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Councilmember Kepple advocated for sidewalks to be kept open during construction. Director <br /> Leininger explained that sidewalks will be closed for the safety of workers and pedestrians and <br /> that an alternative ADA compliant route will be made accessible. <br /> Councilmember Kepple advocated for EV charging stations, a rideshare pickup/drop-off area on <br /> the site, opportunities for refuse, recycling and composting and more trees and eco-friendly <br /> landscaping than potentially indicated in the term sheet. <br /> Director Leininger expressed confidence that the site will offer many opportunities to enhance <br /> the tree canopy and described those opportunities. <br /> Councilmember Baker questioned if future savings on the developer's refinancing could be <br /> refunded to the city. Ms. Nichols discussed how such an arrangement would work but <br /> discouraged the city from doing this, so as not to inhibit the developer from reinvesting into the <br /> property. <br /> Councilmembers expressed interest in maintaining the engagement of the project's advisory <br /> committee and hearing from the advisory committee directly as well as a means to remain <br /> updated on the project. <br /> Public Comment <br /> Heather Rudge— 13926 Clifton—Addressing claims that a limited number of people were <br /> interested in a full rehab of the Curtis Block building, Ms. Rudge presented petitions signed by <br /> over 100 people supporting such that were obtained within the last week. <br /> Ben Hochenhull— 1492 Marlowe—Mr. Hochenhull asked when the city and developer will see a <br /> return on the investment being made at the Lakewood hospital site and what the useful life of the <br /> buildings might be. He surmised on the timeline of construction and noted its compressed nature <br /> due to Roundstone's need for space. CASTO representatives spoke to various developments <br /> they've taken part in with long lifespans. They also stated the importance of Roundstone wanting <br /> to buy their building. Director Leininger added commentary on the rates of various units and <br /> rates of return. He explained the opportunity cost behind TIFFS, and noted a $1.5 million grant <br /> that the city is providing to Roundstone to be paid out over 8 years. He noted that initial <br /> projections show return on investment in year 6, however Roundstone's growth projection <br /> shortens the timeline to see returns prior to year 5. Taking that into account, the payoff on <br /> income tax on the site should occur within 3 years on the $1.5 million grant. Mr. Leininger also <br /> noted that the site had never previously generated property tax. He noted a need to engage the <br /> school system on the TIFF. Tracey Nichols of PMC added context to the TIFF component of the <br /> discussion. Councilmember Shachner gave an overview on the options a city has to close <br /> financing gaps, alluding to TIFFS, general fund contributions,tax abatements, etc. It was <br /> clarified that the city is not taking money out of its general fund and awarding it to the <br /> developers. Mr. Shachner and Ms. Nichols reviewed what would happen in the event the <br /> development agreement was broken, which would allow the city to cancel the TIFF. <br /> Councilmember Bullock sought to address questions posed by members of the public. He noted <br /> the significance of public investment in the project, which tied into his questions about the <br /> 6 <br />