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REQUEST FOR COUNCIL DISCUSSION Department Approval: DPW/CB Manager Approved: cJteaf &~/ DATE: 09/20/04 ITEM NO:5. Agenda Section: Public Hearing Item Description: Public Hearing on Public Financing for Twin Lakes Phase I Proposed Development (PF 3543) 1.0 SUMMARY OF MATERIALS FOR PUBLIC HEARING 1.1 A public hearing was set for September 20, 2004 to allow residents and interested parties an opportunity to provide comment and ask questions regarding the proposed public financing issues relating to the concept Twin Lakes Phase I Development proposed by master developer, Rottlund Companies. (NOTE: Public comment on the formal land use process- Phase 1 - will be solicited at the public hearing before the Roseville Planning Commission on October 6th if the Master Developer, Rottlund, receives approvals needed by the Council at the end of September.) 1.2 The media were alerted and the notice was published in the paper and on the cable systems. 1.3 A preliminary financing plan has been prepared and was reviewed with the City Council on September 13th. It should be understood that a significant amount of additional financial analysis will be done if this project moves forward. Any gap strategies must be reviewed and approved with more detailed analysis, based in part on a more finite land use plan. 1.4 The information prepared and presented as part of this public hearing is an overview of the public financing proposed for this development. Michael Noonan of Rottlund Homes and the City's development finance consultant, Jim Casserly, will be present at the public hearing to present a brief introduction and, later, answer questions if the Council chooses to have them answered at the meeting. a. Public Finance and Redevelopment Presentation PF3543 - ReA (09-20-04) - Page 1