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<br />City Council Study Session - 05/17104 <br />Minutes - Page 12 <br /> <br />tonight's presentation, at the City Council's direction, may be <br />dedication of another block of time on the June 21, 2004 Study <br />Session agenda to talk about risk/reward issues with more <br />specific discussion of the Twin Lakes project in order to keep on <br />track with that project. Mr. Beets noted that at the last discussion <br />of the Twin Lakes project, considerable financing gap challenges <br />were outlined with its various phases and in an effort to be fair to <br />developers, staff, and the community, various financing <br />strategies needed to be outlined and decisions made on a policy- <br />level. Mr. Beets identified several of those issues, including the <br />ten possible gap strategies, and the risk/reward for the proposed <br />mixed use development at Twin Lakes to make the project <br />marketable and the financial gap less daunting. <br /> <br />Mayor concurred with City Manager Beets' recommendation. <br /> <br />Councilmember Maschka also suggested a discussion on the <br />City's policies that are in effect, how they impact the Twin Lakes <br />project (i.e., tax increment and assessment policies). <br /> <br />City Manager Beets noted that the Twin Lakes Stakeholders' <br />Panel focus group had another four meetings scheduled prior to <br />providing the City Council with their input related to density, <br />uses, costs, and other issues; and he anticipated that input by the <br />end of July. Mr. Beets recommended that, to continue moving <br />forward to the September 30 date provided to the developers for <br />their return with more specific proposals, the City Council <br />needed to continue to move forward in grappling with their <br />issues over the next few months to provide adequate direction for <br />the developers. <br /> <br />Councilmember Ihlan expressed her desire to find additional <br />ways to expand public input on these policy decisions. <br /> <br />Councilmember Maschka requested Finance Director Miller's <br />analysis to quantify the City's existing assessment policy to <br />determine impacts. <br /> <br />Recess <br />Mayor Klausing briefly recessed the meeting at 8:02 p.m. and <br />