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Date: 02114/05 Item: 11. Twin Lakes Timeline Update, TIF Application, Fiscal Impacts Motion for Fiscal Impacts Analysis Re: Twin Lakes Redevelopment Submitted by Council Member Amy Ihlan February 14, 2005 The city council hereby directs staff to prepare an analysis of the fiscal impacts of the proposed Twin Lakes Redevelopment and Rottlund's request for TIF and other public subsidies to support the project, including but not limited to detailed estimates and analyses of the following: 1. Costs of all new infrastructure for the proposed redevelopment; 2. Costs of providing city services to the new development, and an analysis of how these services will be funded if the additional tax revenues from the new development are given to the developers in the form of TIF or other subsidy; 3. Costs of additional infrastructure and services outside of the redevelopment area needed to support additional traffic generated by redevelopment and/ or mitigate traffic impacts; 4. Costs of all necessary environmental clean-up/environmental impact mitigation in connection with the redevelopment; 5. Costs of all consultant and other professional services in connection with the proposed redevelopment and Rottlund's application for TIF and other public subsidies; 6. Costs of defending litigation concerning the proposed redevelopment; 7. Losses of future tax revenue to the city due to TIF and other public subsidies requested by Rottlund; and losses of current tax revenue due to hazardous substances subdistricts; 8. Costs of issuing TIF Revenue Bonds, including interest and other debts service costs, and analysis of impact on city debt load and bonding capacity. This fiscal impacts analysis shall be completed before the city council takes any action to approve Rottlund's application for TIF and other public subsidies for the Twin Lakes project, and before the city council takes any further action to approve or issue permits for the Twin Lakes project.