Title
Resolution Amending Resolution 214-14 Authorizing a Job Creation Extension to Kotis Holdings, LLC for the Design and Construction of Off-Site Public Water & Sewer Infrastructure Improvements to Facilitate Commercial Development and the Recruitment of New Jobs and Retail to East Greensboro at a Site Located at 200 Willowlake Road
Body
Department: Executive / Economic Development & Business Support
Council District: 2
Public Hearing: Thursday - August 15, 2017
Advertising Date/By: Tuesday - August 3, 2017
Contact 1 and Phone: Tom Carruthers - 336-373-2320
Contact 2 and Phone: Kathi Dubel - 336-373-4579
PURPOSE:
The City of Greensboro has been requested to consider an extension to an economic development incentive grant in the amount of up to $359,833.33 to Kotis Holdings, LLC for the reimbursement of off-site public water & sewer infrastructure improvements necessary to facilitate the commercial development of a site located at 200 Willowlake Road which was originally approved by Council on September 3, 2013, and amended on August 19, 2014. Kotis Holdings is requesting an extension until July 31, 2019 for the creation of 8 full time equivalent jobs.
BACKGROUND:
Kotis Holdings, LLC currently owns a 24-acre site at 200 Willowlake Road that they would like to develop as a large format retail center to include junior boxes, small, shops, and two out-parcels. The site will lie within one of Greensboro's existing reinvestment corridors as defined in the Urban Development Investment Guidelines once it is annexed into the City. In order to drive this development forward and bring retail options to an underserved part of east Greensboro, public participation is necessary to assist in bringing off-site public water & sewer improvements to the area. The City has reviewed the current water and sewer infrastructure in the area. To develop the 24 acre subject site, the City will need to extend the water line north up Willowlake Road from the 12" main currently ...
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