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MINUTES <br />CITY COUNCIL <br />APRIL 2, 1990 <br />need to look at the proposal for expanding the <br />boundaries of the development district for this <br />project, and it is anticipated that the Planning <br />Commission could review the proposal at their April 5th <br />meeting. <br />The City Administrator reported that he has not had an <br />opportunity to go through the financial analysis with <br />Mr. Pelstring, but would be doing so tomorrow. <br />Fahey pointed out that the proposal was first submitted <br />to the City on Friday, and there has not been <br />sufficient time to do a full financial analysis. <br />Ippel reported that if a budget is established for the <br />project as part of the public hearing process, the City <br />will not be locked into the budget and the budget can <br />be adjusted to reflect the County's actions in setting <br />market values. <br />Fahey pointed out that a rezoning of the property will <br />require four votes of the Council, therefore, the <br />Council should come to a concensus on the rezoning <br />issue. If the concensus is to support the rezoning to <br />PUD, then the proposal should be submitted to the <br />Planning Commission for their comments. City staff <br />would then proceed to finalize the numbers, and the <br />City would require a letter of intent from the <br />developers. <br />The Administrator stated that he would discuss the <br />numbers with Pelstring tomorrow, Mary Ippal would <br />proceed to prepare the TIF plan for distribution on <br />Friday asking for written comments from the County and <br />School District, and the Planninq Commission would <br />comment on the establishment of the TIF District and <br />rezoning on Thursday. <br />Blesener pointed out that the City recently reviewed a <br />proposal for a residential development on this same <br />site, and asked Mr. Howe's feelings. <br />Mr. Estebrooks reported that at this point there is no <br />signed purchase agreement between the property owners <br />and Mr. Howe, therefore, there is no obligation to go <br />forward with Mr. Howe's proposal. <br />Mr. Gordie Howe reported that he had hoped to develop <br />the site with residential homes, but if the property <br />owners have a better offer and he can be reimbursed for <br />his time and costs, he would support the EMC proposal. <br />Page 3 <br />