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<br />ARDEN HILLS CITY COUNCIL - July 28, 2008 <br /> <br />7 <br /> <br />Councilmember Holden stated that the purpose of this resolution IS to run <br />numbers. <br /> <br />Ms. K vilvang stated that this resolution is to look at the financial feasibility and to <br />analyze how much public assistance would be needed to get to a 150/0 rate of return. <br /> <br />Councilmember Grant stated that this resolution also provides direction to Staff <br />and Consultants. The Council is endorsing this document and giving direction to <br />the negotiating team. He also stated that item 3 under Now, Therefore, Be It <br />Resolved should be changed from unreasonable risk to the City to read no risk to <br />the City. <br /> <br />Councilmember Holden stated that part of the reason the City retained a developer <br />was so that there would be no risk to the City. <br /> <br />Councilmember Grant stated that the word unreasonable was open to <br />interpretation. <br /> <br />Ms. Kvilvang stated that every form may have some risk to the City and the <br />negotiating team is working to make this risk as minimal as possible. <br /> <br />Mayor Harpstead stated that if the word unreasonable was deleted the sentence <br />would carry the same tone and it ties directly to financial assistance for the <br />redevelopment. <br /> <br />Mr. Stephen Bubul, of Kennedy & Graven, City Attorney for TCAAP, stated that <br />the word unreasonable was "lawyer speak". There is no such thing as no risk. He <br />also stated that the actual wording of the document was not as important as the <br />intent. He also reminded the Council that they will make every decision in the <br />process. <br /> <br />City Administrator Moorse stated that it would be the City that determines what <br />would be unreasonable. <br /> <br />Councilmember Grant agreed that removing the word unreasonable would be <br />sufficient. He also stated that there would be a lot of negotiating and not all of the <br />negotiating will come back to the Council. The negotiating team will let the <br />Council know what was negotiated but not necessarily everything that was <br />discussed to reach the end product. He stated that Council needs to send a clear <br />message to the negotiating team on what the City expects. He asked who wrote the <br />resolution. <br />