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ARDEN HILLS CITY COUNCIL August 30, 2010 7. C. Resolution 2010 -043: Set Proposed TIF District Public Hearing Date Presbyterian Homes Redevelopment (continued) explored. Presbyterian Homes is inquiring about the possibility of the City offsetting some of the costs associated with the redevelopment by providing Tax Increment Financing (TIF). The City has requested that Presbyterian Homes complete the required applications and pay the required fees and escrow deposits. Staff has been working with the City's financial consultant to obtain estimates of the costs associated with this application and a timeline. Calling for the public hearing does not commit the City Council to provide TIF for the project. The Council may stop the process at any time if it determines that it does not want to provide public assistance. This is a time sensitive project because of the proposed relocation of the Arden Hills library in order to obtain estimates and the feasibility of the project to get information to the Ramsey County Board of Commissions. Since the Library Board is meeting on September 15, 2010, the project will be part of the agenda for the Planning Commission on September 8, the Financial Planning and Analysis Committee (FPAC) on September 9, and Staff hopes to update the City Council on the project at either a work session or the City Council meeting on September 13, 2010. Councilmember Holden asked when the Council would be able to view the project and when the rezoning hearing would be held. City Administrator Klaers stated the planning application time frame has been started. There is a concept review on September 8 with the Planning Commission and a formal application before the Planning Commission in October. After this it would forward to the City Council at the end of October. Mayor Harpstead requested this come to the Council at a work session as well as the regular meeting. Councilmember Holmes asked what the costs are for preparing for and holding the TIF public hearing. City Administrator Klaers stated Staff has estimated the cost of $30,000 to $40,000 and provided this information to Presbyterian Homes. They have set money aside in an escrow account for these costs and Staff will closely monitor these accounts. Councilmember Holmes stated the resolution refers to both District 1 and District 4. She asked if this was correct. City Administrator Klaers stated TIF District 4 is for the project or site and is a smaller portion of the larger City Development District 1 so both districts need to be identified. The proposal would amend the District 1 development program. Councilmember Holmes asked why the City would not have to provide information to the County Board. City Administrator Klaers stated because the project does not impact the County Roads. Also, the fiscal economic implications would be sent to the County Auditor.