Title
Conceptual Economic Development Incentive Request for O’Reilly Senior Living Community, 5101 NE Lakewood Way; O’Reilly Development Company, LLC, applicant
Body
Issue/Request:
Incentive request by O’Reilly Development Company, LLC, for a senior living facility on approximately 12 acres located at 5101 Lakewood Way, which is east of I-470 and north of Bowlin Road.
Key Issues:
Evaluation of an incentive request under the City's Economic Development Incentive Policy in the form of (1) sales tax exemption on construction materials and (2) 50% real property tax abatement for a period of 10 years.
Background:
The attached presentation slides from the applicant provide project information and data.
Impact/Analysis:
The City’s presentation slides provide an initial analysis and evaluation of the request.
Presenter
Curt Petersen, Polsinelli P.C., attorney for applicant
David Bushek, economic development legal counsel for the City