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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> No. 09-81 <br /> October 14, 2009 <br /> TO: Honorable Mayor Michael T. McElroy d City Council <br /> FROM: Ryan P. McCrady, City Manager �' <br /> Greg C. Crowe, Assistant City Manage��� <br /> SUBJECT: IP Plaza Redevelopment Agreement Amendment <br /> RECOMMENDATION: Staff recommends City Council approve the ordinance amending the <br /> Redevelopment Agreement between IP Plaza, LLC. and the City of Decatur. <br /> BACKGROUND: The City entered into a redevelopment agreement with IP Plaza, LLC. on <br /> November 6, 2006 to redevelop the former K-Mart store in the Eastgate Commons <br /> Redevelopment Area and TIF District. The attached amendment will ensure the City's intent to <br /> reimburse the Developer's eligible redevelopment project costs. <br /> INPUT FROM OTHER SOURCES: Corporation Counsel has reviewed the amendment. <br /> STAFF REFERENCE: Any additional questions may be forwarded to Greg C. Crowe at 424- <br /> 2727 or at gcrowe@decaturil.gov <br />