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Regular City Council Meeting Monday,June 13,2011 Page 14 1675 County Road C, in order to perform an asphalt overlay on the south half of the parking lot. Mayor Roe closed the Public Hearing at 7:30 p.m.; with no one appearing for or against. 12. Business Items (Action Items) a. Consider Request for a Variance to the Noise Ordinance to Extend Construc- tion Activity Hours at the Rosedale Square Shopping Center Johnson moved, Pust seconded, adoption of Resolution No. 10907 (Attachment C) entitled, "Resolution Requesting a Variance from City Code, Section 405.03, Hourly Restrictions on Certain Operations for Rosedale Square Shopping Center, 1601-1675 County Road C." Roll Call Ayes: Johnson; Pust; Willmus; McGehee; and Roe. Nays: None. 11. Public Hearings b. Conduct a Public Hearing Regarding an Amendment to TIF District #18 Plan and Development District#1 Community Development Director Patrick Trudgeon briefly summarized the re- quest as detailed in the RCA dated June 13, 2011. Mr. Trudgeon advised that and introduced Ms. Mikaela Huot with Springsted Incorporated, the City's financial consultant, to answer questions as applicable. Mr. Trudgeon advised that repre- sentatives of Sienna Green were also in the audience and available for questions. Mr. Trudgeon noted that the proposed amendments were minor and being re- quested due to the recent acquisition of the triangle parcel; increased value of Phase I of the project; and the financial gap for Phase II determined to be a maxi- mum of$935,005. Mr. Trudgeon reviewed the two (2) requested actions current- ly before the City Council; advising that the TIF Development Agreement was an- ticipated for presentation tonight, but as previously noted, had been deferred to next week's meeting to allow finalization of several remaining items. Mr. Trudgeon advised that the TIF would be "pay-as-you-go," with no bonding re- quested; and advised that the TIF Plan provided a framework for the funding, but that no money would be authorized until the City Council approved the Develop- ment Agreement. Mayor Roe clarified that the District remained in effect and generating TIF dollars at this time, whether amended or not. Mayor Roe further clarified that the ability of the TIF District to fill the gap requirement was still there, and had not changed.