Memorandum                    

City of Lawrence

City Manager’s Office

TO:	Thomas M. Markus, City Manager
FROM:	Diane Stoddard, Assistant City Manager
DATE:	April 4, 2016
CC:	Casey Toomay, Assistant City Manager Britt Crum-Cano, Economic Development Coordinator
RE:	Recommendation to Table Consent Agenda Item relating to the issuance of IRBs for 800 New Hampshire project

The consent agenda for the April 5, 2016 meeting includes an item for the second reading of the ordinance authorizing the issuance of IRBs for the 800 New Hampshire project.  This afternoon, bond counsel informed me of some correspondence from the developer that a real estate transaction was being recorded this afternoon to transfer some of the project from Compton Holdings, L.C. to 800 New Hampshire, LLC.  As a result, some of the ancillary bond documents will need to be adjusted.  Tabling the item will allow time for this redrafting to occur and the item will be placed back on a future agenda for consideration.  Therefore, I recommend tabling this item indefinitely. Please advise with questions.