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Administration Finance Committee backs TIF redevelopment deal for Sir Commercial; approves $643,271.14 warrant
Summary
At its Jan. 6 meeting the Administration Finance Committee approved minutes and a $643,271.14 warrant and recommended Resolution 3R25, a TIF redevelopment agreement with Sir Commercial Inc. for improvements to a flex building at 9,958 North Alpine Road, to the Jan. 21 board meeting.
The Administration Finance Committee approved routine minutes, cleared a $643,271.14 warrant and voted to send Resolution 3R25 — a tax-increment financing redevelopment agreement with Sir Commercial Inc. — to the board with a positive recommendation at its meeting on Jan. 6, 2025.
The committee approved the minutes from Dec. 16, 2024, on a motion from Mr. VanVleet, seconded by Mr. Vitale. The committee then approved a warrant totaling $643,271.14 on a motion from Trustee Bailey, seconded by Mr. Simons; the chair said the warrant will go to the board meeting with a positive recommendation.
A staff member summarized Resolution 3R25 before the committee voted. "Resolution 3R25 is for TIF redevelopment agreement with Sir Commercial Inc. For improvements to a flex building at 9,958 North Alpine Road that serves as an incubator for local small businesses. Please let me know if you have any questions," the staff member said. The committee moved and seconded the resolution and voted to forward it to the Jan. 21 board meeting with a positive recommendation.
There were no reports and no public comments at the meeting. The committee adjourned after the votes.
Votes at a glance - Approve minutes (Dec. 16, 2024): Motion to approve by Mr. VanVleet; second by Mr. Vitale; outcome: approved (voice vote; no roll-call tally recorded in transcript). - Approve warrant totaling $643,271.14: Motion to approve by Trustee Bailey; second by Mr. Simons; outcome: approved; note: warrant will be forwarded to the board with a positive recommendation. - Resolution 3R25 (TIF redevelopment agreement with Sir Commercial Inc., improvements to a flex building at 9,958 North Alpine Road): Motion by Mr. Simons; second by Mr. Vitale; outcome: forwarded to the Jan. 21 board meeting with a positive recommendation.
Next steps: Resolution 3R25 will appear on the board agenda on Jan. 21, 2025, for final consideration.
