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®9 City Council Regular Meeting Minutes August 26, 2003 Page 9 l 2 Councilmember Sparks stated she was worried about the park. 3 4 Mayor Hodson indicated he thought everyone was perfectly clear regarding what was needed to . 5 make this happen. He asked about the value of the project, in its entirety, to the community. Ms. 6 Kvilvang responded the value was potentially$250 million with full development. 7 8 Mayor Hodson asked if fiscal disparities within the district were uncommon for a project of this 9 magnitude. Ms. Kvilvang replied she was not going to respond, as that should be a local 10 decision. She added communities have chosen both options. 11 12 Mayor Hodson asked what type of burden would come to the residents if the City went outside 13 the district. He added the City continually came to this point and then a project would dissolve. 14 He stated he felt the residents were tired of that result and they should have an opportunity to 15 review the costs and give feedback to Council. He noted he would not close the door as sharply 16 as Councilmember Faust. Councilmember Faust responded those figures would be known on the 17 30th. 18 19 Mr. Morrison suggested Ehlers be allowed to come to the next meeting with those figures. 20 21 B. Resolution 03-066 re: Sale of CUB Foods. 22 City Manager Mornson noted this resolution enabled Scott Tankenoff's group to sell its property 23 to the developer. 24 25 Motion by Councilmember Faust to adopt Resolution 03-066 acknowledging SBT, LLC's 26 acquiescence to tax increment assistance financing, planned unit development and platting a 27 portion of the Northwest Quadrant Redevelopment Project. 28 29 Discussion: 30 31 Councilmember Sparks indicated she wanted it to be clear that this did not really involve CUB 32 Foods but SBT, LLC. She asked why this resolution needed to be passed. City Attorney 33 Gilligan responded the City was acknowledging the fact that SBT would not interfere with this 34 development. He added SBT requested this and the City was trying to accommodate. 35 36 Motion carried unanimously. 37 38 C. Resolution 03-070 re: Feasibility study on 39th Avenue NE improvements. 39 Todd Hubmer, WSB and Associates, Inc., noted this resolution ordered the preparation of a 40 feasibility report for the construction of 39th Avenue from Silver Lake Road to Stinson Avenue. 41 He added the project was to be completed as a public improvement, which included construction 42 of new streets, water main, sanitary sewer and storm sewer to serve the proposed Northwest 43 Quadrant Redevelopment Area. 44 45 Mr. Hubmer provided Council a Proposed 39th Avenue Improvement Schedule. 46