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City Council Study Session — 04/19/04 DRAFT Minutes - Page 11 anticipated cluster of ideas and informative dialogue between the Panel and development team to provide the development team with a better understanding of the community; and the desire for the independent feedback from Panel participants. Community Development Director Welsch briefly addressed the financial aspects of a proposed project, noting that they were on schedule and that following the City Council's participation in the May 17, 2004 public workshop on finance and development regulation and policy, the City Council should be in a better position to provide developers and staff with additional direction related to gap strategies previously outlined by the City's Financial Consultant, Jim Casserly. Mr. Welsch further noted that a meeting synopsis of each Twin Lakes Advisory Task Force was on the City's website for public review. Councilmember Kough noted his reservations related to a Twin Lakes project due to the numerous risks involved; and sought clarification from Mr. Shardlow and staff regarding phasing of a proposed project. Discussion ensued regarding potential phasing options by the Master Developer and his pending strategies to address the anticipated financial gap; feasible strategic actions necessary for the project to proceed; attendance of Councilmembers at the Stakeholder's Panel meetings and the dynamic observed when Councilmembers were in attendance; and the desired outcome of the Panel meetings to receive active reaction from the development team and the community's and developer's expectations and available options. Boy Scout Troop 266 Welcome and Introductions City Manager Beets called Mayor Klausing's attention to one of the area's Boy Scout Troops who were in attendance at tonight's meeting. Mayor Klausing welcomed the Troop and invited them and their Troop Leader to introduce themselves to the City Council and television audience. Members of Troop 266, St. Rose of Lima, introduced