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City Clerk <br /> DATE: 9/26/2022 <br /> MEMO: <br /> TO: Honorable Julie Moore Wolfe <br /> City Council Members <br /> FROM: Jon Kindseth,Deputy City Manager <br /> SUBJECT: Resolution Authorizing A Redevelopment Agreement with CCI Properties LLC <br /> BACKGROUND: The concrete mix site is connected to the city's water system,but it is a 1-inch line,and the plant needs a 4- <br /> inch line;so the the RDA provides that the city will reimburse the costs for a larger water line to serve the property.The <br /> proposed RDA provides a building permit fee waiver and a modest partial property tax abatement.The total value of this <br /> abatement incentive is approximately$50,000 over 15 years.The city expects to collect sales taxes from this development that <br /> are in excess of$100,000 per year--meaning that the city recovers the cost of its tax and fee incentives in the first full year of <br /> plant operation.This RDA package keeps the new plant in the city,improves the city's water distribution system,and increases <br /> local concrete production capacity. <br /> ATTACHMENTS: <br /> Description Type <br /> CCI Redimix Memo Cover Memo <br /> Resolution CCI Redmix Resolution Letter <br /> CCI Redimix RDA Backup Material <br />