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� llate: U2/14/U5 <br />�� � ,��.((,.��(�:� <br />� � _ � <br />Item: 11. <br />�'` T �� �y`� Twin Lakes Timeline Update, <br />��.� �: �. � a• : �',.,. <br />`�` � �' ` TIF Applicaiion, Fiseal Impacts <br />- Motion for Fiscal Irnpacts Analysis Re: Twin Lakes Redevelapment <br />Submitted by Council Member Amy Ihlan <br />February 14, 2005 <br />The ci�ry council hereby directs staff to prepare an analysis of the fiscal im.pacts <br />of the prapos�d Twin Lakes Redevelapment and Rattlund's request for TIF and <br />other public subsidies to support the proj�ct, includir�.g but not �zmited to <br />detailed estimates and analyses of the fallowing: <br />l. Costs of all new infrastrueture far the proposed redevelopment; <br />2. Costs of providing city services to the new d�velopment, and an analysis <br />of how these services will be funded if the addi�ional tax revenues from <br />�he new development are given to the developers in the foz'm of TIF or <br />other subszdy; <br />3. Costs of additional infrastructure and searvices outside of the <br />red�velopme�t area needed io support additional traffic generated by <br />redevelopment and/or mitigate traffic impacts; <br />4. Costs of all neeessary environmental clean-up/enviz-onmental impact <br />n�itiga�ion iz� conrlection with the redevelapment; <br />5. Cosis of all consultant and other professional se�ices in connectian with <br />the proposed redevelopznent and Rottlund's application for T�F and ather <br />public subsidies; <br />6. Costs of defendi�g litigation concerariing the propased redevelopment; <br />7. Losses oi future �ax revenue io the city due to TIF and other public <br />subsidies requested by Rottlund; and lasses of cuarrent tax revenue due <br />to hazardous substances subdistrict�; <br />8. Costs of issuing TIF Revenue Bonds, incl�ding interest and oiher debts <br />service cosis, and analysis of impact on city deb� load and bonding <br />capacity. <br />This fiscal zmpacts analysis shall be completed before the city council takes <br />any actian to approve Rottlund's applicat�on for TIF and other public <br />s�bsidies for the 'I'vvin Lakes project, and before the ci�r councii takes any <br />further action to approve or issue permits for the 'I�vin Lakes project. <br />