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City Council Regular Meeting— 04/25/OS <br />DRAFT Minutes - Page 21 <br />Pa�e 7, Site and Minimum Improvements <br />Discussion included definition of eligible costs as set by state <br />statute. <br />Page 8, Phasing <br />On paragraph 3 regarding linkage, Mayor Klausing requested the <br />addition of commercial "property" when discussion certificates <br />of occupancy issuance. <br />Discussion included the phasing of specific areas of the proposed <br />redevelopment; the Council's concern with the developer's <br />acquisition of parcels in Area 8 as critical to achieve an <br />economically feasible project; <br />Councilmember Maschka clarified the critical nature of Area 8 in <br />the economic feasibility of the entire project, and the City's right <br />to terminate the project if that property acquisition was not <br />achieved, to be clearly defined in the redevelopment agreement. <br />Further discussion ensued regarding linkage of housing to <br />commercial construction and the ratio; and phasing of the <br />residential portion of the project in comparison to the retail <br />portion. <br />Mayor Klausing expressed his concern related to Area 8 and <br />assurances that within 2-5 years, both the residential and <br />commercial portions of the project will be accomplished. <br />Councilmember Maschka noted the absorption rate with housing; <br />historical demographics to-date; and the need to get a draft <br />redevelopment agreement in place to determine feasibility issues. <br />Page 9, Quality of Minimum Improvements; <br />and Grants. Responsible Parties <br />Ms. Reiter reviewed formulations; developer concerns with a <br />multi-year contract; and market values. <br />Pa�e 10, Park Dedication FeelPublic Onen Snace Contributions <br />Discussion included clarification of language to specify land <br />dedication or fee options associatedwith the project. <br />