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City Council Regular Meeting — 08/09/04 DRAFT Minutes - Page 18 Mayor Klausing questioned whether the Council wished to schedule a special meeting for the sole purpose of receiving public comment to hear differing opinions. Councilmember Kough opined that making a decision at this time was not in the best interests of the City without holding a public hearing. Councilmember Kough further opined that a big box retailer was not a top priority, and according to the last public survey, a community center was a top priority but still hadn't been realized after over ten years. Councilmember Kough concluded by opining his support of the use of TIF'; opposition to G.O. Bonds; the drastic affect this would have on the City's budget and commitment to twenty-five years in a TIF' District; and the visual impact of putting a big box retailer and related parking at the site, diminishing the rural living aesthetics of the community. Mayor Klausing noted that the Council's intent was for the public good as well as the neighborhood's quality of life, and their actions tonight would continue to move the project forward, but were not a final decision, noting his own remaining questions of the project. 6.f Financing Plan Financing Plan [#2 — City Manager Bench Handout] Maschka moved, Schroeder seconded, to direct staff to work with Rottlund Homes to further developer and refine for future City Council consideration and action a financial plan, based on the following criteria: • The current pay-as-you-go Tax Increment Financing (TIF') Policy will not change; • Consideration of spreading fiscal disparities outside the district will not be considered; • Consideration to the use of General Obligation (G.O.) bonds will not be given, with the exception of use of G.O. bonds for a portion of the roadways given their community-wide value and justification as part of the overall community infrastructure; • Consideration will be given to the use of TIF'