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cost that the Master DeVeloper has indicated Would not be absorbable in the current market. The <br />amendment to the Master DeVelopment Agreement has indicated that the Developer <br />responsibility will be capped at $3,000,000 and be assessed over the land under the control of <br />RTC LLC. <br /> <br />The feasibility study will be distributed at the meeting but includes that amount as an assessment. <br /> <br />Parking Structures <br /> <br />The Master Development Agreement had Provisions to pay for the parking structure located in <br />Outlot L. Originally the conceptual estimate iwas $12,000,000 for this ramp. (1,200 stalls ~ <br />$10,000 per stall). The amendment to the Master Development Agreement sets the amount of the <br />assessment to $6,000,000, but anticipates both the parking ramp in Outlot L (600-800 stalls) and <br />the municipal parking ramp (600-800 Stalls). <br /> <br />The feasibility study will be distributed at the meeting but includes that amount as an assessment. <br /> <br />Recommendation: <br /> <br />Staff recommends a motion to receive the feasibility studies and setting the date of the public <br />hearing and assessment hearing for the FebrUary 8, 2005 City Council meeting for each of the <br />above mentioned projects. ~ <br /> <br />Council Action: <br /> <br />Motion to receive the feasibility studies :and Setting the date of the public heating and the <br />assessment hearing for the February-8, 2005 City Council meeting for each of the above <br />mentioned projects. <br /> <br />Reviewed by: <br />RTC Staff team: <br /> <br />City Administrator <br />City Attorney : <br />Assistant City Administrator <br />Director of Public Works/Fire Chief <br />Community Development Director <br />Finance Officer <br />Assistant Director of Public Works/Principal City Engineer <br /> <br />CC: 1/21/05 <br /> <br /> <br />