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Regular City Council Meeting <br />Monday, March 03, 2008 <br />Page 15 <br />It was Council consensus to include this item on the next, as well as future, Coun- <br />cil meeting agenda for further discussion, and hopefully for Councilmember <br />Kough to be able to participate in the discussion. <br />13. Business Items -Action <br />a. Twin Lakes Public Financial Participation Framework and Cost Allocation <br />Plan <br />Community Development Director Patrick Trudgeon introduced several docu- <br />ments previously discussed at the February 11, 2008 City Council meeting: the <br />Twin Lakes Public Financial Participation Framework and the Twin Lakes AUAR <br />Infrastructure Allocation Study. <br />Twin Lakes Public Financial participation Framework <br />Economic Development Associate Jamie Radel provided a model fora hypotheti- <br />cal development proposal, with two different scenarios based on outlined objec- <br />tives of the framework and scoring criteria and methodology staff would use in <br />bringing various proposals to the City Council.. <br />Discussion included various thresholds for consideration; staff's analysis of scor- <br />ing criteria as a foundation for negotiation between the applicant and City in order <br />to meet City objectives; use of Springsted for in-depth financial analysis and po- <br />tential "but for" testing for tax increment financing (TIF); and the need for the <br />adoption criteria document to be dynamic and flexible, as projects developed. <br />Councilmember Roe noted that the resolution referenced the Public Financial Par- <br />ticipation Framework, and suggested that it be included as an attachment; with <br />Councilmembers concurring. <br />Ihlan moved, Roe seconded, adoption of Resolution No. 10604 entitled, "Adop- <br />tion of the Twin Lakes Redevelopment Area Public Financial Participation <br />Framework;" amended to include the Twin Lakes Public Financial participation <br />Framework document as Attachment A to the resolution. <br />Roll Call <br />Ayes: Roe; Pust; Ihlan; and Klausing. <br />Nays: None. <br />Councilmember Roe commended staff on their work on this framework, provid- <br />ing agood start for the Twin Lakes process. <br />Mayor Klausing concurred; and apologized to staff for time not allowing the <br />Council to act on the document at the previous Council meeting. <br />Mr. Trudgeon noted that the McGough proposal would be coming forward in <br />March, with staff also anticipating discussion in the near future with the City <br />