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Mr. Sullivan responded that you are looking at $4.8 million, which represents TIF <br />Districts 1 and 4. If we do not decertify these early, in theory that money could be spent <br />on some larger projects. He suggested somewhat of a compromise. <br />Mayor Ramsey stated that if we let them run full course, we will be able to capture an <br />additional million and a half dollars to use on TIF projects. <br />Mr. Sullivan stated that the important thing tonight is to understand what we need to do <br />to make this project happen. If Council agrees on the Oasis property, Mr. Sullivan stated <br />he could set up an interfund loan and summarized that process. <br />Councilmember Look asked about TIF eligible projects to which Mr. Sullivan mentioned <br />sewer, water towers, roadways, etc. <br />Councilmember Look stated that we are looking at using money within our General Fund <br />at one point that could equal $1.7 million but rather than decertifying, we could use the <br />balance on these projects — he was not sure there would be a benefit to decertifying. <br />Mr. Sullivan stated this is a Council decision — we have a budget — we have reached our <br />budget maximum. <br />City Administrator Ulrich disseminated a memo from Northland Securities, which talks <br />about projects that could be considered with pre -1990 TIF Districts. <br />Mr. Ulrich stated the following for understanding: Hold tight — bring analysis back to the <br />City Council another day with our consultant and move forward. Go ahead with Oasis — <br />they will be on the next agenda unless there is opposition to that. <br />Mr. Sullivan added that we have to write a check September 14 so that's why we would <br />do an interfund loan. That gives us permission to finance internally. <br />Mayor Ramsey questioned the County buying the property — but the City really is. <br />Mr. Ulrich responded that the County is acting as the purchasing agenda — they are <br />authorized by the Joint Powers Agreement to purchase the property and we are <br />authorized to pay for it. <br />Councilmember Elvig asked who gave the County permission to go out and purchase this <br />property. <br />Mr. Ulrich replied that the City Council gave authorization to move ahead with Phase I <br />and that includes the purchase. <br />Councilmember Look stated that Council was never told we were reimbursing for right- <br />of-way. <br />City Council Work Session — June 30, 2009 <br />Page 6of17 <br />