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City CounciI Regular Meeti�zg — 06/20/05 <br />DRAFT Minutes - Page 24 <br />spillover development in surrounding areas that will <br />increase �he fiax bas�; and Councilmember Ihlan's <br />continuing request for an estimate to quantify what the new <br />services for the project would cost the City. <br />Councilmember Ihlan refierenced a report fram t�ae City of <br />Arden Hills related to the proposed Twin Cities Army <br />Ammunition Plant (TCAAP} development and their <br />analysis of tax payer cast�; questioning why the City of <br />Rc�seville would not do the same type of report for their <br />citizens. <br />Additional discussion and clarification included the <br />creation ofi` the hazardaus Substance Subdistrict and <br />impacts to the existing tax base; Ram�ey County <br />Assessment proc�dures and undervaluation of properties <br />within the County; uses, revenues and gap financing and <br />the ra�ionale for the Ci�y's involvement in this project from <br />a global perspective. <br />Robert Strakota, Appraiser <br />Mr. Strakota addressed the state-wide property valuation <br />phenamena in mass market appraisals and paym�nt of real <br />estaie taxes based on values les� than paroper�y sales. Mr. <br />Strakota advised that, to make sure the project's financial <br />�easibiliiy had been measured accurately, the developer had <br />attempted to provide realistic property acquisition costs. <br />Mr. Strakota reviewed his calculations an the development <br />praperties based on estimated values and t�es on <br />commercial propertie�. <br />Mayor Klausing opined his complete agreement to ihe <br />housing component of the project; and spoke to the <br />ratiana�e for mixing housing and retail, as noted by the <br />developer, in order to market the property based on density, <br />anchor tenant destination, the hard edge of Couniy Rnad C <br />and �`reeway no� being attractive far housing; and the <br />enviranmen�al clean up to be realized at the highest level <br />on the south �ide �f the lake. <br />Councilmeinber Kough qu�stioned Section 5.7 of the <br />