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<br />City Council Study Session - 06/21/04 <br />Minutes - Page 11 <br /> <br />confidence in the expertise and value-added in using these <br />consultants for the overall best financial interests of the <br />City for a project of this magnitude. <br /> <br />Councilmember Ihlan requested a breakdown of Mr. <br />Casserly's fees to-date; with Mr. Welsch responding that he <br />would need to compile those numbers in order to provide <br />that detail. <br /> <br />Mayor Klausing noted that costs would be part of the July <br />19, 2004 discussion process. <br /> <br />Mayor Klausing opined his anticipation regarding <br />upcoming discussions at the July 12 and July 19, 2004 <br />meetings related to an overview of the financial plan, gap <br />financing, cost incurred versus marketability, and financing <br />options based on the Master Plan. <br /> <br />Mr. Welsch noted that all City Advisory Commissions had <br />been invited, and that the July and August meetings were <br />scheduled at the Skating Center due to construction in the <br />, Council Chambers during that time period. <br /> <br />Mayor Klausing requested that Mr. Noonan review the <br />time line established for their exclusive negotiations <br />agreement. <br /> <br />Mr. Noonan noted that three milestone dates had been <br />established: <br />1) September 30, 2004: At the conclusion of the <br />Stakeholder's Panel process, the Master Developer <br />(Rottlund Homes) was charged to return to the City <br />Council with an identification of land to be acquired <br />to implement the plan and to provide financial <br />feasibility; <br />2) End of December: The Developer was charged with <br />refining their financial assistance plan; and to work <br />up a final concept plan for the sanction or approval <br />of the City Council; and <br />3) End of March of 2005: Provide a definitive plan for <br />which the City Council could consider casting <br />