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ARDEN HILLS CITY COUNCIL - July 28, 2008 11 Councilmember Grant stated that if there is an unexpected amount of profit in the vertical development this would reduce the amount ofTIF via the look backs. Mr. Bubul stated that this was the intent of the second part of the resolution and that the vertical development would be looked at later. He stated that the horizontal development was being analyzed separately and this was the focal point of the negotiations at this time. He also stated that it was too early in the process to look at the vertical development. Councilmember Grant asked how many MDAs Mr. Bubul has worked on where the land was split. Mr. Bubul stated that almost all of the developments that are large scale such as the TCAAP project. Councilmember Grant stated that he would withdraw his request to change the wording to include vertical development. MOTION: Councilmember Holden moved Councilmember Grant seconded a motion to amend item 3 under the Now, Therefore section to remove the word unreasonable. The motion carried (4-1 - Councilmember Holmes) MOTION: Councilmember McClung moved and Councilmember Holden seconded a motion to amend item l(b) under the Now, Therefore section to change the phrase "is reasonable" to "may be~'. Councilmember Holden asked why these items were being listed off separately. Mayor Harpstead clarified that this is public information to help residents understand that this is part of the process. Mr. Bubul stated that these items were listed separately to provide clarity as well. He stated that the purpose was not to guarantee a 150/0 rate of return but rather as an analytical tool to help determine ifpublic assistance will be necessary. The motion to amend item 1 (b) under the Now, therefore section was called to vote. The motion carried unanimously (5-0). Mayor Harpstead restated the amended motion on the floor. The amended motion was called to a vote. The motion carried unanimously (5-0).