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Phase IV Policy/TCAAP Process March 16, 2005 Page 2 of3 case, the City selected the developer, created a community based plan and then is effectively contracting with the developer to build the Vision. This is a true private/public partnership by definition. . As illustrated in the attached flow chart, nothing goes forward until the City agrees to a TCAAP Framework Vision and adopts some policies illustrating the willingness of the City to move forward with public financing. If this does not occur, it would be anticipated that CRR, Inc. would dissolve their relationship with the City since they have no foundation for a plan and no ability to fund potential economic shortfalls. . The next step after adoption of the TCAAP Framework Vision and Public Financing Policies would be to enter into a new Interim Agreement with CRR, Inc. The purpose of the Agreement would be to bridge the time between when the most current Interim Agreement expires (early May) and the time of adoption of a Master Development Agreement Obviously, the critical element of a new Interim Agreement is the City's need to fund additional steps that are needed to continue to meet the goal of implementing the TCAAP project objectives (again shown on the initial attachment) including: . Funding of attorney's time in the FOSTIFOSET process . Development of a Local Resources Plan . Funding our contractual costs for financial and attorney time for negotiations of a Master Development Agreement . Costs associated with Phase IV Planning . Phase IV serves to move the TCAAP Framework Vision to the next level of specificity (the final level of specificity will come through the special use permit/planned unit development process). Key elements include: . Detailing infrastructure improvements. Examples ofthis type of improvement are: transportation issues, phasing, how project storm run-off will be addressed and how to use the central water feature as both an amenity and functionally, etc. . Issues of density will be addressed. It is my assumption that the consultant will work with the Planning Commission to develop recommendations for the Council on this issue. A critical part of that discussion will be reviewing different residential housing products. At the February Planning Commission meeting, a number of Commissioners stated that their concern was not density, in and of itself, but the look of the product . As needed, explore project cost alternatives, if specific costs of the Plan are too high or if a better costlbenefit could be achieved. . Economic development and market analysis Refinement of phasing . Design guidelines . . .