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CITY COUNCIL WO ! S SION <br /> Topic Report: RTC a"nd l idniei al Center <br /> <br /> By: DianaLund, Finance~Offi~e~ iii <br /> <br />Background: <br /> <br />With the amendment to the M~ter Devo~lo ~pme~nt Agreement between RTC and the City <br />recently adopted, the City need~ to begid file Pmcess of ~nding for the Phase II <br />improvements, AUAR RoadWaYs, and p~r~ing[ramps. At the worksession of March 29, <br />Paul Donna, the City's Finanq~l Consu[~t, p~esented info~ation regarding the creation <br />of a PIR fund which allows alt~bond gmce~ds~ Msessmems, etc. to be deposited into one <br />account. By creating this ~n~w~eh ~o~d be temed RTC projects, the Ci~ has the <br />flex~bdity of bmug able to use ~he ~ds ~at have been collected (assessments), imer~nd <br />transfers (utilities), grants, and bond Pr°~eeds ~ pay off construction costs on any of the <br />RTC projects. ~ ~ <br /> <br />An updated analysis of the fiscal impact~ode[-was also distributed at the March 29 <br />worksession. The model inc°~orates ~ ~x :iCpact for the City's ponion of the RTC <br />projects and the new Ci~ M~eipal Ce~t~ f0~ the next several years. It was detemined <br />that the amount levied for yea~ 2006 needs~to ~e restmc~red in such a way as to be in <br />line with the tax capaci~ rate 0f pdor y~arS. I~was requested that different scenarios be <br />presented as to how the total ~ capaCiW rhte df 2006 can be lowered to a more <br />manageable level. These different scen~r~s b~ing internal loaning, capitalized interest, <br />budget adjustments ~d 2005 aXc~s revenue. ~ <br /> <br />The different scenarios will be revieWed~t°:detemine total necessary project bonding. <br />Review and discuss RTC and Municcal~Cente{ financing <br /> <br />CCWS: 4/5/05 <br /> <br /> <br />