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<br />Community Development Director Trudgeon explained the streetscape and stormwater are the <br />only items in default in relation to ,the summary judgment. <br /> <br />Councilmember Look requested clarification that the TIF will be a 20 year district. <br /> <br />Mr. Lasher replied the TIF will be 15 years; the 429 assessment guarantee will be 20 years. <br /> <br />Councilmember Look noted the TIF District will go until 2026 or 2027. He questioned if there is <br />still an estimate of24,000 new trips to this area daily with the project being downsized. <br /> <br />Mr. Lasher replied no. The environmental work done would be amended with this new site plan, <br />and with the reduction in size the estimated trip total will be reduced by about 5,000 to 6,000 <br />trips per day. <br /> <br />Councilmember Look inquired about the infrastructure wear and tear with approximately 20,000 <br />new trips to this area daily. <br /> <br />Mr. Lasher indicated the spread sheet shows the calculation conducted by Public Works Director <br />Olson of approximately $2.8 million for off-site improvements necessary to make this project <br />happen. TIF funds would be allocated to these costs. <br /> <br />Councilmember Look expressed concern that the TIF funds would be expended by 2020 with <br />major wear and tear to address. <br /> <br />Mayor Gamec indicated the County would assess repairs through MSA funds; City roads would <br />likely be improved through assessments following the current assessment policy. <br /> <br />Mr. Lasher advised the Uses and Sources statement as outlined does not preclude future roadway <br />improvements and assessments. <br /> <br />Councilmember Look stressed his concern with businesses or residences being assessed for a <br />project that does not hit dollar one in the general fund until 2027. <br /> <br />Mr. Lasher explained any assessment on these parcels for new improvements or for updated <br />improvements would be paid at the time they are assessed; they would not be deferred. If there <br />were to be an upgrade on one of the roads in year five of the 15 year TIF district these parcels <br />would be assessed and could not wait until the TIF district is completed to begin the payments. <br />The only money being discussed at this time is the new increment being created from the project, <br />which will pay for capitalized interest and offsite improvements of roadways. Wear and tear <br />would be paid over and above this. <br /> <br />Councilmember Look questioned who would cover the wear and tear costs. <br /> <br />Mr. Lasher replied wear and tear costs would ultimately be assessed to Ramsey crossings or <br />whoever had a benefit from that improvement. <br /> <br />Councilmember Elvig indicated the assessments would be done similar to the City's current <br />Public Works assessments. <br /> <br />City Council Work Session I March 6, 2007 <br />Page 7 ors <br />