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• <br />City of Lino Lakes <br />Goals, Objectives, Management Action Plan: 2008 -2009 <br />STATUS REPORT AS OF END OF FOURTH QUARTER, 2008 <br />1. Goal: Complete Town Center <br />a. Specific Performance Objectives to be completed during 2008 <br />(1) Objective: Complete a Comprehensive Risk Assessment and <br />Definition of Potential Options available to the City for dealing with <br />emerging issues and conditions affecting the project (Second Quarter <br />2008) <br />a. Key Action Steps: <br />i. Review development and revenue schedules reflective of <br />current market assumptions <br />ii. Identify interim financing needs /options and sources, and <br />risk capacity tolerance <br />iii. Council consensus on follow -up actions <br />b. Lead Parties: Community Development Staff <br />Finance Department Staff <br />Key Contributors: Springsted Inc. <br />Kennedy & Graven <br />c. Funding Source: General Fund — CD Budget <br />STATUS: Staff with assistance from Springsted and Kennedy & Graven has <br />completed a risk assessment which was presented to the council on May 5, <br />Marshall Bank (title holder of property) has retained JBL Co. to market the <br />property. Staff has met with JBL properties and has provided them with <br />background and marketing information. <br />(2) Objective: Determine council's options and provide specific guidelines <br />to city staff on the direction council wishes to pursue in terms of <br />following events, managing the City's investment in Town Center, and <br />handling potential requests for changes to the City's vision and <br />approved plans for this project (Second Quarter 2008) <br />a. Key Action Steps: <br />• i. Determine whether to make any changes to existing <br />plans and development strategies for the Town Center <br />1 <br />