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11 <br /> City Council Regular Meeting Minutes <br /> August 22, 2000 <br /> • Page 10 <br /> 1 Internet banking should not occur as predicted, their check business will survive and they <br /> 2 believe it will be a good and-profitable business for them for years to come. Mr. Malone <br /> 3 commented on the structure of credit unions as a non-profit'entity and struggle to <br /> 4 compete with large banks in bringing services to their clients. He explained how they <br /> 5 have determined a strategy to work with credit unions to assist them in marketing <br /> 6 products to their clients. Mr. Malone advised that Liberty is privately owned, has turned <br /> 7 down several offers for purchase, and is in the process of devising a plan to sell the <br /> 8 company to the employees upon the owner's death. He stated while they are planning <br /> 9 very carefully, no one can guarantee the longevity of a business. Thuesen stated it <br /> 10 appears Liberty has made an effort to'diversify. <br /> 11 Horst asked if Liberty will have significant input on what happens with the rest of the <br /> 12 development related to outside appearance and other tenant mix. Mr. Malone stated they <br /> 13 do not have veto power but have indicated the uses must be compatible with Liberty's <br /> 14 image to assure it does not-detract from their operation. He stated they have made it <br /> 15 clear in the written specifications to Hillcrest Development that the other uses cannot be <br /> 16 incompatible with Liberty or effect them negatively (noise, dust, heavy traffic). <br /> 17 Cavanaugh inquired regarding the size. Mr. Malone stated the first phase is 80,000 <br /> 18 square feet. <br /> 09 Mr. Tankenoff clarified the schedule dates Mr. Shardlow mentioned are the "outside" <br /> 20 dates and the landscape percentages are minimum amounts. He stated the exclusive <br /> 21 marketing date is June of 2001. Mr. Tankenoff stated Liberty has agreed to speak with <br /> 22 the Council and community but other tenants are not comfortable coming forward at this <br /> 23 time. He stated that while Liberty will be the anchor tenant,the fascia would have to be <br /> 24 something that is compatible;for all tenants. He noted the 30%to 40% increase in the <br /> 25 preferred plan with a tenant,like Liberty. Mr. Tankenoff stated their goal is to meet more <br /> 26 than the mark and to over deliver what is being stated. <br /> 27 Mr. Tankenoff delivered a lengthy statement reviewing the number of public meetings <br /> 28 held on this project since January 2000, input from'a neighborhood group, and their <br /> 29 diligent work with City staff and the Council on TIF issues. He stated his professional <br /> 30 opinion that this building is not suitable for demolition. Be stated that while there are <br /> 31 worn components,the infrastructure is not flimsy and this issue has been studied and <br /> 32 confirmed by their consultants. Mr. Tankenoff suggested that other types of uses could <br /> 33 result in impacts to the tax structure, school system, and levy. He suggested that the <br /> 34 market has spoken, since this property has been studied and considered in different ways <br /> 35 and is still being discussed today: Mr Tankenoff stated that there is probably not a <br /> 36 perfect plan or a perfect contract but there are good intentions and asked the Council to <br /> 37 consider other projects by,_HIl prest Development and its track record. He suggested the <br /> 38 existing building shows a lack of ownership commitment, dedication, and long-term <br /> • <br />