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Regular City Council Meeting <br />Monday, December 17, 2007 <br />Page 13 <br />Roll Call <br />Ayes: Kough; Roe; Ihlan; Pust; and Klausing. <br />Nays: None. <br />h. Adopt a Resolution Accepting Public Improvements Constructed by Rose- <br />dale Center (PF #3608) <br />Roe moved, Pust seconded, adoption of Resolution No. 10580 entitled, "Final <br />Acceptance for Public Improvements Constructed by Rosedale Center. <br />Roll Call <br />Ayes: Kough; Roe; Ihlan; Pust; and Klausing. <br />Nays: None. <br />9. Consider Items Removed from Consent <br />None. <br />Recess <br />Mayor Klausing recessed the meeting at 8:07 p.m. and reconvened at 8:14 p.m. <br />10. Public Hearings <br />a. Consider Adopting a Resolution Extending the Tax increment Financing <br />(TIF) District No. 1 Plan -Centre Pointe <br />Due to attendance of an outside consultant, it was the Council consensus to hear <br />this item before budget discussions. <br />Finance Director Chris Miller reviewed the background of the request to consider <br />extending TIF District # 1 for an additional two (2) years, to provide an additional <br />funding option to facilitate environmental remediation and the installation of pub- <br />lic infrastructure in the Twin Lakes Redevelopment Area, immediately adjacent to <br />Centre Point. Mr. Miller noted that, if the District was extended, and if the funds <br />were found not to be needed, or if the City Council as a collective body could not <br />achieve consensus on a permitted use of funds, the money could be refunded. Mr. <br />Miller noted that funds under the existing TIF Plan for Centre Pointe would not <br />allow use of monies, and only those increments received in 2008 and 2009 from <br />TIF District #1, under an amended plan as recommended, could be utilized. <br />Mr. Tony Stemburger, from Briggs and Morgan, the City's Bond Counsel, was <br />present to answer questions of the City Council or public. <br />Discussion included distinguishing between the TIF District and the spending <br />area; years allotted for the District (25 years); development challenges within the <br />Twin Lakes area, and desire to allow maximum flexibility to meet those chal- <br />lenges (i.e., extensive public infrastructure and potential environmental clean up); <br />and restrictions of the current excess increment in the Centre Pointe District and <br />refund schedule. <br />