CCWS 01-31-2005 - Laserfiche WebLink

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ARDEN HILLS WORKSESSION MINUTES JANUARY 31, 2005 3 . Mr. Clark noted some other fees they need to consider were park dedication fees. Councilmember Grant asked what policy decisions would the Council be required to make in the future. Mr. Inman replied they would need to know if Council wanted a look back provision, and how much risk tolerance did they want. Ms. Kvilvang stated there might be some business points the Council absolutely had to have and once t11ey got these ideas from Council, they could bring those to the developers. She noted where business development standards were today was where the market was. Councilmember Larson asked what the considerations were in setting up the TIF districts. He noted large portions of the project area they were not intending to develop. Mr. Inman replied the TIF plan was a finance plan. Ms. Kvilvang noted the primer tracer area was not included in the TIF district at this time, but it could be added if the City wanted to add it. Mr. Clark statcd that the exact amount of public financing needed to complete the TCAAP project can not be estimated at this time. The next step in the process, after review and action on the Economic Development Commission's policy recommendations will be the City and the . developer constructing business terms. Past of that process will be the creation of TIF estimates. Councilmember Holden stated at one time they had discussed what they were willing to give as TIF. Mr. Clark rcplied it appeared the primary goal was to do the TCAAP process and if they could have both, that would be ideal, but right now he did not know what the number was in terms of what the project would take in terms of public financing. Mr. Inman noted interest rates would also affect this because interest rates are what drive the market. He statcd what made it difficult was estimating where the market was going to be in the future. Councilmember Holden asked who applied for the grants. Ms. Kvilvang replied the City would apply for them. Councilmember Larson asked where did the cost of clean up come in under their analysis. Ms. Kvilvang replied those figures were not in the figures they presented - they assumed the land was clean in those figures. Mr. Clark asked what additional information did the Council want to see to get more comfortable with this, or did they want to wait until the EDC recommendations at the end of the month. . Councilmember Larson stated he would find it helpful to have a list of all of the issues Council might need to make decisions on.