Incentive Money Information Request

All,

 

As many of you probably know, the developer's agreement that will enable B&B movie theater to come to Ozark will be decided tonight.  I have voiced some concern over $300,000 of 'economic insentive' money that will be given to the project in the form of tax cuts.  This will be on top of $342,000 in tax cuts for infrastructure in the project area.  I requested specific information on how the economic incentive will be used and PlazaCorp sent the following response.  It appears the money will be used for building construction costs.

 

I am still undecided on this issue, and it will be a tough decision for me to make.  Any input you have on this would be greatly appreciated.

 

Thanks and Have a Great Day!!

Melissa Wagner
417.231.1045
www.ozarkmissouri.blogspot.com
www.twitter.com/melissadwagner

From: mchilcott@plazacorp.net
To: dvcollig@msn.com
CC: DPOLK@ArmstrongTeasdale.com; cityplanner5@msn.com; jan@plazacorp.net; byore@plazacorp.net
Subject: Alderwoman Wagner Information Request
Date: Fri, 4 Sep 2009 11:10:50 -0400

Dave:
Following, please find a brief description of the proposed use for the $307,400 to be provided by way of the Incentive Agreement.  The $307,400 will be utilized to fund eligible hard costs associated with the construction of the B&B building shell, which includes, but is not limited to, the following primary construction elements: exterior walls, building facade including store fronts, building structure, and roof.
I hope this satisfies Alderwoman Wagner's information needs.  If you desire additional information and/or clarification, please advise.
Mark


Mark K. Chilcott
PlazaCorp Realty Advisors, Inc.
211 East Water Street, Suite 201
Kalamazoo, Michigan 49007
Ph: (269) 383-5775
Fx: (269) 383-5774
Email:  mchilcott@plazacorp.net

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