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Revitalization Commission <br />Minutes <br />DATE <br />Page 2of 3 <br />Reports of the Commission <br />– <br />Business Matters of the Commission <br />– <br />a.Recap HPC/LRC Meeting. Members expressed satisfaction with the <br />joint meeting, which gave each group a better understanding of each <br />other. Agreed it wasworthwhile. HPC realized our financial abilities. <br />Discussed liaison potential;Sam went over legal ramifications in terms <br />of contact between HPC & LRC members. Karl asked that Carlos and <br />Alex get together and brainstorm how to move forward with HPC. <br />b.TIF Analysis. Aaron presentedthe TIF analysis found in the packet. <br />Discussion followed about when and how oftento update members, <br />that this was a “living-breathing” document.Sam went over the <br />example of schools, fire districts and other entities and discussed how <br />State contributions can backfill TIF contributions. <br />DELO presented on funding and TIF. Three components: improve <br />Cannon St., the underpass and parking facilities. Michael started a <br />dialogue on how the process works in terms of logistics, interaction w/ <br />Council, City, developer, etc. DELO wants agreement on <br />compensation for developer’scapital improvements sooner rather than <br />later, e.g., Cannon St. <br />Steve Fisher stated that Aaron’s analysis is solid, and the assumptions <br />are probably conservative. The City/LRC should have a good <br />application for screening applicants since there will be a lot of interest <br />in the money being made available. <br />c.IGA for Underpass. Rob recommended agreement should allow for <br />pre-payment w/o penalty. Troy talked about the schedule by the RR <br />and PUC; it is at their timing if we want their funding. Michael stated <br />he hoped the completion date could be accelerated from December <br />2015, and asked about offering a cash bonus for early completion, and <br />why the stormwater fund is capped. <br />Carlos asked if we can go with design/build to save time. Justin would <br />like to see a flow chart of the project. Troy noted there are other things <br />beyond our control, e.g., Street Faire. Carlos asked DELO what else <br />can be done to spark DELO if the Underpass doesn’t happen until Dec. <br />2015. Rick repliedit should not be delayed more than a year, and we <br />should help people get across the tracks safely. <br /> <br />