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Revised Financial Planning Scope of Work August 19, 2009 Page 3 · Does the renewed vision for RTC affect priorities and planning for other City-wide capital improvements? · How do options for funding capital improvements affect the dashboard analysis? For example, should the City create a special service district? If so, what costs will be funded and added to the analysis? . Are financial incentives needed to implement the plan? If so, how does the creation of TIP districts or the use of an abatement levy affect the analysis? · Does the sale of land need to produce revenues to pay for capital improvements? . How does the City fund capital improvements in anticipation of revenues from RTC? While we can identify an important role for Northland in planning for the future of RTC, it is difficult to provide a reasonable statement of tasks, hours and budget at this time. The nature of Northland's work is influenced by Landform's phase 1 visioning work, the development of the dashboard and the subsequent analysis of options for the sale of land. We offer three options to consider: 1. Divide our RTC work into two phases. Phase 1 would be a loosely defined set of tasks that allow us to continue to work with Staff and Landform to define the specific work to be done by Northland. This leads to a specific set of tasks and a budget for Phase 2 - participation in development and use of the dashboard. 2. Add time/budget to the Capital Improvements work to address issues in Phase 1 above. 3. Wait and create a scope of work and budget for RTC when more information is known. We would be happy to respond to other approaches suggested by Staff. Fiscallmpad Study Updating the fiscal impact study was not part of our original proposal. It does, however, appear fo . be an element of work that needs consideration. The broader property tax implications of options for RTC may be one evaluation criteria. The dashboard can project property values from the development of RTC. A retooling of our previous fiscal impact analysis would be needed to translate this information into future property tax rates. Should we begin to develop a scope of work and budget for this work? Please note that we will not have a specific proposal for Council action on the 25th. We would be prepared to discuss the concept and to get direction from the Council.