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AI# 12396
Regular City Council Meeting
5.23.
03/26/2024:
Information
Agenda Item
Resolution - Business Development:
Consider a resolution authorizing the City Manager to approve an Extension of Construction Time in connection with that certain City Tax Abatement Agreement No. 17471, with Dura-Line, LLC.
Item Summary
On July 25, 2023, the City Council approved Tax Abatement Agreement No. 17471 with Dura-Line, LLC. The terms of the original contract stated the following:
Construction Start Date: September 2023
Construction End Date: October 2024
Capital Investment: $46,700,000
Job Creation: 130 jobs
Due to the rapidly changing economic environment, Dura-Line has had to evaluate the timing of their allocation of resources. The company has requested an amendment to the original construction dates to the following:
Construction Start Date: February 2024
Construction End Date: December 2025
This request is for construction time only. Capital investment and job creation will remain the same. This resolution would authorize the City Manager to execute this amendment.
Fiscal Impact
None
Staff/Board Recommending
D. Blu Kostelich, Chief Financial Officer
Attachments
Resolution
Dura Line - Request for Extension (scan)
Dura Line Request Letter (scan)
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