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City Council Study Session - 04/18/05 Minutes - Page 8 development costs; platting; city public improvements; redeveloper public improvements; site improvements; minimum improvements; phasing; quality of minimum improvements; capitalized interest; contamination grants and responsible parties; government approvals; permits/fees; zoning and land use approvals/easements; special assessments; park dedication fee/public open space contributions; Business Subsidy Act exemptions; relocation of tenants; prohibition on tax exemption; and the effect of the term sheet. Council comments, questions and discussions were as follows, identified by individual page and topic: Page 1 Discussion included identification of the City as the legal entity to enter into a contract; proposed language changes from "will" to "may;" statutory test assumptions; expertise of the City's Development Attorney and staff and their desire to protect the City's interests; Policy discussions related to the "subsidy" package and term sheet obligations implied; redevelopment agreement contingent upon creation of a TIF District and sequencing; possible inclusion of a separate clause related to pending litigation regarding environmental issues and Comprehensive Plan and Zoning amendments and other declarations to be included in a redevelopment agreement, as well as severability clauses as appropriate. Page 2 Discussion related to Eminent Domain included identification of parcel ownership and status to-date; status of a U. S. Supreme Court case and implications to the Twin Lakes Redevelopment Project; whether or not an appropriate public purpose can be found or if the project is deemed economically unfeasible due to the inability to obtain necessary parcels; property acquisition uncertainties; potential cap for eminent domain acquisition; and rephrasing of paragraph 4 in keeping with the best interests of the City. Discussion related to tax increment financing included a