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11-06-23 JDA
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11-06-23 JDA
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<br />Chair Wicklund anticipated this document would include clear, high level starting points. <br /> <br />Commissioner Frethem asked if the JDA Attorney had any comments regarding what should or <br />should not be included in the term sheet. Attorney Boulton stated she believed this was a good <br />starting point for the key elements and noted this project would continue to evolve, but this list <br />would help the JDA to focus their attention. <br /> <br />Commissioner Frethem indicated it would be good for the JDA to have the term sheet <br />completed by January in order to align with the bonding request timeline. <br /> <br />Commissioner Monson asked if covenants have been thought about versus a development <br />agreement. She stated it may benefit the JDA to have covenants in place in order to protect <br />affordability, sustainability and green energy goals. She supported the JDA exploring this option <br />versus a development agreement. Director Collins reported there was an existing <br />environmental covenant on the California site for remediation aspects. <br /> <br />Commissioner Monson explained the developer was looking at creating a stormwater district <br />within the development. She anticipated the City would have to find a funding source if this <br />were to proceed. She commented on the proposed water feature and stated she would love to <br />see this completed. She recommended a timeline be written into the term sheet in order to set <br />expectations. She asked if the Advisory Committee would be reviewing the term sheet prior to <br />this document coming before the JDA. Director Perrault anticipated staff would have some <br />language for each of the items in the term sheet for the Advisory Committee to review and this <br />document would then come to the JDA in December. <br /> <br />Chair Wicklund asked who would be attending the November Advisory Committee meeting. <br />Director Perrault stated Commissioner Fabel, Commissioner Frethem, city and county staff <br />members and consultants would be attending this meeting. Director Collins commented on <br />how financial assumptions would also be discussed at this meeting. <br /> <br />Commissioner Reinhardt recommended the expected tax base growth information for the Rice <br />Creek Commons development be gathered by staff. <br /> <br />Administrative Director’s Report <br /> <br />Director Collins reviewed the road map with the JDA. She explained the JDA would be reviewing <br />the term sheet and looking ahead to 2024 at the December meeting. <br /> <br />Commissioner Monson asked if a consultant has been decided for the Energy Advisory <br />Committee. Larina DeWalt explained staff had reviewed a list of consultants but staff has now <br />been determined that it would be better to go through an RFP process. <br />
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