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REQUEST FOR COUNCIL ACTION <br />DATE: ���19/04 <br />ITEM NO: 8. <br />Department ApprovaL• Manager Approved: Agenda Section: <br />DPW <br />Item Description: Twin Lakes Financial Analysis (PF 3552) <br />1.0 REQUESTED ACTION - DISCUSSION <br />Attached is the Twin Lakes Redevelopmentfinancial analysis being completedby Jim Casserly. The <br />strategies identify the sources and uses within Phase 1 of the Twin Lakes project. This Phase 1 <br />project consists of the redevelopableparcels south of C-2, east of Cleveland, north of CountyRoad C <br />and west of Fairview Avenue. <br />The estimated new value to be created in Phase l, alone, is $220 million and will consist of 500 to <br />600 higher density housing units (Rottlund) and 330,000 s.f. of office (Ryan) and 330,000 s.f. of <br />retail (RosevilleProperties\Welsh Properties). <br />After review of these findings the City Council may wish to establish the next set of ineetings, <br />beginning August 9th to review more refinement of these documents. <br />2.0 SUGGESTED COUNCIL ACTION <br />2.1 Discussion and provide direction before further refinement. <br />Preparedby: Dennis Welsch (651-792-7071) <br />�:tiPLi.NAJC4� �4f+ID �Nal�]�4NNaf�3,�� ����-3_�tik��_�v,v� Lakes StakeholdersPaneARCA_Twin Lakes Finance(071904).dac <br />PF3552 - RCA (07- -04) - Page 1 <br />