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Live. Work. Play. <br /> <br />TOWN CENTER PROJECT MANAGEMENT <br /> By James E. Norman <br /> <br />Background: <br /> <br />The City Council authorized project management services with LSA Designs during the <br />Council meeting on December 13, 2005. As part of that action, the City Council directed <br />that the first assignment to the new project management role is to complete the detail <br />work of financing their services which may include establishment of dividing district <br />financing within the Town Center. <br /> <br />The project management role is critical to success of the Town Center because the City <br />has made significant financial commitments to the project. The project management role <br />would be to coordinate all the different stake holders involved in the core area, create a <br />core process to address each individual project and bring about a productive schedule for <br />accomplishment of the vision the City and the Master Developer have for the Town <br />Center. <br /> <br />After a brief review of the first amendment to the Master Development Agreement, it has <br />been determined that special service district, called the "parking district", has been set up <br />to encompass the entire core area and allows the City to levy and collect parking-related <br />fees for all the structured parking. After review with the consulting attorney, it was <br />determined that the nature of other services would not fall under the definition of <br />"parking maintenance" and could be easily challenged by the RTC or the banker and <br />future land owner. <br /> <br />After review of the current special taxing district, staff would like the applicant to discuss <br />three options with the City Council: <br /> <br />Option No. 1 - To the extent that the City exercises its options on land within the core, it <br />could recover any and all fees resulting from the purchasing of land and subsequent <br />holdings (cinema, community/fitness center). As an example, after the City completed a <br />lease deal with the cinema group, it would recover costs of project management services <br />and expenses from any positive cash or lease proceeds of that deal. <br /> <br />Option No. 2 -The City hires the project management services, and other related <br />expenses to assist the City with projects that would otherwise have been done by City <br />staff but cannot, due to the current work load demands. <br /> <br />-5- <br /> <br /> <br />