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<br />City Council Regular Meeting - 09/13/04 <br />Minutes - Page 36 <br /> <br />Lofts 240 Units <br />Urban Townhomes 142 Units <br />Gable Row 108 Units <br />Townhomes <br />Total Units 730 Units <br /> <br />Jim Casserly, Financial Consultant for the City of Roseville <br />Mr. Casserly provided a financial analysis on Development <br />Areas 1 through 5 and 8, showing sources and uses. <br /> <br />Mr. Casserly responded to Council questions and comments, and <br />reviewed the various components of his analysis. <br /> <br />Mr. Casserly noted that one source that had been approved was <br />not being utilized, that of Special Assessment; and explained that <br />it couldn't be utilized on housing, and it was determined that on <br />the commercial and office portion of the project, it would be <br />better to include the assessments in the land selling price. <br /> <br />Councilmen1ber Ihlan questioned the status or efforts made to- <br />date on collecting environmental costs from previous property <br />owners, particularly those who had caused the original <br />contamination. <br /> <br />Mr. Casserly responded that his answer was the same as <br />discussed at previous meetings, that best efforts would be made <br />to collect fron1 those responsible, but he did not anticipate much <br />success in the venture. Mr. Casserly noted that a determination <br />was yet to be n1ade as to the extent of the contamination. <br /> <br />Michael Noonan, Rottlund Homes <br />Mr. Noonan advised that two-thirds of the properties purchased <br />to-date had received Phase I and II testing by American Testing; <br />and he was confident of the testing results and implications for <br />adjoining parcels yet to be obtained, as they had experienced <br />similar uses. <br /> <br />Further discussion ensued regarding groundwater testing and <br />assumptions; risk analyses; nature of TI Revenue Bonds being <br />"pay-as-you-go;" hazardous sub-districts; and projected <br />