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City Council Study Session — 06/21/04 DRAFT Minutes - Page 13 taY increment fmancing (TIF') analysis, along with an assessment as to sources and uses; then to introduce methods or strategies for closing the projected financial gap within the policy environment or context for evaluation purposes. Mr. Noonan further noted that, at that time, the various efficiencies of proposed gap strategies could be specifically defined (i.e., environmental mitigation grants). Mr. Noonan noted that additional work needed to be done on the developer's part with the revisions adding more residential area than the former plan, even recognizing that more residential generates more increments, but also a more detailed environmental clean up than to retail or industrial standards. Councilmember Maschka opined the need for everyone to understand, and for it to be made clear, that in order to make the project work, it would be necessary to have the economic engine that retail provides to the project. Mayor Klausing noted that that component would be an integral discussion at the July 19, 2004 meeting. Mr. Welsch noted that, on July 19, 2004, Finance Director Chris Miller had offered to review the City's redevelopment policies; and that Economic Development Specialist Cathy Bennett had advised that the last policies were adopted in the mid-90's and that State Statute, the Council's perspectives and market conditions had a11 changed. Mr. Welsch predicted that the Council would need to address some thought-provoking questions. Councilmember Kough requested that staff attempt to keep this as the agenda's main focus or topic, given its importance, in order to avoid distractions. It was the Council's consensus that the proposed schedule as prepared and presented by staff in the June 21, 2004 staff report was appropriate. 6.c Moratorium Ordinance Moratorium Community Development Director Welsch reviewed the Ordinance