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<br />. <br /> <br />. <br /> <br />. <br /> <br />MINUTES OF THE ARDEN HILLS COUNCIL WORKSESSION, 1-25-93 <br />Page 7 <br /> <br />EVEREST Nelson added that Everest would propose <br />GROUP (Cont'd) significant City participation with Tax <br />Increment Financing (TIF) and would be interested <br />in exploring both the bond method and the "pay as you go" method, <br />He said another possibility Everest would consider is being <br />designated as the developer of the property without ownership <br />through a program with City assistance. He explained how some of <br />Everest's past development projects have been arranged in this <br />manner. <br /> <br />In summary, Nelson stated that key ingredients to Everest's <br />involvement would be flexibility in the City's planning <br />requirements, specifically openness to light industrial uses, and <br />a mix of uses (perhaps 35% office/65% warehouse/industrial). He <br />stated that if three necessary elements (coordinated mixed uses, <br />TIF, and designation as exclusive site developer) could be worked <br />out, Everest would be interested in further pursuing this <br />project. He added that the purpose of this evening's <br />presentation was simply conceptual in nature, and obviously mOre <br />worksessions would be required to work out details. <br /> <br />Mayor Sather advised that this meeting would need to adjourn very <br />shortly because the chambers need to be used for another meeting. <br />He asked Council if they had any general questions at this time. <br /> <br />councilmember Malone asked what would be the next step if the <br />City were to be open to the three necessary elements Nelson <br />identified. Nelson stated that the next step would be to review <br />with staff an outline of intended uses, nature and intensity of <br />development, etc., and then present a preliminary draft <br />development agreement for the City's consideration. <br /> <br />Malone asked if Everest Or the City would be expected to perform <br />road improvements. Brief discussion took place as to the fact <br />that road improvements, critical t.o support this development, <br />would be a typical function of TIF. <br /> <br />Councilmember Hicks stated that the flexibility of uses would not <br />be an issue from his standpoint, and it appears that TIF is a <br />possibility that can be worked out, but he would like a clearer <br />understanding as to what would be involved by designating a <br />"exc I us i ve devel opeL'" . There was bri ef di scussi on regarding what <br />"exclusive developership" might entail. Hicks stated that he is <br />supportive of continuing on to the next step, which is to further <br />discuss Everest's concept in more detail. <br />