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City Council Study Session — 07/19/04 DRAFT Minutes - Page 22 determine if other resources were available or funds that could be advanced for an interim time. Councilmember Kough questioned the phasing of the proj ect; higher tax generation of housing; and ways to reduce the City's risk. Mr. Casserly noted that this phase of the development currently under discussion was only approximately 1/3 of the total development. Councilmember Ihlan questioned a possible gap strategy not yet explored in more tax generation with more housing and less retail as a tax base, gaining more increment without fiscal disparity issues. Ms. Ihlan opined that the entire process seemed to be backwards, with many unknowns and assumptions; with a maj or portion of the proj ect not consistent with the Master Plan. Mayor Klausing noted that Councilmember Ihlan's points were good for discussion at a later time, but tonight's meeting was to review various mechanisms for different financial strategies, rather than a discussion of policy. Councilmember Ihlan opined that it may not even be appropriate to use these tools depending on the financial feasibility of the project; further opining that the policy discussion needed to be resolved before going forward on other aspects of proj ect. Mayor Klausing concurred with Councilmember Ihlan's suggestion that tonight's information be taken under advisement by the Council over the next few days; and that Councilmembers be prepared for discussion at the August 9, 2004 regular Council meeting to provide direction and priorities to staff, as outlined by Community DevelopmentDirector Welsch. City Manager Beets noted that staff also needed to consider tonight's discussion, and would attempt to consolidate the discussion into a format related to financial aspects, land use and priorities to facilitate Council discussion at that meeting. Councilmember Kough noted the demographic make up of the