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City Attorney Goodrich advised the assessments should be paid on-sale with the residential <br />properties. <br /> <br />Mt'. Feges indicated this was discussed and it was concluded the assessments of the residential <br />properties would most likely be paid on-sale. <br /> <br />Mr. Lasher indicated the traffic mitigation portion of the AUAR will be reviewed to determine <br />thc concerns raised by Councilmember Elvig regarding the AUAR improvements, <br /> <br />Councilmember Elvig questioned if the AUAR road improvements are required to be completed <br />all at once, and how they will be funded. <br /> <br />Assistant Development Director Trudgeon replied the improvements will be done in increments; <br />however, once the bonds are pulled they will want to have the improvements completed right <br />away. <br /> <br />Councilmember Elvig stressed the need to get the cash back in on per-sale items, as the City will <br />have a full load on their shoulders immediately. <br /> <br />City Attorney Goodrich advised what has changed with the three million dollar figure regarding <br />the AUAR improvements is that 14 million dollars is potentially the cost of the AUAR <br />improvemel~ts, with four million dollars being paid by the county and three million dollars being <br />assessed to the special district. This leaves seven million dollars in costs for the City. Assistant <br />Public Works Director Olson has indicated that all of the AUAR improvements may not need to <br />be completed. The Developer had originally indicated they would be responsible for six million <br />dollars in improvements, and are now requesting that amount be capped at three million dollars. <br /> <br />Mr, Lasher indicated a cash flow analysis regarding item three will be prepared for the Council to <br />review. <br /> <br />Mt'. Lasher rcviewed item four of the Document. <br /> <br />Councilmember Strommen questioned if the six million dollars to be divided betwveen <br />assessments for the construction of two or more parking structures would cover the amount that <br />would be obligated to be assessed. <br /> <br />Mr. Lasher replied the original agreement was for one ramp. This amendment would allow more <br />flexibility. <br /> <br />City Attorney Goodrich advised this would relate to residential property as well. Staff thinks it is <br />important that il' RTC is not responsible for these assessments and they are due on sale, that there <br />is language included so the secondary developer pays those assessments at the time of platting. <br />This would keep a Phase I parking ramp from being paid off by a townhome over ten years. It <br /> <br />City Council/June 29, 2004 <br /> Page 4 of 11 <br /> <br /> <br />