HomeMy WebLinkAboutRES 25-084 To: Cl�ristopher S_ Boone, City Manager and Sharae Reed, City Attorney
From= Demi Engman, Director of Plar�iiing 8c Community Development
RE= Terniinate NEZ agreement Por project located at 450 Bowie
April 30, 2026
Dear Mr_ Boone and Ms. Reed,
By Resolution No_ 25-084, the City Council authorized the City Manager to enter into an
agreement providing the Developer the £ollowing Neighbortiood Empowerrr�ent Zone �NF_Z)
incentives=
"1_ Waiver of building permit fees;
2. Expedited pexzi�it review; and
3_ A Chree-year abatement of 100% of tlie incremental tax_
OnApril 21, 2026, Stoney Petit ofBowie O�ce, LLC requested that stafFterminate the agreement
because the building will be sold_ I reviewed tiie agreement and confixziied tliat tlze Developer
completed tlie project and received a Certificate of Occupancy on June 29,2025. Wliile occupancy
of the structure is preferable, it does not appear to be a requirement of the agreement_ The City
waived a total of$6,606_54 in building permit fees for tl-iis project_
I recommend accepting the petition to texziiinate tlze tax abatement incentive, as tlze abatement is
binding on the property owrier and nontransferable.
I do not recommend seeking reimbursement of tl�e waived permit fees because the Developer
satisf3ed the agreement's conditions and obligations and completed the required improvements_
Tl-ie petition will be filed with the City Clerk and retained by the Planning 8t Community
Development Department_
Attacl�ments: Resolution No. 25-084,tY�e agreement, and tlie Developer's petition to teriTiinate the
agreement_
Please let me know if any additional action is necessary.
Tlzank you!
CC: Jes Prince, Community Services Manager
Tina Broussard, City Clerk