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Regular City Council Meeting Monday, March 3, 2014 Page 20 Mr. Trudgeon noted that this was a simple administrative amendment, but that Ms. Mychala Hewitt from Springsted was available to answer any questions. Mayor Roe asked Mr. Trudgeon to provide rationale for amending the plan at this time, rather than concurrent with a development agreement, as has been done in the past.. Mr. Trudgeon responded that staff was seeking feedback and approval from the City Council as to whether this is an appropriate method to explore, and an indi- cation of whether or not they supported the use of TIF dollars for gap financing. Mr. Trudgeon noted that staff felt that if the process was approved now, it would be one less thing to do later; however, he reiterated that the final decision would be made as part of the development agreement as it came forward to the City Council for review and approval. Mr. Trudgeon noted that at this point it provid- ed speculative flexibility in the TIF plan, which ultimately came down to the agreement, and still needed particular approval to access those dollars. While it was also acceptable if the final financial arrangements didn't include TIF, Mr. Trudgeon note that it provided a good faith understanding between the developer and City allowing them to craft a draft development agreement based on that un- derstanding. Mr. Trudgeon noted that this district included the current Applewood Point de- velopment, developed by the HRA in 2003, and providing workforce housing. Etten moved, McGehee seconded, adoption of Resolution No. 11134 (Attachment C) entitled, "Resolution Approving Administrative Amendments to the Tax In- crement Financing Plans for Tax Increment Financing Districts No. 10 and No. 12." Councilmember Laliberte noted that, when having first received proposals, a gap of a similar amount with zero land costs included was given; and now it would appear that the gap was the same with the land included. With City Manager Trudgeon not having access to that referenced figure at this meeting, Mayor Roe asked that staff respond at a future point to that material. Roll Call Ayes: Laliberte; McGehee; Willmus; Etten; and Roe. Nays: None. Mayor Roe noted that staff and the developer would return with final plans and a proposal in the future.