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SUBJECT: FOUNDRY BUILDERS APPLICATION FOR ASSISTANCE <br />DATE: JUNE 12, 2017 <br />PAGE 2 OF 3 <br />The Site Plan for Delo Lofts is attached. <br />Request <br />The project is requesting an additional $1,000,000 for public infrastructure within the <br />Core Area. Foundry Builders describes the needed improvements as "catalyst <br />improvements (primarily associated with grading constraints) to DeLo Lofts East and <br />West, additional public and private improvements benefiting the Deborski parcels and <br />Coal Creek Collision, and other public improvements, most notably, the relocation and <br />enhancement of the "miners cabins" to Nawatny Greenway." <br />Staff did not receive any additional documentation or detail related to the design or cost <br />estimates of the request. <br />Regarding the miner's cabins to Nawatny Greenway, City Council on June 6th directed <br />city staff to pursue two locations for the miner's cabins. Those locations are John <br />Breaux Park on Front Street and the intersection of Highway 42 and Pine Street. <br />Nawatny Greenway was not selected as a possible location. <br />Analysis <br />Staff conducted a revenue analysis to determine if the project would generate sufficient <br />revenue to pay off the $1,000,000 additional funding prior to the end of the TIF revenue <br />generation period. Below are the assumptions and analysis. <br />COUNCIL COMMUNICATION <br />