Agenda Packets - 1996/09/23 - Laserfiche WebLink

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THIS IS IT. . . . FOR THE WEEK OF SEPTEMBER 16 - 20, 1996 ADMINISTRATION • Pam and I met with Ed Paster and John Streeter last week on the impact of the pedestrian bridge, the easement the City needs and zoning issues Paster will want to address. The meeting went well and covered the positions we laid out in the recent Council work session. Paster will submit to Pam plans and variance requests, and the City will start condemnation procedures for the bridge easement this Monday. It is understood with Paster that the City must begin condemnation in order to ensure that the City and Paster can at some point agree to the terms of the easement, but not by having any zoning actions subject to those agreements. The City cannot bargain with zoning conditions since they must go through the Planning Commission and Council. The condemnation will however ensure that Paster pursues those variances. To date, it appears the venture will remain cooperative and the issues can be dealt with at face value,hopefully to the City and Paster's benefit. • Cathy and I, along with Julie Trude and Sue Hankner and our consultant Dave Maroney met with Everest earlier this week on their Building "N"project. We discussed prior to meeting with Everest that if the City were to enter into an agreement with them, what would be our preference. Basically the situation is the City can utilized existing tax increment funds to assist in financing some of Everest's development, bond for financing their development, or do a pay-as-you-go agreement where Everest does the financing, but the City refunds the increment Everest pays each ensuing year. The consensus was that would be the preference to approach Everest with, with the clear understanding that any approach would ultimately have to come to the entire Council for approval. The key advantages to a pay-as-you-go approach is that it will not deplete the City's existing TIF fund balance and that the risk is shifted to Everest since they will not get any increment until after they pay their property taxes. We presented them with this approach and agreed to analyze the details in the coming days. I anticipate meeting with them again the first part of next week.