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City Council Study Session — 06/21/04 DRAFT Minutes - Page 12 Stakeholder's Panel process, the Master Developer (Rottlund Homes) was charged to return to the City Council with an identification of land to be acquired to implement the plan and to provide financial feasibility; 2) End of December: The Developer was charged with refining their financial assistance plan; and to work up a final concept plan for the sanction or approval of the City Council; and 3) End of March of 2005: Provide a definitive plan for which the City Council could consider casting approval; then to prepare Preliminary Plats for specific areas. Mr. Noonan noted that this schedule had been at the suggestion of Councilmember Ihlan to phase the process into a more manageable scenario. Councilmember Ihlan concurred with Mr. Noonan's timeline, based on previous discussions and her recollections. Councilmember Ihlan noted that, on July 19, 2004, the Council's consideration of the financial feasibility of the project was a priority, and expressed her preference for as much information to be brought forward as possible as to the specific kind of support from the developer plan; the developer's proposed acquisition plan and whether the Council would be asked to consider eminent domain; anticipated financial implications and suggested financial gap strategies. Councilmember Ihlan opined that the more information the City Council had available to them at their July 19 meeting, the more productive the meeting would be both from the City's and/or developer's standpoint. Mr. Noonan concurred with Councilmember Ihlan's observations, but noted that the challenge was not to overwhelm participants; how to manage the process; and in general, the developer's preference for a process similar to that used for the Stakeholder's Panel, then more details and specifics provided at a later date. Mr. Noonan noted that, it was his intent on July 19, to provide a completed refined