|
|
| ORIGINATING DEPARTMENT: |
COUNCIL GOAL: |
| Economic Development |
Ankeny as a Successful Business Center |
|
ACTION REQUESTED:
|
| Resolution |
| LEGAL: |
| No Review Required |
| SUBJECT: |
| Consider motion to adopt RESOLUTION setting public hearing on an amendment to an existing development agreement between the City of Ankeny and Kreg Enterprises, Inc. (date of hrg: 12/2/2019 @ 5:30 p.m.) |
| EXECUTIVE SUMMARY: |
| This amendment adjusts the scope of Kreg Enterprises, Inc. proposed project from a 250,000 square foot facility, as originally proposed, to an approx. 175,000 square feet facility and provides Kreg an additional six (6) months to commence construction on their proposed office and production facility. The original development agreement approved December 17, 2018, required Kreg to commence construction, defined as footings in the ground, within eighteen (18) months of approval. A six (6) month extension would give Kreg until December 17, 2020 to commence construction. Construction is scheduled to begin in spring, 2020. |
|
FISCAL IMPACT:
No |
| This amendment gives Kreg Enterprises, Inc. additional time to begin their project and revises the footprint of their proposed facility . The terms of the agreement have not changed. |
| CITY MANAGER'S RECOMMENDATIONS: |
| To approve setting the public hearing for December 2, 2019. |
| PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S): |
| The City Council held a public hearing and approved a development agreement for this project on December 17, 2018. |
| PUBLIC OUTREACH EFFORTS: |
| A public hearing on the original development agreement was held on December 17, 2018. |
|
|
|