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ARDEN HILLS CITY COUNCIL -FEBRUARY 12,2007 5 Councilmember Holmes stated there seemed to be other things that needed to take place, such as remediation and insurance and asked why those were not in Section 1. Mr. Burbul responded those were things that were part of the implementation process and those were handled in the scope of the OTP. He stated they had to determine what were the final land uses they wanted also. He stated if they did not like the current framework vision, then they can develop a new framework vision. Councilmember Holmes stated she agreed they did not need all of the detail in this document, but she did not understand why they needed all of the financing information up without bringing up some other important parts also. Ms. Wolfe responded a lot of those items would be covered by other documents, such as the Memorandum of Understanding, the Action Agreement, etc. She noted the financing would not be addressed in those documents, so it was addressed in this document. Councilmember Grant stated it appeared the developer would be approaching insurance companies to purchase liability insurance. If they are not able to do that for whatever reason that was a hurdle they needed to get over and the project had to have insurance. Councilmember Holmes asked why financing set out in two separate bullets but insurance was not addressed. Mr. Bubul responded this was talking about private financing and unless they can show if can be privately financed it will not be developed. He noted the Army had the ultimate environmental liability. Councilmember Holmes stated she did not believe that was a correct statement. Mr. Bubul responded he saw insurance as a part of this document, even if it was not specifically addressed. He noted everyone understood insurance would be necessary. Councilmember Holmes questioned the wording of the "developer shall" on page 4, (b). Mr. Bubul responded they would look at that and reword it. Mayor Harpstead stated the last sentence on Page 4 ifthey end up reimbursing them, they should then own the product. He requested that be put in this section. Mr. Bubul indicated that was a good point to include. Councilmember McClung stated with respect to the Public Financing Policy, he understood that the Council had not committed themselves to any level of funding or any method of financing. Mr. Bubul responded that was correct. Councilmember Holmes stated she was not sure what kind of Public Financing did not fall of the shoulders of the taxpayers. Mayor Harpstead noted the document did specifically state it would not become a burden to the taxpayers. Councilmember McClung stated he wanted to leave all of their options open considering that was a lot they did not know yet and he wanted to make sure the City's hands were not tied at this time. He wanted to make sure they had some ability to negotiate and deal with this in the future. Mr. Bubul responded it was typical among Cities to state the public fmancing documents in broad terms and to specifically set out that the financing would not impact the current taxpayers.