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Strategic Financial Planning June 19, 2009 Page 3 Approach To accomplish these objectives, Northland proposes to perform the following tasks: 1. Work with City Staff via phone and email to collect information on existing financial commitments and future improvements. 2. Create RTC financial planning model. This model will incorporate past work by Staff on funding of existing improvements and by LSA Design on funding of land acquisition. The model will project the costs of funding future public improvements in the RTC area. The model will separately identify the sale price and timing of each development parcel in RTC. It will be designed to allow the City to test the financial implications to changes in assumptions about future land sales. 3. Analyze special service district. An outstanding issue for RTC is funding for the operation and maintenance of existing infrastructure and streetscape. In this task, we will work with Staff to identify potential maintenance costs. We will analyze options for spreading these costs among RTC parcels and include these costs in the overall analysis. 4. Conduct staff workshop. Northland will conduct a workshop with City Staff to review interim results. We will use this workshop to verify assumptions, explain initial findings, obtain Staff guidance on modifications, and set a calendar for Council workshops. 5. Prepare background memorandum. Northland will prepare a memorandum that provides background information for the City Council. The memo will explain the assumptions, approach and findings of our initial planning. 6. Conduct Council workshops. Northland will design and conduct up to three (3) workshops with the City Council. These workshops will be used to build a common understanding of the issues and to reach agreement on policies guiding future improvements and the sale of RTC land. 7. Create final products. Deliverables from this project include final RTC financial planning model for ongoing use by Staff and written report summarizing results of our work, policy decisions of City Council and additional action steps (if any). We expect to begin work in July and complete all tasks by the end of 2009. Timing of completion is tied to the ability to schedule CoUncil workshops and reach needed to reach agreement on policy guidelines. Budget Northland will perform the tasks described above for a cost not to exceed $10,400. Capital Improvements Our initial discussions with Staff have identified a series of important capital improvements projects facing the City over the next five years. These projects include: . Commuter Rail Station. . Parking Ramp Expansion.