12-10-07 Item 8A TCAAP Update - Laserfiche WebLink

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December 10, 2007 EHLERS Date: LEADERS IN PUBLIC FINANCE To: City Council From: Stacie Kvilvang Subject: TCAAP Update Acquisition of TCAAP Property . The City and RRLD met with the GSA and Army in Washington D.C. on November 27-28,2007, At the meeting they discussed credit categories, with the three (3) remaining credit categories still needing further discussion: hazardous materials, water treatment facility and vapor intrusion, The next meeting with the parities is scheduled for January 15-16, 2007 in Minneapolis, . RRLD and the Army are working on the final details of a confidentiality agreement regarding the results of the asbestos survey, in which if the transfer process does not occur, the Army will return the information or reimburse RRLD for the cost of the survey. . RRLD and Army will review options for moving the piping for the water treatment facility or leave the facility where it is currently located and analyze the financial impact of the options on the development. . RRLD's attorney is drafting a letter reciting the items that the parties have tentatively agreed upon on for signature by the Army and GSA, . It is anticipated that a 7th amendment will be required for the OTP to extend the date for agreement on the credit amount. It is anticipated that the amendment will be scheduled for the January 28, 2007 Council meeting, Environmental Characterization & Demolition . Preliminary sample results should be available for review with the Army at the meeting In January, . Updated demolition and abatement costs should be provided by the contractors to RRLD in mid December. Master Development Agreement . On November 13,2007, staff and RRLD provided the City Council with photographs of various housing developments in the Metropolitan Area, along with their corresponding unit per acre calculation, The information was provided so they could tour the sites on their own to assist them in visualizing the level of density currently contemplated for TCAAP. . On November 21,2007, staff and Ehlers met with RRLD and their engineers to discuss the public improvements required for the development. The meeting was to review the phasing plan, costs associated with the improvements to better define the timing of the improvements and reduce costs if possible, Ehlers and RRLD met on December 6, 2007 to review the updated Project Status Memo 1