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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: October 11, 2010 <br /> <br />Appropnatlon <br /> <br />Requested By: Ron Bottoms <br /> <br />Source of Funds: <br /> <br />Department: Administration <br /> <br />Account Number: <br /> <br />Report: ~Resolution: ~Ordinance: ~ <br /> <br />Amount Budgeted: <br /> <br />Exhibits: <br /> <br />Ordinance <br /> <br />Amount Requested: <br /> <br />Exhibits: <br /> <br />Mutual Termination Agreement <br /> <br />Budgeted Item: <br /> <br />YES <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Attached is an ordinance and Mutual Termination of Tax Abatement Agreement tew your review and <br />consideration. Packwell and P0I1er Road Venture L.P. failed to meet the terms of their tax <br />abatement agreement with the City of La P0I1e and have remitted back taxes to the City in the <br />amount of $116,678.16. <br /> <br />Action Required hv Council: <br /> <br />Council approve the attached ordinance authorizing the execution of the Mutual Termination of Tax <br />Abatement A reement. <br /> <br /> <br />Ron Bottoms, City Manager <br /> <br />/1 A- ~c) <br /> <br />. <br /> <br />Date <br />