Baptist Church, for a conditional use permit for the operation of a preschool at the church in conjunction with the local Women's Community Y.
¢ Consider an agreement for the purchase of real property with the Municipal Services Building
¢ Consider a resolution to authorize a lease purchase agreement for a street sweeper.