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City Council Regular Meeting - 08/09/04 Minutes -Page 14 redevelopment area plan at this time. Councilmember Kough discussed existing vacancies and potential for growth of the Rosedale Center and whether that might be an option for a big box retailer. Councilmember Maschka had prepared a written statement outlining his support or opposition to various components of the redevelopment plan to-date. Councilmember Maschka's comments are as follows: "My framework for Twin Lakes Redevelopment" ((:ouncilmember llean lViaschka) If the project is to go forward, it needs to stand on its own. However, with that said, the City should use any reasonable tools to encourage the development, but not be in the business of loaning money, or acting as a developer. This development needs to have economic viability using the following criteria: • The current pay-as-you-go Tax Increment Financing (TIF) Policy will not change. • I will not support the spreading of fiscal disparities outside the District. • I will not support the use of General Obligation (G®) bonds to make this happen. The only exception being a portion of the roadways; I believe a portion of the roads have acommunity- wide value and thus can be justified as being a part of the overall community infrastructure. • I will support the use of TIF Revenue Bonds to make the project happen. • I will support the use of Special Assessments to get the project done. • I would look at the use of a reduced contingency fund; however, the amount of the reduction needs to be very small, a maximum of one percent (1 %). • Because of the size of the protect, I would look at a reduction in City Administrative fees, but only after a review of the cost the City would incur as a result of this project. • I would sup ort approaching the State regarding