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