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Mayor Ramsey believed the City should keep all options open at this point. <br />Mayor Ramsey believed the City would need option B quickly in the future. <br />Councilmember Elvig requested a graph as to what has been occurring over the past ten years <br />with the other TIF districts. <br />Councilmember Jeffrey arrived at 6:28 p.m. <br />Mayor Ramsey requested staff to analyze whether any other TIF Districts could switch to option <br />B. <br />Councilmember Wise stated he was in favor of giving flexibility now and moving it to option B <br />in the future. <br />2) Review Flaherty & Collins Brier Creek Project <br />City Administrator Ulrich reviewed staffs report. <br />Councilmember Elvig asked Mr. Flaherty if there were other projects they were moving forward <br />with that had financial needs. <br />Mr. Flaherty, Flaherty & Collins, responded globally in the real estate world for the past three <br />years it really shut down financing with a few exceptions including HUD. He noted they were <br />able to proceed with one HUD housing as well as some projects that had stimulus funding. He <br />stated in the past year they have closed on five deals, with four of those deals having bank <br />financing. He noted apartments were the easiest and most desired by lenders to finance. <br />MAYOR, COUNCIL AND STAFF INPUT <br />None <br />ADJOURNMENT <br />The Work Session of the City Council was adjourned at 6:55 p.m. <br />Respectfully submitted, <br />Kurtis G. Ulrich <br />City Administrator <br />City Council Work Session / December 14, 2010 <br />Page 2 of 3 <br />