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e ar icy a ciI eeti M®~~~~, ~~~®b~~- 22, zoa7 age Mr. Miller concurred that the district had a healthy fund balance; and any due diligence expenses would be more than covered by those funds right now; and confirmed that the district had no contractual obligations at this time. Discussion included the decertification process; ramifications to taxing jurisdic- tions if the district is not decertified; distribution of funds if the district is to be decertified; and current restrictions of funds. Councilmember Ihlan expressed concern in not being able to condition a vote to extend the TIF District on how the monies were expended; and concerns that a majority of the Council, as long as in compliance with state laws creating the TIF district, could. dictate how those funds could. be expended. Mr. Miller advised that the Council could use their discretion and make the funds as restrictive as they desired; however, noted the restrictions under State Statute. Councilmember Ihlan opined that she didn't know if decertifying the district was good public policy unless there was a consensus agreement among Councilmem- bers to use constraint, and earmark funds for environmental clean up in Twin Lakes. Councilmember Ihlan requested additional information from staff prior to addi- tional discussion at the November 5, 2007 Council meeting, to provide more in- formed decision-making and discussion: 1) Whether more money was needed than the new Twin Lakes TIF District would generate for environmental clean up, as indicated by Mr. Sands' figures in the old Twin Lakes TIF District; 2) Policy issue consideration of whether it makes sense to commit TIF funds to environmental clean up before efforts to make responsible parties clean up; and how to strategize how that might happen; needing considerable thought before money was set aside outside the TIF district; 3) Does transferring funds from one district to another violate the City's existing pay-as-you-go TIF policy, rather than waiting for the redevelopment to generate it's own funds; and 4) Status of the Hazardous Subdistrict in the new Twin Lakes district. Mr. Miller briefly reviewed the Hazardous Subdistrict created in 2005 to capture some increment; noting that it was relatively small since no redevelopment had occurred in the Twin Lakes area to-date during those two (2) years; and concerns that with the lack of redevelopment, and given requirements under State law, there may not be as many funds as originally envisioned in 2005. Councilmember Ihlan opined that she did not support the use of TIF funds for general economic development as proposed in the previous Twin Lakes project.