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ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> No. OS-201 <br /> October 5, 2005 <br /> TO: Mayor Paul Osborne and City Council Members <br /> FROM: Steve G City Manager <br /> Dane Brag ssistant City Manager� <br /> SUBJECT: Redevelopment Agreement, 101 East Prairie, Conklin Building <br /> RECEIVE AND FILE ONLY <br /> SUMMARY RECOMMENDATION: Staff recommends approval of the attached <br /> resolution to receive and place on file the attached redevelopment agreement to <br /> rehabilitate the Conklin building located at 101 East Prairie Avenue. No official action <br /> will be taken on this agreement until the October 17 meeting. <br /> BACKGROUND: The subject property was vacated by Merchant Street Antiques in <br /> July, 2005. Olde Towne Development, LLC has since purchased the building and intends <br /> to convert the upper stories into four market-rate condominiums. The first-floor will <br /> remain in retail/commercial uses. <br /> The agreement will be presented to the City Council on October 17, 2005 far � <br /> consideration. City staff and the developer's representative will be available to discuss <br /> the proposed project at that time. <br /> POTENTIAL OBJECTION: N/A. <br /> INPUT FROM OTHER SOURCES: The proposed project is consistent with the goals I <br /> of the Olde Towne TIF Redevelopment Plan. �, <br /> STAFF REFERENCE: Any additional questions may be forwarded to Dane Bragg at ��, <br /> 424-2727 or dbrag�cu,decaturnet.or�. ', <br /> BUDGET/TIME IMPLICATIONS: N/A. �I! <br />