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He noted that those two elements were approved, and Capstone proceeded with the preliminary <br /> plat in order to reach this point. He stated that they are concerned because there is now a discussion <br /> about underwriting and that is being used in a manner to say that if Capstone does not want to go <br /> through underwriting,it could forego the$350,000 the City offered to pay for the tree preservation <br /> area or could pay $272,000 for Riverdale Drive. He stated that means that the framework <br /> originally approved as significantly changed. He noted that the initial funding gap in the original <br /> framework for the County was $117,000. <br /> Chairperson Riley thanked Capstone for being present as they have been a great partner and <br /> developer in the community. He stated that it appears that Capstone agrees to the framework but <br /> is concerned with the tree preservation dollars and the Ehlers underwriting. He stated that it <br /> appears the Pearson family is concerned with the land value. <br /> Mr. Dobbs commented that he understands the land value is an estimate but there is no estimate <br /> for the potential return on investment for the City owning the land if the grant funds will all be <br /> used for that acquisition. He noted that the Bowers Drive portion also reduces the City contribution <br /> and was not included in the original framework. <br /> Councilmember Musgrove commented that she feels that she understands both sides after hearing <br /> input. She asked if there would be time to gain additional outside funds associated with the tree <br /> preservation land. <br /> Deputy City Administrator Gladhill stated that staff has been discussing opportunities with <br /> different outside groups that are providing input to the City. <br /> Councilmember Musgrove stated that it sounds like these issues were perhaps unknowns and they <br /> are now fitting them into the framework. She stated that she would like to stick to the original <br /> framework to the extent possible and encouraged staff to continue to look for funding with the <br /> option of perhaps using the County HRA funds as well. <br /> Deputy City Administrator Gladhill stated that if the road wants to be built, it has been the input <br /> from the County that the City would need to purchase that parcel. He noted that staff continues to <br /> have discussions with the County to investigate options that would not include purchase of the <br /> parcel. <br /> Councilmember Musgrove stated that it appears there is still time to move forward with the original <br /> framework split and continue to look for funds to use for tree preservation and the County portion. <br /> She stated that the consensus throughout this discussion has included the preserved trees and the <br /> developer presented that plan. <br /> Deputy City Administrator Gladhill noted that staff is attempting to stay close to the original <br /> framework and provided details. <br /> Councilmember Musgrove asked if a cul-de-sac is needed at the end of Bowers Drive. <br /> Public Works Committee 1 January 19,2021 <br /> Page 5 of 14 <br />