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Regular City Council Meeting Monday, October 22,2012 Page 26 bers; while not committing to ultimate approval for use of TIF. However, Mayor Roe questioned if there was a City Council majority supporting that next step; and while he personally thought it was worth taking a further look, he also wanted to avoid something not happening on this site due to a lack of TIF or other funding as applicable. Mayor Roe noted that the City could not compare this project with a project in Golden Valley, since the actual specifics of the parcel and development were unknown, and opined they were not relevant to the City Council's discussion and/or comparison. Councilmember Johnson recognized that Mayor Roe had brought up some good points,particularly use of TIF for Sienna Green; he opined that use of TIF need- ed to remain a discretionary act of discipline; and opined that he had not changed his mind, even though Mayor Roe's comments were well received. Councilmember McGehee noted future discussion at the City Council's No- vember 19, 2012, meeting to re-vision the process for Twin Lakes. Mayor Roe questioned if it was Councilmember McGehee's suggestion that all projects be put on hold until that re-visioning process was completed; to which Councilmember McGehee responded that this would be fine from her perspec- tive. Councilmember Willmus expressed his ongoing concern with this type of pro- ject considered for TIF dollars; further expressing his concern that once Phase I had been accomplished, whether financial conditions may change and the City would end up being responsible for Phases II and III. Mr. Trudgeon noted that those concerns could be sufficiently addressed in the language of the Development Agreement; and recognized those concerns. Mr. Trudgeon sought a clear directive from the City Council to staff as to whether or not to proceed with negotiations. Councilmembers Willmus, Johnson, and McGehee spoke in opposition of con- tinuing with this project as presented. Ms. Huot, in response to comments of Councilmember Pust during this discus- sion, addressed upfront uses and sources. Ms. Huot noted that part of their analysis of any developer's project included how those total costs would be in- cluded. Ms. Huot reviewed the minimal developer overhead and contingency provided of the overall development costs; and appearance that they intended to pay themselves a huge amount of money upfront at the time of closing beyond the actual land transaction. Based on Ms. Huot's comments, Councilmember Pust questioned where the de- veloper's profit was for this private market project.