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No <br />u <br />City of <br />Pequott <br />Lakes— <br />AGENDA ITEM #3.2 <br />REPORT TO <br />CITY COUNCIL <br />Date: August 2, 2011 <br />Subject: Lime Greenery TIF Payment <br />Report: The City just recently discovered that Sarah Dale <br />is assigning her interest in the TIF development agreement <br />to Lakes State Bank. The TIF payment on the check <br />register is payable to Sarah Dale. Per recommendation of <br />our City Attorney Paul Sandelin, staff is requesting to issue <br />the TIF payment to Lakes State Bank. <br />E -Mail Message from Paul Sandelin: <br />Sarah Dale is assigning her interest in the of development agreement and of payment to lakes <br />state bank. She is signing this tomorrow. When I have a signed copy I will forward that to the <br />city. At this point I think the city council should simply be aware of the assignment and that upon <br />approval of the of payment at the council meeting that the payment would be issued to the bank. <br />Any questions let me know. <br />Council Action Requested: Issue the TIF payment of <br />$2,938.01 for Lime Greenery to Lakes State Bank. <br />