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<br />City Council Study Session - 05/17/04 <br />Minutes - Page 9 <br /> <br />and scope entailing complex financing plans. <br /> <br />Mr. Miller noted that, over the last few months, Paul Steinman, <br />Terri Heaton and Craig Rapp, the City's financial advisors <br />(Springsted), along with Mary Ippel, the City's Bond Counsel <br />(Briggs & Morgan), and Jim Casserly, the City's Development <br />Attorney (Krass Monroe), and applicable City staff members had <br />been meeting to develop an overview of redevelopment and <br />financing options available to the City. Representatives of the <br />above-referenced firms were present to provide an overview of <br />the prepared report that was the product of those meetings, and to <br />address questions of Councilmembers. <br /> <br />Mr. Miller further noted that the study represented various <br />concepts, and was not all-inclusive, but meant to challenge the <br />City Council and prompt discussion of key policy issues that the <br />City Council would need to establish or reinforce over the next <br />six to twelve months; and provide discussion for decision- <br />making as various future development proposals were presented. <br /> <br />Ms. Heaton initiated an overview of the "Redevelopment and <br />Financial Tools Study," provided via a Power Point presentation <br />and dialogue of those study preparation participants identified <br />earlier. The outside consultants thanked City staff for their input <br />and involvement in development of the comprehensive report <br />that had been previously provided to Councilmembers for more <br />detailed review. Credentials of the presenters were briefly <br />reviewed, specifically noting their concentration on municipal <br />funding from legal and financial perspectives. <br /> <br />Mr. Rapp noted that the goal for the overview and information <br />presented was to provide the City Council with a base for good <br />decision-making, in order for them to come to consensus from <br />what each individual Councilmember brought to the table. Mr. <br />Rapp advised that tonight's presentation would focus on <br />economic development and redevelopment tools and concepts; <br />financing tools and concepts; and policy points for Council <br />consideration. Mr. Rapp noted that a future Study Session, after <br />Councilmembers had absorbed tonight's material, may be <br />requested to consider case studies; address risk versus reward; <br />and to facilitate determination of the City's development <br />