Notes for the Work Session - 5-31-24

______________________________________________________________________________ CITY OF TIFFIN CITY ADMINISTRATOR REPORT TO THE CITY COUNCIL – NOTES FOR WORK SESSION ITEMS May 31, 2024 • Clint Wienen from MSA will be at the work session to discuss and review the 60% complete design drawings for the Water Treatment Plant upgrade. He will also update the council on the bidding timeline and the possibility of pre-ordering some of the equipment to better ensure the completion date of the project. • Ryan Fitzpatrick with both Cushman & Wakefield and Honey Lane Development will be at the work session to discuss with the Council the second phase of the Tiffin West Commercial Development. Honey Lane Development needs to decide whether to continue moving forward with phase two of the development which would be the full installation of the road, utilities, grading, etc. Attached is the preliminary plat of Tiffin West which shows phase two represented by the highlighted light blue area (and the area/lots it opens up). Their challenge is the cost of the improvements and would like to discuss with the council the possibility of a development agreement requesting a not-to- exceed amount of $600,000 via a TIF rebate only from Lots 2B, 3, and 4. Honey Lane Development believes this improvement will provide a higher value to the community and will allow the development to have approximately 18.40 acres of immediately available ground for sale/development. The City would have no out-of-pocket expense as it will be the developer’s risk that in order to receive the requested funds, they will be required to either develop/build the improvements to create the increment or sell the ground to other businesses to construct the improvements. Honey Lane Development is planning to provide the estimated costs of development, the working pro forma of the development and answer any questions the Council may have regarding this request.