City of Oak Creek

Common Council Report

Meeting Date:  February 19, 2007

Item No.:        

Recommendation:  That the Council authorize the City Administrator and Mayor to enter into an agreement with Gruen, Gruen & Associates to analyze developer requests for financial assistance within tax incremental financing (TIF) districts.

Background:  At their meeting of January 16, 2007 the Common Council authorized staff to retain a financial advisor to analyze developer requests for financial assistance within Tax Incremental Financing (TIF) districts.

After review of materials submitted by the S.B. Friedman Co. and Gruen, Gruen & Associates, as well as interviews with both firms, the staff working group for TIF #7 is recommending that Gruen, Gruen & Associates be selected to perform this analysis on the City’s behalf.  This group felt that Gruen, Gruen & Associates would be more responsive and economical in providing this service.

Attached is an engagement letter between the City and Gruen, Gruen & Associates that outlines the terms of the working relationship.

Fiscal Impact:  This is a TIF eligible cost that would be recovered through the increment generated by the district, or via preplanning expense agreements.

Prepared by: Doug Seymour, AICP Director of Community Development	Respectfully submitted, Patrick DeGrave City Administrator
Fiscal Review by: Beverly A. Buretta, CMC City Clerk