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2004-05-12 CC Meeting
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2004-05-12 CC Meeting
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<br />I feel the assumptions provided by Sedona Homes are reasonable and I see no reason for the City Council <br />not to move forward with this project. Certain City Council concerns that have arisen can be alleviated <br />by doing a couple ofthings including: <br /> <br />] . As the agreed upon reimbursement is tied to projected costs, tie the reimbursement to actual <br />costs (TIF eligible) submitted. Remember, a submission of receipts by the Developer is required <br />for all eligible costs prior to reimbursement. This would be included in the development <br />agreement written by the City's bond counsel. <br /> <br />2. The City can negotiate that total revenues received are commensurate with total costs incurred. <br /> <br />3. If the City moves forward, at that point it would allow the Developer to submit plans and specs to <br />the County and get a relatively accurate projection of project valuation. Again reimbursement <br />can be structured to vary with certain assumptions and be tied to actual values. <br /> <br />We look forward to working with you on this project. Feel free to contact me with any questions at (612) <br />851-5907 or (800) 851-2920. Thank you. <br />
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