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f <br /> � � , . <br /> . , , <br /> C ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> No. 07-123 <br /> November 14, 2007 <br /> TO: Mayor Paul Osborne and City Council Members <br /> FROM: Steve G City Manager <br /> Greg Cro ssistant City Manager of EUD�� <br /> SUBJECT: Amended Redevelopment Agreement, 101 East Prairie Avenue <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached <br /> amendment to the approved redevelopment agreement for the building located at 101 <br /> East Prairie Avenue. The proposed amendment is necessary since the building is being <br /> sold to the Howard Buffett Foundation and the use of the third floor is changing from the <br /> original intent of the Agreement. <br /> BACKGROiTND: The redevelopment project was approved by the City Council on <br /> October 17, 2005. At the time, the developer anticipated the second and third floors <br /> being developed for residential use. T'he second floor has already been remodeled for <br /> residential use. The Howard Buffett Foundation intends to use the third floor for office <br /> space and the second floor for residential. <br /> The fa�ade renovations have been completed on the building. <br /> POTENTIAL OBJECTION: Staff is not aware of objectors to this agreement. <br /> INPUT FROM OTHER SOURCES: The proposed amendment has been reviewed for <br /> consistency with the Olde Towne TIF Redevelopment Plan by Economic & Urban <br /> Development and Corporation Counsel. <br /> STAFF REFERENCE: Any additional questions may be forwarded to Greg Crowe at <br /> 424-2727 or gccrowe@decaturnet.org <br /> BUDGET/TIME IMPLICATIONS: N/A <br />