CCP 10-27-1997 - Laserfiche WebLink

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DRAFT ARDEN HILLS EDA MEETING - OCTOBER 14. 1997 7 . Commissioner Malone stated while the brick is interesting, it requires more TIF. He would support additional TIF only for soil corrections and not for additional brick. Mr. Todd reviewed the soil borings where they experienced perched water and clay. President Probst commented on the need for additional cost estimates with regard to soil excavation and transportation. He stated he is intrigued at the option of upgrading the building. However, if a larger investment is required then he wants to be in a stronger position for what will happen on the corner. Commissioner Hicks inquired regarding the pereentage relating to transportation of soil exported off the site. He stated he assumes there is a cost to purchase and bring in additional sand as well. He asked how much the dollar figure can be reduced if the soil can be exported to a close location on City property. Mr. Todd reviewed the types of work that are included in that dollar figure. Commissioner Hicks stated that President Probst has raised a good point about the benefit of an upgrade with regard to the visual appearance and indicated he remains open for further discussion on that issue. President Probst stated he is thinking about a range of$IOO,OOO to $150,000 rather than the . higher end. Commissioner Aplikowski expressed concern about using all of the TIF and suggested the Belair Construction proposal may be a bit inflated. She stated she is not ready to commit to the full TIF amount they are requesting but believes the soil correction portion should be considered. President Probst stated the basic issue is whether the EDA will consider all or part of this request. Commissioner Keirn stated she could agree to participating in moving the soil but is not sure about the brick upgrade. She explained that without the other three estimates she is not comfortable in knowing how to word the agreement to protect the City. President Probst suggested considering a "cap" and structuring the wording so staff can review the final numbers so if they are less, the amount of TIF assistance will be reduced. Mr. Ruff asked why a pay-as-you-go will not work for the applicant. Mr. Zehring explained that access to the initial capital does not exist to pay for the incremental increases in cost. Mr. Ruff asked ifthere is a limitation of capital within the partnership. Mr. Zehring stated they are pretty well maxed out in the way this has been structured and had done the Apache project so they could put that cash in the system. . ---