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Regular City Council Meeting - 03/29/04 Minutes - Page 16 8. Twin Lakes Development 8.a Consider Resolution on Twin Lakes Contract for Exclusive Negotiations with Rottlund Homes (PF 3543) Community Development Director Dennis Welsch reintroduced this item from the March 15, 2004 meeting at which Councilmembers had requested additional consideration and information for refinement of this proposed agreement. Mr. Welsch noted that the City Council's request related to the Termination Clause (page 8, Subsection 14. "Term of Agreement," subject to the last paragraph of Section 7(a) revision to reflect previous City Council concerns and discussion. The City's Financial Consultant Jim Casserly with Krass Monroe; representatives of The Rottlund Company (Michael Noonan and Todd Stutz), Welsch Companies, and Roseville Properties (John Johannson) were also present. Mayor Klausing outlined his preferred order for discussion, at which time he would hear public comment, then Council discussion of the issue prior to the Council voting on the proposed contract. Councilmember Ihlan requested that financing concerns be discussed prior to additional discussion. Councilmembers concurred. Jim Casserly, Financial Consultant, Krass Monroe, P.A. Mr. Casserly responded to Council questions, specifically related to Areas 1 through 5, as outlined in the presentation materials prepared by his office and identified as "Twin Lakes Redevelopment Area Sources and Uses, and made part of the staff report dated March 29,2004. Mr. Casserly noted the complexity of the project area and recognized this document as a starting point, representing a very abstract and preliminary analysis of financing sources, uses and possible gap strategies to be investigated. Mr. Twin Lakes Development Resolution 10214 Twin Lakes Contract for Exclusive Negotiations with Rottlund Homes (PF 3543)