Minutes - Council - 07/20/2004 - Special

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should stipulate if they want them paid off at the time of the building permit. This will likely be included in the Development Agreement Amendment. It was discussed in the minutes of the last meeting held regarding these amendments. City Attorney Goodrich indicated the Master Development Agreement states the assessment must be paid off at the time of sale. Councilmember Elvig stated the Master Development Agreement has a stipulation that the master developer or secondary developer has to pay that assessment, and he does not see that the Council bas changed their position at all on this. The 22 acres is coming back as a special assessment. Counci hncmber Cook questioned when all the aspects of this Development Agreement Amendment would be acted on. Mr. Lasher replied the action of the Council tonight would only agree to the stipulation of the transfer of $836,566.33 to RTC if they produce letters from PACT Schools and DR Horton and a promissory note fi'om the bank. The benchmarks and transfer of land would still require Council approval. City Attorney Goodrich advised an assessment agreement will be needed from DR Horton and PACT Schools, rather than only a letter of agreement. Councihnember Strommen stated she is struggling with assessing residential properties for parl¢ing structures when those residents will have their own parking facilities at their homes. This is a pedestrian community in design, and they would be charging the residents for a parking structure. Anyone outside of Town Center would be more likely to use the parking ramp than the residential properties inside Town Center. Counci hnember Kurak commented when they first started Town Center the Council was adamant that Town Center would pay for itself and they would not assess people outside of those 320 acres. If they are going to be able to assess and get the roadways in they will have to look at assessing the residential properties in that 320 acre parcel. Counci hnember Strommen indicated she is not suggesting people outside of Town Center should be assessed, but she does not understand that people inside Town Center would be assessed. She understands the businesses being assessed, but not the residents. Counci hnclnber Elvig commented they are not necessarily assessing the homeowners; they are assessing thc developer of the properties. If the developer chooses to pass that along in the market they may be able to raise the price of the house, or they may have to take it out of their profits. To get this to work they need to assess these areas, if they tried to assess only the commercial properties they would never be able to complete this. City Council/July 20, 2004 Page 4 of 7