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Assistant Community Development Director Trudgeon inquired if 80 percent of the City's cost <br />would include the Met Council grant and MSA funds. <br /> <br />City Attorney Goodrich replied yes. <br /> <br />Councilmember Kurak inquired if the City would have to assess themselves if they were to <br />construct a new City Hall within the Town Center since it would be located on Sunwood Drive. <br /> <br />City Attorney Goodrich explained that the discussions have been that that parcel would be <br />excluded fi'om the assessment. He noted that the project cost for phase I of the street <br />improvements, which would be Sunwood Drive, would be $5,172,000. <br /> <br />Councilmember Pearson inquired as to what was meant by citywide levies. <br /> <br />City Attorney Goodrich explained that the authority City has to guarantee that the general <br />obligation bonds will be paid and if the City were to default then they would have to levy for the <br />payment of the bonds. <br /> <br />Finance Officer Lurid noted that the debt service falls outside of the levy limits. <br /> <br />Councilmember Elvig inquired if the philosophy would be that the City would proceed with the <br />construction of Sunwood Drive as a phase I project and then wait until certain criteria are met <br />with the development until the City would obligate themselves to any further improvement <br />projects. <br /> <br />City Administrator Norman explained that in order for the City to move forward with the first <br />phase the developer will have to accomplish certain value creation. <br /> <br />Councilmember Elvig inquired if there was enough development potential to pay for Sunwood <br />Drive. <br /> <br />TIF Specialist Sullivan replied that that is what they are currently working on. <br /> <br />Councihnember Elvig stated that a year ago they had the developer stating that they would pay <br />for everything and now they are asking for the City to construct a road. If the development will <br />pay for the road then the City is acting as banker, which makes sense because then technically the <br />City would not actually be paying for the road. <br /> <br />Mayor Gamec stated that that was true with the exception of MSA roads and the Met Council <br />grant. <br /> <br />Councilmember Zimmerman inquired if the City spends 2.5 million in MSA funds on Sunwood <br />Drive will the City have other funds available for other roads in the City. <br /> <br />City Council Work Session/August 12, 2003 <br /> Page 3 of 11 <br /> <br /> <br />