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City Council Minutes <br />August 4, 2009 <br />Page 3 of 8 <br />5. Presentations <br />5.1. Conceptual Support for Establishment of a TIF Redevelopment District for <br />Proposed Oppidan Pronect <br />Pat Barrett introduced himself as a representative of Oppidan (a real <br />estate developer). Mr. Barrett noted that the dollars from this project are <br />not dollars that exist today. He stated that TIF money is not being applied <br />to project costs such as brick and mortar; the TIF money will be used for <br />public improvements, access roads that allow public to come from <br />downtown without autos. Mr. Barrett indicated that they have worked to <br />date to provide a project that meets city requirements. A key component <br />with this project is what it does for the downtown community. He further <br />noted that this project will define the downtown area as the future <br />economic development corridor. He stated that the project will provide a <br />benefit to the City and will spur future economic growth to the south and <br />north of the site. Mr. Barrett showed the Council pictures of elevations and <br />building accents. <br />Sheila Haverkamp, BLADC, gave a presentation on the proposal for a <br />redevelopment tax increment financing from Oppidan for a new retail <br />structure. Sheila noted that this is a redevelopment tax increment and the <br />"but for" clause will be looked at from a financial perspective. She also <br />noted that redevelopment findings will be reviewed by an outside firm. <br />Sheila explained that information on the project is provided to the Council <br />this evening so that developers can get a sense as to whether the City is <br />agreeable to considering tax increment financing. She explained that the <br />developer is required to escrow funds to cover all TIF associated costs. <br />COUNCIL MEMBER MALECHA MOVED TO CONCEPTUALLY <br />SUPPORT THE ESTABLISHMENT OF A TIF REDEVELOPMENT <br />DISTRICT AS PROPOSED BY OPPIDAN. MAYOR ADAMS SECONDED <br />THE MOTION. <br />Council Member Ryan stated that he has been a supporter of TIF in the <br />past. He stated that he sees many challenges with this proposal. He noted <br />that the developer is asking for a significant amount of money. He noted <br />that the impact on existing community is significant; two liquor stores, two <br />gas stations; two pharmacies, three banks, and a grocery store. He <br />indicated he would rather see this project stand on its own. Council <br />Member Ryan noted that he sees problems with expenses related to this <br />request in regard to the road plan and the private sewer line. He noted <br />