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City Council Study Session - 07/19/04 Minutes - Page 21 to consider in the process in maximizing the value of the land and accomplishing the goals of the City, as well as the developer. Mr. Casserly noted that it would require time to integrate all of these components, and they were there to help the City achieve their goals, and were now at a point in the process where they were awaiting direction from the City Council. Mr. Casserly further noted that, were the City to acquire the land, they would need to pay the absolute land costs, relocation costs, and demolition. Mr. Casserly opined that he saw no unusual costs in the developer's projections. Mr. Casserly addressed City Manager Beets' comment regarding Greenfield versus Brownfield properties in communities, noting that all older cities with environmentally challenged property experienced the same issues and investments in redevelopment of the property. Mayor Klausing noted that if the property were all rezoned as retail, there would be no problem, but due to the City's desire for additional housing and office space, it created special land use and value issues. Mr. Casserly continued to detail the various individual gap strategies, noting that some of the strategies, when taken together, have an affect that is greater than their individual parts and can enhance what's available. Councilmember Maschka questioned how the Council, in making policy decisions, got to the point of creating a set of parameters from a policy standpoint. Mr. Casserly responded that with his firm working with the development community on a continuing basis, and by testing various strategies in the market place, they were able to make qualified suggestions to and work with the Council and staff to determine if other resources were available or funds that could be advanced for an interim time. Councilmember Kough questioned the phasing of the project; higher tax generation of housing; and ways to reduce the City's risk.