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Regular City Council Meeting - 03/29/04 Minutes - Page 21 project's feasibility and present a plan to the City Council. Al Sands, 2612 Aldine Mr. Sands provided his historical perspective on the use of Tax Increment Financing as a funding source; the substantial gap represented by Mr. Casserly's projections; and cautioned the Council to bring net land acquisition costs closer together to alleviate risk to constituents and support for funding sources from those constituents. Mayor Klausing clarified the issues before the City Council tonight related to Mr. Sands' comments. Mr. Sands opined that this was not a workable projection. Councilmember Maschka noted that the projections were "worst case" scenario. Gale Pederson; 929 West Roselawn (Current member of Twin Lakes Stakeholder's Panel) Ms. Pederson noted the vast knowledge she had gained in the first four meetings of the Panel compared to her 20 years of involvement in other City projects and community service. Ms. Pederson sought time for the Panel to absorb the information they were being provided, and time to ask additional questions of the developer team and staff. Ms. Pederson opined that if the City Council didn't allow the process to proceed, and agree to the contract to protect the developer until the end of September, it would prove unfair to citizens. Ms. Pederson spoke in support of and encouraged Councilmembers to allow the developer time to refine numbers and define the project; noting the substantial increased tax base available should the project proceed. John Johannson, Welsch Companies and Roseville Properties, Representative Mr. Johannson noted that this proposed project was a huge undertaking, and that redevelopment was always more difficult. Mr. Johannson reminded the City Council of the developer's commitment to the project, and work to-date,