The key conditions of the proposed development agreement are:
1) The Development Agreement requires the Mill Farm Partners, L.L.C- to build a 32-unit affordable multi-family complex in the View Point subdivision in Pella with a construction investment of approximately $5.2m million. The units will be Section 42 Housing with half of the units ADA-accessible.
2) The Development Agreement requires the developer to maintain units as Section 42 Housing for at least 30 years. In addition, the agreement restricts the Mill Farm Partners from converting any of the units to
Section 8 Housing prior to the termination date of the agreement which is December 31, 2043.
3) The Development Agreement authorizes property tax: rebates through tax increment financing over a fifteen year period time up to a maximum of $290,000. In addition, the agreement also includes development fee waivers of up to $20,000 (i.e. building permit fee, engineering review fees, etc.).
In other business
-Council approved a resolution for Change Order No. 3 for the Sents Creek Equalization Basin and Lift Station No. 2 Improvements. This resolution approves Change Order No. 3 in the amount of $32,115.53 with C.L. Carroll Co. Change Order No, 3 contains 9 items that were design improvements made during construction and quantity adjustments that were not known prior to starting construction.
-Council approved a resolution accepting Professional Services Agreement between The City of Pella and DeWild Grant
Reckert and Associates Company (DGR) in Connection with the Supervisory Control and Data Acquisition (SCADA) Upgrades in the amount of $58,700 for the design of electrical relays and communication processors for the City’s 12.5kV distribution system to allow them to communicate with the City’s electrical SCADA system thru the electric utility’s fiber optic network. An electrical relay is a protective device that signals the electrical breaker when to open. The advantage of having the relays communicate across fiber is that it will provide enhanced protection and the ability to clear electrical faults and other problems on the system in more timely fashion than we are currently able to. Staff also believes by enhancing communication between the relays we will improve coordination, thereby improving system reliability.