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Regular City Council Minutes -10/21/02 Page 3 meeting the intent of TIF; and stated that the City's long- term redevelopment outline for the Twin Lakes area could be defined as one of "quality, quality, quality;" and expressed his approval of the concept plan presented in meeting the City's criteria. Councilmember Kough addressed the relocation and/or abandonment of existing trucking firms in the area; use of TIF for contaminated soil improvement; and sought clarification of the aspects of the project for which the developer was seeking public financing. Mr. Cullen stated that they had entered into several Purchase Agreements with existing businesses in the area, and were in negotiation with the balance of companies wi thin the 60 acres proposed for their Phase I development; and that they had performed several environmental assessments on some portions of the site, but others would be needed as the project progressed. Mr. Cullen stated that they would be seeking some commitment from the Council on upfront costs, with the remainder of public financing requests involving pay-as- you-go TIF. Mr. Cullen further stated that they anticipated completion of Phase I within 24 - 36 months of initiation; with project start anticipated by the spring of 2004. Mr. Cullen stated his firm's intent tonight was to seek Council direction on whether the project merited their continued pursuit beyond the preliminary concept plans. If the Council was receptive, Roseville Properties would develop an assessment of costs to determine what specific dollar amounts they would be requesting from the City. Further discussion referenced past projects similar to the Twin Lake Redevelopment, including Centennial Lakes in Edina; and Arbor Grove in Maple Grove. Councilmember Maschka stated that, while the concept may be well worth pursuing, the City would need to go to