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City Council Study Session — 07/19/04 <br />DRAFT Minutes - Page 21 <br />determining resale value of land; land use as incorporated by <br />City vision; and the methods used to define actual appraised <br />value of land; comparison of comparable sites with specific <br />density and similar end product desired; phasing times; and <br />compilation of all costs in making the property reusable. <br />Mr. Casserly further reviewed negotiating factors for the Council <br />to consider in the process in maximizing the value of the land <br />and accomplishing the goals of the City, as well as the developer. <br />Mr. Casserly noted that it would require time to integrate all of <br />these components, and they were there to help the City achieve <br />their goals, and were now at a point in the process where they <br />were awaiting direction from the City Council. Mr. Casserly <br />further noted that, were the City to acquire the land, they would <br />need to pay the absolute land costs, relocation costs, and <br />demolition. Mr. Casserly opined that he saw no unusual costs in <br />the developer' s proj ections. <br />Mi-. Casserly addressed City Manager Beets' comment regarding <br />Greenfield versus Brownfield properties in communities, noting <br />that all older cities with environmentally challenged property <br />experienced the same issues and investments in redevelopment <br />of the property. <br />Mayor Klausing noted that if the property were all rezoned as <br />retail, there would be no problem, but due to the City's desire for <br />additional housing and office space, it created special land use <br />and value issues. <br />Mr. Casserly continued to detail the various individual gap <br />strategies, noting that some of the strategies, when taken <br />together, have an affect that is greater than their individual parts <br />and can enhance what's available. <br />Councilmember Maschka questioned how the Council, in <br />making policy decisions, got to the point of creating a set of <br />parameters from a policy standpoint. <br />Mr. Casserly responded that with his fian working with the <br />development community on a continuing basis, and by testing <br />various strategies in the market place, they were able to make <br />qualified suggestions to and work with the Council and staff to <br />