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<br />City Council Study Session - 04/18/05 <br />Minutes - Page 10 <br /> <br />Page 6 <br />Discussion included Site Improvements and Minimum <br />Improvements; incremental increase in tax revenues based on <br />improvements, not the current tax base; identification of anchor <br />"big box" retailer and negotiations to-date. <br /> <br />Page 7 <br />Discussion included Phasing; Quality of Minimum <br />Improvements; Capitalized Interest; and ongoing discussions for <br />Areas 5 and 8 and anticipated property acquisition costs related <br />to cash flow and how best to balance. <br /> <br />Pages 8 and 9 <br />Discussion included Capitalized Interest; Contamination Grants, <br />Responsible Parties; Government Approvals; Permits/Fees; <br />Zoning and Land use Approvals/Easements; Special <br />Assessments; Park Dedication Fee/Public Open Space <br />Contribution; Business Subsidy Act; Relocation of Tenants; and <br />Prohibition on Tax Exemption; and Effect of Term Sheet. <br /> <br />More detailed discussion included the possible exploration of <br />some percentage or dollar amount of the Park Dedication Fee <br />dedicated to public art, or that the developer receive credit for <br />public art improvements; current policy related to park <br />dedication funds and possible resolution or ordinance <br />amendment related to accommodate changes to the policy; need <br />for City Council definition related to park dedication fees if they <br />wish to deviate from the current policy (i.e., Langton Lake Park <br />development specifically); and potential land dedication in lieu <br />of funds for protecting the natural environment of the park. <br /> <br />Mr. Casserly was asked to provide City Manager Beets and the <br />City Council with additional information related to the Business <br />Subsidy Act exemptions. <br /> <br />Further discussion included property acquisition costs, removal <br />of existing buildings and tax base rate calculations and timing <br />related to actual redevelopment or build out on the site; the need <br />for further review of project phasing related to freezing the TIF <br />District base tax rate; identification of responsible parties for <br />environmental remediation and reflection of such in acquisition <br />