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6 <br /> • costs and taxes payable during those 90 days at approximately <br /> $3 a square foot . <br /> Motion by Ranallo, seconded by Enrooth, to approve the Apache <br /> lease agreement . <br /> Motion passed unanimously. <br /> EVERGREEN TOWNHOUSES PROPOSAL - Further Discussion <br /> Council Member Ranallo suggested that the Council review <br /> their position on the Evergreen matter. <br /> Mr. Soth reviewed thehistory of the development agreement <br /> for the Council . He stated that when the pay-as-you-go plan <br /> was initially proposed it was acceptable because there was no <br /> risk to the City. He stated that approximately six to eight <br /> months ago he had prepared a development agreement that did <br /> not provide for investor notes but provided that the City <br /> would make payments to reimburse the developer for soil <br /> correction work as the tax increment revenues came in. <br /> Mr. Soth stated that at that point, due to other <br /> difficulties , discussions between Evergreen and the City were <br /> • temporarily delayed until recently. The agreement was : _ ' <br /> changed to allow notes to be sold to investors provided r <br /> Evergreen indemnify the City. At that time , Mr. Soth stated, <br /> an opinion was requested of Dorsey and Whitney that the notes <br /> were tax exempt . Dorsey and Whitney was not able to offer <br /> that opinion, nor was counsel for Evergreen. <br /> Mr. Soth indicated that further discussion has taken place <br /> between the attorneys regarding running the notes directly to <br /> ,the investors versus running them to Evergreen. Mr. Soth <br /> reported that counsel for Evergreen agreed to explore that <br /> possibility, but that their' position on that matter is at <br /> this time unknown. <br /> Council Members Marks and Enrooth pointed out that the school <br /> would be- the beneficiary of approximately half of the revenue <br /> generated by the project as proposed, while the City would be <br /> a minor beneficiary some twelve years from now. <br /> Council Members Ranallo and Marks expressed the view that <br /> taxpayers should not be asked to, in effect, subsudize a <br /> developer. Mayor Sundland agreed, stating that the City can <br /> aid the development process in many ways other than by <br /> assuming risk unnecessarily. <br /> ST. ANTHONY HOMEOWNER ' S QUESTIONNAIRE <br /> • <br />