06-13-05 - Laserfiche WebLink

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. . . ~ ~HILLS MEMORANDUM DATE: June 7, 2005 TO: Mayor and City Council Michelle Wolfe, City Administrator FROM: Scott Clark, Community Development Director SUBJECT: TCAAP Land Negotiation Discussion Points The purpose of this Council Work Session is to discuss strategies and issues associated with advancing the TCAAP process. Staff assumes that by June 13, 2005, the General Services Administration, GSA, will formally, through a letter, reject the City's term sheet offer of $35,000,000 for the TCAAP land value and will articulate a time line for a reappraisal. The following is a proposed outline for discussion of the current key issues, Land Offer Issues (to be discussed at the closed session). · What issues are pending that could affect negotiations? · How will the City respond to the GSA's land offer in the future? If the offer is in excess of $35,000,000, what type of information will the Council need in order to support a new value? Staff views that one strategy would be to negotiate the terms in the purchase offer prior to the new appraisal being released. The terms in the offer are just as, or even more, of a concern to the development team. A key issue on this point is who will pay for those negolialions (this will involve Mike Comodeca) which gets into the issue of a new Interim Agreement. General/Future Directions · Is the Council in agreement wilh continued support ofthe TCAAP redevelopment? · Based on an assumption that a reappraisal will take four months plus to finalize, does the City want to "park the project" and do nothing during this time period, or does the Council want to advance various component parts of the process? · The three processes that could logically be advanced during this period are: 1) Continue our efforts to have the Army complete a draft FOSET document 2) Have the environmental regulators finalize the Response Action Agreement (known commonly as the Consent Agreement)