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<br />City Council Study Session - 05/17/04 <br />Minutes - Page 11 <br /> <br />the City not being considered a responsible party in possible <br />litigation concerns; up front expenditures and cash flow <br />challenges for development projects; bond pledges and/or <br />security related to risk perceptions; and marketability and <br />investor pool for various types of bonds. <br /> <br />Additional items discussed included the City's overall bond <br />rating and bonding authority capacity; special assessment bonds; <br />utility financing levies based on utility revenues and those <br />services applicable (i.e., storm water, streets, lighting, sidewalks, <br />water and sewer) and related benefit to properties; and the City <br />Council's need to identify preferred tools and then establish <br />cushions to allow for a conservative benefit versus cost analysis. <br /> <br />Mr. Rapp reviewed the items previously discussed from the <br />context of policy and the goal for Council consensus for a <br />philosophy and objective standpoint from their individual levels. <br />Items discussed included individual and collective (City) <br />philosophy; Public Sector (City) objectives versus private sector <br />(developer) objectives; tangible and intangible objectives; guides <br />for policy-driven, decision-making actions; and an organized <br />approach to determine the overall risk and reward spectrum. Mr. <br />Rapp noted the long-term aspects and process of a development <br />of this magnitude and various scenarios that may be encountered <br />(i.e., numerous state legislative sessions and representatives; <br />different developers; changing Council representatives) and how <br />to develop a philosophy for the city's long-term development <br />and growth. Mr. Rapp identified some items for the City <br />Council to consider in determining their risk "comfort" level for <br />specific identification of negotiation assistance available based <br />on certain parameters with limited flexibility (i.e., job creation) <br />to pursue success, rather than not having discussions prior to <br />development requests coming forward and creating dissention at <br />the bench. <br /> <br />Mayor Klausing thanked staff and panel members for their <br />informative and thought-provoking presentation; opining his <br />desire to schedule another session to specifically talk related <br />factors and past discussions related to Master Plan language. <br /> <br />City Manager Beets suggested an appropriate follow up to <br />