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Council to consider amended TIF development agreement for Hutchinson Landing LLC
Summary
The council will consider a resolution authorizing an amended and restated development agreement with Hutchinson Landing LLC to update a TIF agreement because of additional qualifying expenses, according to the agenda preview.
Magionic, Hutchinson City Administrator, said the council will consider a resolution authorizing execution of an amended and restated development agreement with Hutchinson Landing LLC to update the project's TIF agreement.
He said the revision responds to additional expenses that are qualified for TIF funding; the agenda preview did not specify the dollar amounts, which expenses qualify, or the effect on the TIF schedule or tax increment projections.
The item was listed under new business for Jan. 27 and was described as a resolution to authorize execution; the agenda preview did not include a council vote or further details about timelines or fiscal impacts.
