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City Council Regular Meeting — 03/28/05 <br />DRAFT Minutes - Page 19 <br />Insurance Trust (LMCIT) provided oversight of the attorney's <br />activities and submission for hourly fees. Mr. Beets further <br />noted that the City was responsible for the first $100,000 in <br />defense exposure costs. <br />10. Report on the Payment of Attorney Fees through <br />TIF/Economic Development Account <br />Councilmember Ihlan had previously requested the manner in <br />which the City has paid for attorney and other consultant fees <br />related to the Twin Lakes Redevelopment project, and whether <br />it was appropriate to allocate costs to some future tax increment <br />district. <br />Finance Director Miller noted that staff was capturing all costs <br />related to the project in a separate fund for tracking purposes; <br />with the funding source existing City reserves specifically <br />designated by a previous Council for upfront economic <br />development activities. Mr. Miller advised that staff was <br />following existing Council directive and current practice; but <br />City Council discretion and direction could change that directive; <br />but his recommendation from an accounting perspective, would <br />be to continue using funds as per current practice. Mr. Miller <br />noted that the funds were from surplus monies from the creation <br />of TIF' Districts that had been pooled. <br />Acting Mayor Maschka concurred with staff's recommendation <br />and the appropriate use of this funding. <br />A1 Sands, 2612 Aldine <br />Mr. Sands disagreed with the assertions of Mr. Miller, <br />referencing a recent e-mail requesting Mr. Miller to identify <br />specific meeting minutes designating funds. Mr. Sands opined <br />his perception of the origination of the funds. <br />Mr. Miller stood by his reference to that in the e-mail at $2 <br />million. <br />Councilmember Ihlan reiterated past comments and concerns <br />related to expenditures for consultants for the Twin Lakes <br />development; and expectations that the City will recover or <br />reimburse themselves for upfront funding, applying undue <br />Report on <br />Payment of <br />Attorney Fees <br />through <br />TIF/Economic <br />Development <br />Account <br />