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, , <br /> ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> Memo No. 07-10 <br /> January 31, 2007 <br /> TO: Honorable Mayor Paul Osborne and City Council Members <br /> FROM: Steve G City Manager ��' , <br /> Greg Cro , irector of Economic &Urban Developmen'�Xi <br /> SUBJECT: Agreement with Jackson Family, LP and B-1 Logistics for reimbursement of site <br /> improvement costs. <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached resolution <br /> authorizing an agreement with Jackson Family and B-1 Logistics for reimbursement not to <br /> exceed$22,000 for storm and sanitary sewer improvements. <br />� BACKGROUND: The Jackson Family currently owns and operates World of Power Sports <br /> located at 2635 North 22°d Street. They are planning on expanding their business by building <br /> and leasing a wazehouse and distribudon facility to the west and adjacent to their current <br /> location. The new facility will be located on Pythian Avenue and will be leased to B-1 Logistics <br /> that will operate a parts distribution center. <br /> B-1 Logistics is projected to create 27 new full-time jobs and retain 23 existing full-time jobs. <br /> The project has been approved for EDGE funding by the Illinois Department of Commerce and <br /> Economic Opportunity (DCEO). Total capital investment in the project is expected to exceed $2 <br /> million. <br /> Substantial site improvement costs including the installation of new storm and sanitary sewer <br /> mains are necessary to facilita.te the proposed expansion. The attached agreement will provide <br /> up to $22,000 in reimbursable expenses for the cost of insta.11ing the storm and sanitary sewer. <br /> POTENTIAL OBJECTIONS: N/A <br /> INPUT FROM OTHER SOURCES: N/A <br /> STAFF REFERENCES: If Council members have questions they may contact Greg Crowe, <br /> Director of Economic and Urban Development,424-2727, or at gccrowe@decaturnet.org <br /> BUDGET/TIME IMPLICATIONS: The $22,000 in reimbursement will be taken out of the <br /> Planning Fund. The added sales taac revenue generated from the project in the first five years is <br /> expected to offset the site improvement reimbursement. <br />