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| ORIGINATING DEPARTMENT: |
COUNCIL GOAL: |
| Economic Development |
Ankeny as a Successful Business Center |
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ACTION REQUESTED:
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| Resolution |
| LEGAL: |
| No Review Required |
| SUBJECT: |
| Consider a motion to adopt RESOLUTION setting a public hearing on a development agreement between the City of Ankeny and Ryan Companies US, Inc. (date of hrg: 6/1/2020 @ 5:30 p.m.) |
| EXECUTIVE SUMMARY: |
| Ryan Companies US, Inc. is proposing to construct an approximately 350,000 square foot warehouse on approximately 35 acres located at 5800 SE Delaware Avenue in the City of Ankeny. If approved, construction is expected to begin within six months. |
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FISCAL IMPACT:
No |
| The final terms and details of the proposed development agreement are still being negotiated, but include property tax rebates consistent with the City's Local Business Investment Policy. The terms of the proposed agreement shall require Ryan Companies US, Inc. to secure a tenant for their building, meeting specific criteria, prior to issuing any rebate payments. |
| CITY MANAGER'S RECOMMENDATIONS: |
| To approve setting the public hearing for June 1, 2020. |
| PREVIOUS COUNCIL/COMMISSION/BOARD ACTION(S): |
| N/A |
| PUBLIC OUTREACH EFFORTS: |
| A public hearing will be held June 1, 2020. |
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