Laserfiche WebLink
Councilmember Johns stated she agrees with her fellow Councilmembers. She asked whether <br />there will be a financial impact to the TIF district in terms of the amount of compensations that <br />must be paid. <br />Assistant to the City Administrator Brama stated the TIF is based on annual tax revenue gain and <br />the sale of property is an up -front transaction, so they are not connected. He added the land sale <br />analysis would change, but not the annual revenue stream. <br />Councilmember Riley asked whether Landform would be required to complete contracts that are <br />underway when their contract expires. <br />City Administrator Ulrich confirmed this. <br />Councilmember Backous stated, with regard to Landform compensation payment, he would want <br />the City to have full and true cost information before entering into any potential deals. He added <br />there are many technicalities in play that will complicate the issue, and if there will be a great <br />cost to the City, another broker should be engaged to expedite the process. <br />City Administrator Ulrich stated CBRE's contract provides for negotiating incentives <br />compensation, so the City will have some ability to negotiate that in advance to eliminate <br />potential issues. <br />Mayor Strommen stated the City Council had discussed the possibility of a double compensation <br />scenario in the past. She thanked City staff for raising the issue again, so the Council is aware of <br />the risks and deals can be forwarded through the process. She stressed the importance of the <br />provision of a documentation timeline by City staff. <br />City Administrator Ulrich agreed. <br />Councilmember LeTourneau agreed, stressing the importance of transparency throughout this <br />process. He stated the City may need to provide documentation at some point. He added a <br />project management plan should be put in place by City staff to make sure all aspects of the <br />process are traceable. He noted this will be seen as an excellent example of the City's <br />commitment to the good faith process. <br />City Administrator Ulrich requested that the City Attorney draft a document with guidelines and <br />procedures for City staff with regard to this issue. <br />City Attorney Langel agreed. <br />City Council Work Session / January 21, 2014 <br />Page 6 of 11 <br />