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City Council Regular Meeting — 02/14/05 <br />DRAFT Minutes - Page 16 <br />hereby directs staff to prepare an analysis of the fiscal impacts of <br />the proposed s Redevelopment and Rottlund's request for Tax <br />Increment Financing (TIF') and other public subsidies to support <br />the project, including but not limited to detailed estimates and <br />analyses of the following: <br />1. Costs of all new infrastructure for the proposed redevelopment; <br />2. Costs of providing City services to the new development, and an <br />analysis of how these services will be funded if the additional tax <br />revenues from the new development are given to the developers in <br />the form of TIF or other subsidy; <br />3. Costs of additional infrastructure and services outside of the <br />redevelopment area needed to support additional traffic generated by <br />redevelopment an/or mitigate traffic impacts; <br />4. Costs of all necessary environmental clean-up/environmental impact <br />mitigation in connection with the redevelopment; <br />5. Costs of all consultant and other professional services in connection <br />with the proposed redevelopment and Rottlund's application for TIF <br />and other public subsidies; <br />6. Costs of defending litigation concerning the proposed <br />redevelopment; <br />7. Losses of future tax revenue to the City due to TIF and other public <br />subsidies requested by Rottlund; and losses of current tax revenue <br />due to hazardous substances sub-districts; <br />8. Costs of issuing TIF Revenue Bonds, including interest and other <br />debts service costs, and analysis of impact on City debt load and <br />bonding capacity. <br />The fiscal impacts analysis shall be completed before the City Council <br />takes any action to approve Rottlund's application for TIF and other <br />public subsidies for the Twin Lakes project, and before the City Council <br />takes any further action to approve or issue permits for the Twin Lakes <br />ro' ect. <br />Councilmember Maschka spoke in opposition to the motion, <br />opining that it stated the obvious and the referenced issues would <br />be addressed in the process currently in progress. <br />Rottlund Twin <br />Lakes <br />Redevelopment <br />Proposal and <br />Subsidy Request <br />