Consider and take action on Resolution No,. 17-02, entering into an agreement with Rise Surf LLC for incentives to revitalize the TCEDC-owned property located at 1201 6th Street North. 

Rise Surf LLC contacted City staff looking for a property on 6th Street where he could establish a surfboard manufacturing and retail business. The property located at 1201 6th Street was identified as the best location for his business and provided an opportunity to revitalize a dilapidated building on 6^th Street. This property was donated to TCEDC as approved in Resolution 16-25 on 12/21/16, but the building is in need of roof replacement and interior demolition and remodeling estimated to cost $75,000. It is proposed that TCEDC gives the property to Rise Surf LLC t and $25,000 as an incentive to restore and beautify the property within 6 months of the agreement.