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Regular City Council Minutes - 08/04/03 Page 18 Mayor Kysylyczyn cautioned the public and political candidates from making grandstanding statements and creating a public stir prior to having the facts before them; reminding the public that the MOD was simply the basis for a starting point for discussions, citing recent misrepresentations to the public regarding the proposed Twin Lakes development project. Ayes: Nays: Roll Call Klausing, Schroeder, Maschka and Kysylyczyn. None. At the request of Mayor Kysylyczyn related to a projected time frame, Ms. Ahrens anticipated public discussions could proceed this fall, but was dependent on many aspects of the proj ect, and all parties wanted to be in agreement prior to bringing the project forward. VIII. Reports and Recommendations A. Applewood Pointe (Arona Project), Use of Land Sale Proceeds and Use of Proceeds from this Existing Tax Increment Financing District #12; Housing and Redevelopment Authority (HRA) Request for Use of Funds Ms. Cathy Bennett, Economic Development Specialist provided background related to previous Council requests for clarification on the ability to use the proceeds from the sale of the Arona site and future tax increment generated from existing Tax Increment Financing District No. 12 (Arona site), created in 1991 with increments available until 2015. Ms. Bennett advised that, given the complexity of required discussion to determine the possible need to amend the Tax Increment Financing Plan, staff was recommending dedication of approximately one (1) hour of meeting time to discuss this issue alone. Reports and Recommendations Applewood Pointe (Arona Project), Use of Land Sale Proceeds and Use of Proceeds from this Existing Tax Increment Financing District #12; Housing and Redevelopment Authority (HRA) Request for Use of Funds