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Item 4BCity of Southlake, Texas August 10, 2005 TO: Honorable Mayor and Members of City Council FROM: Shana K. Yelverton, City Manager SUBJECT: Agenda Item Comments and Other Items of Interest for City Council Meeting August 16, 2005 Note that your packet also contains the packet information (hard copy only) for the TIRZ Board meeting which begins at 4:30p.m. Recall that the work session will begin at 5:00 p.m. to allow time for presentations on the DPS management study and the strategic plan 4B. City Manager's Report No report is planned at this time. 4C. Financial Report A copy of the financial report is included in your packet. Staff is prepared to do a presentation upon your request. Contact Sharen with questions on this item. 4D. SPIN Board Report. SPIN Neighborhood 913 Representative Mike Terry will be present at the meeting to give a report. 5A. Approve the minutes for the August 2, 2005, regular City Council meeting_ Contact Lori Farwell with questions on the minutes. 5B. Resolution No. 05 -042_ aporoval of a vision_ mission statement_ and strategic focus areas developed at the City Council's Strategic Planning Workshop On June 16 -17, City Council and staff completed the city's first strategic planning workshop. The planning session, facilitated by a consultant from MAXIMUS, Inc., resulted in the articulation of several key elements of a long range strategic framework for the city. These included: • consensus statement of the future vision of the City of Southlake; • mission statement to guide the operations of city government; • core values to establish the ethical constructs within which city business should be conducted; and Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 2 of 16 • strategic focus areas around which key policy decisions can be evaluated and important organizational and operational activities can be managed. The report, documenting the process and results, will be formally presented by David Eisenlohr with MAXIMUS, Inc. at the meeting. Council is asked to formally adopt the elements of the report. Included in your packet is a hard copy of the final report. Contact me if you have any questions on this item. 5C. Approve the 2004 Comprehensive Annual Financial Report. City Charter requires the City to have an independent audit performed by a certified public accountant at the close of each fiscal year. Weaver and Tidwell L.L.P., Certified Public Accountants, performed the audit for fiscal year 2004. The audit was not finalized for distribution by the close of business on Wednesday; however, a copy will be provided on Thursday, August 11. Shawn Parker, Partner, will present the audit report on Tuesday night. The auditor issued what is called a "clean opinion," which means that we are doing well overall. You will note that they have made six recommendations in the management letter. Our responses are included as well. Historically, the audit is presented earlier in the year but due to staff time with the investigation and shortage of staff in the finance department the audit was not completed until July. Contact Sharen Elam with questions on this item. 5D. Resolution No. 05 -039, requesting the construction of FM 1938 from FM 1709 to the city limits be included as a project in the Tarrant County transportation bond program. The Tarrant County Commissioners Court is proposing a transportation bond program designed to meet critical infrastructure needs across the area through the shared financing of strategically significant transportation projects. The bond program could include up to $200 million for transportation projects throughout the county. If the Tarrant County Transportation Bond Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 3 of 16 Program is endorsed by voters in May 2006, the City of Southlake may be eligible to receive up to a 50 percent dollar match towards the cost of any project that is included in the bond package. Based on the program criteria provided by Tarrant County, city staff has already recommended that two projects be submitted to the County for consideration. These projects are the White Chapel Blvd. (Emerald Rd. to Highland St.) widening and trail system and the construction of the Pearson Ln. /FM 1709 intersection. City Council passed resolutions at its August 2, 2005 meeting in support of these projects. In addition to the projects above, city staff is recommending that the construction of FM 1938 (Phase II) from FM 1709 to the city limits (north) be submitted to the County for consideration. The estimated project cost for the FM 1938 project in Southlake is approximately $8 million. The project has not been funded at this time; however, it is anticipated that a NCTCOG joint - venture call for projects will occur either in the fall of 2005 or the spring of 2006 and the city will submit this project for funding. If the FM 1938 project is included as part of the County bond package, the North Central Texas Council of Government will be the funding source responsible for the 50% local matching dollars. Contact Ken Baker with questions on this item. 5E. Resolution No. 05 -043 expressing support of the City Council of the City of Southlake for the Dallas/Fort Worth International Airport. This item has been added to the agenda at the request of Mayor Wambsganss and Councilmember John Terrell. Contact them with questions on this item. 5F. Approve purchase of two (2) pumps for the Lonesome Dove and Shady Lane Lift stations During the design of the Lonesome Dove and Shady Lane lift stations, the expansion of each lift station to full capacity was planned in three (3) phases. Phase I and Phase 11 have been completed in the past by installation of two pumps in each lift station. Phase III expansion requires the installation of an 1,860 gallon per minute (gpm) capacity pump in the Shady Lane pump station and a 2,150 gpm capacity pump in the Lonesome Dove lift station. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 4 of 16 Since the pump housings were constructed to accommodate Fairbanks Morse pumps which is a single source vendor, no bidding was required. The cost of these pumps is $28,740 and $29,850 for the Shady Oaks and the Lonesome Dove pump stations respectively, for a total of $58,590. Contact Pedram Farahnak with questions on this item. 5G. Consider excusing members of the City Council and of the Planning and Zoning Commission for absences from meetings Mayor Pro Tern Keith Shankland was absent from the August 2, 2005, City Council meeting. Planning and Zoning Commissioner Brandon Bledsoe was absent from the August 4, 2005 Planning and Commission meeting. 7A. Ordinance No. 480 -424a, 2nd Reading (ZA05 -012), Zoning Change and Site Plan for White Chapel Plaza Office Park; located at 1310 North White Chapel Boulevard. Current Zoning: S- P-1 Detailed Site Plan District with 0-1 Office District uses. Requested Zoning: S -P -1 Detailed Site Plan District with 0-1 Office District uses. SPIN Neighborhood #11. PUBLIC HEARING The purpose of this request is to modify the "S -P -1" development regulations to allow subdivision of each building pad site into individual lots for sale. All improvements exist. The "S -P -1" zoning generally adheres to the current "S -P -1" district zoning with the following modifications: • the setbacks along the perimeter boundary shall be as shown on the Site Plan; • the maximum impervious coverage shall not exceed 65.1% of the total lot area; however, individual lots shall not exceed 76.5 %; • setbacks between Lots 13R1 & 13R2 and between Lots 13R4 & 13R5 shall be 10 feet; • setbacks between Lots 13R2 & 13R3 and between Lots 13R3 & 13R4 shall be 4.26 feet; • bufferyards along interior lot lines shall not be required; and • parking required for the site shall be 94 spaces. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 5 of 16 A variance to the minimum right -of -way width is being requested. The required street right -of- way width for a commercial development is sixty (60) feet. The applicant is proposing a private street and is requesting a right -of -way width of twenty -four (24) feet. The Planning and Zoning Commission recommended approval (6 -0) on July 21, 2005 subject to Site Plan Review Summary No. 3, dated July 15, 2005, with the following stipulations: • granting a variance for right -of -way width; • recognizing the owner's association is to be established to address street & trash enclosure maintenance, cross access, and reciprocal parking; and • subject to tree mitigation for trees removed that were shown/committed to be preserved in the original plan and in accordance with the Tree Preservation Ordinance. Staff visited the site and has confirmed that all trees subject to mitigation have been properly mitigated by payment of fees to the City's reforestation fund. Please note that both the zoning and site plan stipulates that the required number of canopy trees for the bufferyard along N. White Chapel be doubled. Staff will insure that the landscaping is properly installed and that any other tree mitigation issues are remedied prior to final inspection. The City Council approved the first reading (6 -0) on August 2, 2005 subject to Revised Site Plan Summary No. 3, dated July 15, 2005 and the recommendations of the Planning and Zoning Commission with the following amendments: • allowing the applicant to replace the required eight foot masonry fence along the south property line with a two foot rock wall topped with a four foot wrought iron fence and with seven foot tall stone columns placed every 30 feet; and • and providing a landscape plan with types of plantings prior to the second reading. Pages 5 through 7 of Attachment C in the staff report contain a description and plan addressing the first reading approval conditions for screening. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 6 of 16 Contact Ken Baker or Dennis Killough with questions on this item. 7B. ZA05 -013, Plat Revision for Lots 13R1 through 13R5, T.M. Hood No. 706 Addition, being a revision of Lot 13, T.M. Hood No. 706 Addition. The property is located at 1310 North White Chapel Boulevard. Current Zoning: S -P -1 Detailed Site Plan District with 0-1 uses. Proposed Zoning: S -P -1 Detailed Site Plan District with 0-1 Office District uses. SPIN Neighborhood 911. This is the plat revision associated with the previous agenda item. The purpose of this request is to allow subdivision of the lot for each building pad site to be on an individual lot for sale. A variance to the minimum right -of -way width is being requested. The required street right -of- way width for a commercial development is sixty feet. The applicant is proposing a private street and is requesting a right -of -way width of twenty -four (24) feet. The Planning and Zoning Commission recommended approval (6 -0) subject to Plat Review Summary No. 3 dated July 15, subject to the conditions of the zoning approval, and granting the right -of -way width variance. Contact Ken Baker or Dennis Killough with questions on this item. 7C. Consider placing a proposal to adopt a tax rate increase and hold a public hearing on the tax rate on the agenda of the Sebtember 6. 2005 regular Citv Council meeting. PUBLIC HEARING The proposed tax rate of $.462 (our current rate) will exceed the lower of the rollback rate ($.503646) or the effective tax rate ($.459016) and increase tax revenues. Even though the tax rate is held at $.462, the tax rate exceeds the effective tax rate $.459016. Because the tax rate exceeds the lowest rate, the law requires that the city council must vote to place a proposal to adopt the rate increase on the agenda of a future meeting as an action item and hold a public hearing on the proposal. Contact Sharen Elam with questions on this item Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 7 of 16 8A. Ordinance No. 480 -451, I st Reading (ZA04 -101), Zoning Change for Tracts IAIA2 and lAIA2D, B.J. Foster Survey, Abstract No. 519. The property is located on the north side of Gifford Court, approximately 300 feet east of Randol Mill Avenue. Current Zoning: AG Agricultural District. Requested Zoning: SF-IA Single Family Residential District. SPIN Neighborhood 412. This item is requested to be tabled until the September 20, 2005 City Council meeting. Contact Ken Baker or Dennis Killough with questions on this item. 8B. Ordinance No. 480 -464, l Reading_(ZA05 -050), Zoning Change and Site Plan for Baylor Family Health Center at Southlake, located on the south side of East Southlake Boulevard, approximately 550 feet east of Byron Nelson Parkway. Current Zoning: 0-1 Office District. Requested Zoning: S -P -1 Detailed Site Plan with limited 0-1 Office District uses. SPIN Neighborhood 49E. The plan proposes the development of a medical office building of approximately 40,000 square feet. The "S -P -1" zoning generally adheres to the "O -1" Office District uses and regulations with the following exceptions: • The permitted office uses shall include: Chiropractors; Dentists; Optometrists; Other offices of a business and /or professional nature providing medical services not including the retail sale, fabrication, manufacture or production of goods or merchandise; Physicians; Podiatrists; Psychiatrists; Psychologists; and Physical Therapist Offices. • The permitted Community Facility Uses shall include: Public, semi- public and private parks; and Recreation and open space to include playgrounds, parkways, greenbelts, ponds and lakes, botanical gardens, pedestrian paths, bicycle paths, equestrian bridal trails, nature center, and bird and wildlife sanctuaries. • Incidental use such as Pharmacy must be incidental to the principal use and shall not occupy more than 15% of the floor area of the building. • The required parking shall be at a ratio of 1 space per 200 square feet of building area. The following variance is being requested: Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 8 of 16 • Driveway Stacking — A minimum stacking depth of 100 feet is required. The applicant is proposing a stacking depth of ±53 feet for the east drive and a stacking depth of ±65 feet for the west drive on Zena Rucker Road. The Planning and Zoning Commission recommend approval (6 -0) on August 4, 2005 subject to Site Plan Review Summary No. 3, dated July 29, 2005 with the following modifications: • granting the requested stacking variance for the drives on Zena Rucker Road, noting however, that there is no on- street parking allowed on Zena Rucker Road; • requiring the applicant to retain the natural vegetation along the creek that is on the property as much as possible as the on -site creek is identified as a preservation area on Southlake's environmental resource protection map; • requiring the applicant to have a plan showing specifically which trees they will be preserving by their presentation to City Council; • requiring the applicant to work with staff to modify their exterior elevations to include stone and /or stone accents to compliment the adjacent Timarron Family Medical building and also the Village at Timarron buildings; and • the applicant should clearly provide City Council with the type of roofing material and color they will be using. Contact Ken Baker or Dennis Killough with questions on this item. 8C. Ordinance No. 480 -465, 1 St Reading (ZA05 -062), Zoning Change and Site Plan for Noble Oaks Offices (f.k.a. Offices at Carroll Oaks) located at 1550 South Carroll Avenue. Current Zoning_ SF -20A Single Family Residential District. Requested Zoning: S -P -1 Detailed Site Plan District with O -1 Office District uses. SPIN Neighborhood #8. The plan proposes the development of a two -story general office building of approximately 14,626 square feet. The "S -P -1" zoning generally adheres to the "O -1" Office District uses and regulations with the following exceptions: • walk -up banking only shall be permitted (drive -thru banking is not permitted); • all medical uses that would require one space per 150 square feet are eliminated due to parking ratio; and Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 9 of 16 • the setback line from single family residential property shall be eighty (80) feet and the building height shall be allowed to encroach above the 4:1 slope by 12 feet at this point. The following variances are being requested: • Driveway Stacking — A minimum stacking depth of 28 feet is required. The applicant is proposing a stacking depth of ±22 feet for the drive on S. Carroll Avenue. • Driveway Spacing — A minimum distance of 200 feet is required from an intersection. The applicant is proposing ±183' spacing from the intersection for both proposed drives. Parking — The required number of parking spaces for the site is 53 spaces. The applicant is proposing a total of 49 spaces. The Planning and Zoning Commission recommended approval (5 -0 -1) (Coonan abstained) subject to Site Plan Review Summary No. 3, dated July 15, 2005, and specifically: • granting the variances for stacking, number of parking spaces, and driveway spacing as requested; • accepting the applicant's willingness to make as part of the site plan approval the addition of a number of speed bumps in the main interior drive lane sufficient to slow traffic; • accepting the perimeter fence shown in attachment C, pages 3 and 4; • eliminating printing /copying services, medical office, and conventional banks as permissible uses; • recognizing that a slate roof will be made of a slate product and the building will have brick veneers, stone, and cedar as shown on the building elevations; • requiring the applicant to put opaque covers on windows at a later date if the issue of office tenants looking out at adjoining neighbors is determined to be a problem; • recognizing that the applicant has committed to add four (4) twelve (12) foot live oak trees along the north and east property lines; • recognizing that the applicant is in the process of entering into agreements with the adjoining neighbors regarding the planting of canopy and /or under story trees on their properties according to their individual agreements. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 10 of 16 • recommending that a left turn lane be striped on east bound Continental Blvd. adjacent to the offices; and • requiring the applicant to install a six (6) foot sidewalk along E. Continental Blvd. and S. Carroll Avenue as shown on the plan. Property owner opposition is in excess of 20% of the surrounding 200 foot area. A super- majority (6 of 7 City Council members) is needed to approve this item. Contact Ken Baker or Dennis Killough with questions on this item. 8D. Ordinance No. 480 -442a, 1 st Reading (ZA05 -072), Zoning Change and Site Plan for West Hill Place (f.k.a. Westwood Office Park) located at 3100 West Southlake Boulevard. Current Zoning: S -P -1 Detailed Site Plan District with 0-1 Office District uses. Requested Zoning: SP- 1 Detailed Site Plan District with 0-1 Office District uses. SPIN Neighborhood #15. Construction of this site is near completion. The purpose of this application is to amend the currently approved zoning and site plan to add screening walls for ground mounted HVAC units, change the color of the privacy fencing on the north side of the property, and to add covered parking on the site. The Planning and Zoning Commission recommended approval (6 -0) on August 4, 2005 subject to Site Plan Review Summary No. 1, dated July 1, 2005, with the following changes: • accepting the applicant's willingness to cover the six (6) inch pipe columns shown in the covered parking elevation with cedar on each side; and • recognizing that approval of this item tonight does not approve any signage. Contact Ken Baker or Dennis Killough with questions on this item. 8E. Ordinance No. 480 -BBB, 1 st Reading, An amendment to the Comprehensive Zoning Ordinance No. 480, as amended, as it pertains to the creation of the Transition District This proposed zoning ordinance amendment implements the transition 1 and 2 land use categories of the consolidated future land use plan, an element of the Southlake 2025 Plan. The transition Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 11 of 16 district (TD) (proposed Section 47) is intended to facilitate the development of flexible mixed - use districts with a distinct sense of place while protecting critical environmental resources on the site. This amendment also re- numbers Sections 47 through 54 to Sections 55 through 62 of the Zoning Ordinance to accommodate future expansion. Contact Ken Baker with questions on this item. 8F. Ordinance No. 480 -CCC, 1 st Reading, An amendment to the Comprehensive Zoning Ordinance No. 480, as amended, as it pertains to the creation of the Rural Conservation Subdivision District. This proposed zoning ordinance amendment implements the rural conservation subdivision land use category of the consolidated future land use plan, an element of the Southlake 2025 Plan. The rural conservation subdivision (RCS) district is intended to facilitate the development of conservation subdivisions that protect the city's remaining ranching /agricultural and environmental areas. Contact Ken Baker with questions on this item. 10A. Approve renewal of contract with Aetna for employee medical and dental benefits For Plan Year 2006, Aetna has proposed a rate increase of 8.8% for medical benefits and 5.0% for dental benefits. By working through our broker, we were able to reduce the initial rate increase proposal for medical benefits from 16.0% to 11 %, and finally to an 8.8% rate increase. This agenda item does not address the cost sharing of premiums between the City and employees, only the renewal rates as proposed by Aetna. The proposed renewal is within the budget amounts proposed for the FY 2005 -2006 budget. Staff is prepared to discuss proposed employer - employee contributions with Council during the budget work session scheduled for later this month. Of significant note also, is that the rate increase of 8.8% includes 2.4% for state - mandated premium taxes. In the past, the carrier did not include these taxes, however, recent audits by the state have forced them to include these taxes in the rate calculations. Under the Texas Insurance Code, municipalities may be exempt from the taxes if the provision of health insurance is done Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 12 of 16 through a non - profit trust. The City Attorney is reviewing the feasibility of this option, and Aetna has committed to removing the premium taxes if we can comply with the provisions of the Insurance Code. Although medical insurance costs have continued to rise, the proposed increase is the smallest rate increase in at least the past five years. Although we do not formally bid our insurance each year, we do review the market trends and other carriers' plans each year in determining whether to accept or reject a rate renewal. We balance the necessity of obtaining the lowest possible cost for insurance — through bidding if necessary, with the disruption to our employees and their dependents of changing carriers on a frequent basis. If this contract is renewed as staff recommends, it will be the third year Aetna has provided medical insurance benefits without a formal bid process. We intend to bid all of our insurance products, including medical benefits, in summer 2006. Over the past year, staff has been exploring a number of initiatives in efforts to contain health insurance costs. These include: • Participation in a consortium arrangement for insurance. There are at least three "consortiums" in various stages that staff is aware of and has been in varying degrees of discussion and research regarding. • Review of the current plan with employees. Staff conducted a survey of employees in late 2004, and followed up with employee focus groups in spring 2005 to determine employee concerns with the current plan, as well as seek employee input on cost sharing, plan components, and alternative health plans. Among the results of the focus group discussions, we found that employees are generally satisfied with Aetna and the structure of the current plan benefits. • Review of alternative health plans. Rising insurance costs have resulted in new and innovative plan designs, including development of a new type of plan called a Consumer Drive Health Plan (CDHP). These plans are typically high- deductible plans, combined with a Health Savings Account (HSA). Staff intends to review this alternative and others in a comprehensive review and request for bids in 2006. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 13 of 16 Staff recommends approval of a 12 -month contract renewal with Aetna for medical and dental benefits. Contact Kevin Hugman with any questions on this item. lOB. Approve renewal of contract with Jefferson Pilot for employee Long Term Disability benefits. Jefferson Pilot provides insurance coverage for employee long -term disability benefits. Jefferson Pilot has provided this coverage since 2002, with no rate increases over the past three years. They have again proposed coverage for Plan Year 2006 with no rate increase. The City pays the premium for this coverage, which is charged based on employee payroll, and is estimated at $28,800 annually. The cost is within the proposed FY 2005 -2006 budget amounts. Contact Kevin Hugman with any questions on this item. 10C. Consider request for funding for Liberty Garden Phase II to include SPDC Matching Funds and other funding sources Phase I of the Liberty Garden was completed in the fall of 2003 under direction of the Liberty Garden committee in cooperation with staff. Last year, the Liberty Garden Committee developed the design and cost estimates for phase II of the project. The proposed project would feature a labyrinth formed from hedgerows and footpaths, with a kid - friendly fountain and benches as the central feature. The estimated cost for the project is $140,070. The Liberty Garden Committee has raised $15,000 in cash donations and seeks the remaining $125,070 from SPDC funding sources. The Liberty Garden Committee requests $15,000 in SPDC matching funds (see attachment included in your packet) to address a portion of the project budget. During the initial presentation, there were several questions regarding the application of the CIP project ranking and budget allocation process, as well as the timing on the presentation of the request. This project was not included as part of the FY2005 -06 upcoming SPDC budget because Liberty Garden was continuing to refine the project. Staff has received no other requests against which this project would compete for funds, nor is any other approved CIP project, or proposed CIP project, being set aside in favor of this project. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 14 of 16 The SPDC has determined that this project should be funded through a combination of matching funds and an allocation from the CIP fiind. In addition, the Liberty Garden Committee has indicated their commitment to continue to seek donations, sponsorships, and discounts throughout the construction process in an effort to reduce project costs. The Parks Board recommended approval (5 -0 -1) at its July 11 meeting. SPDC approved this item at a special SPDC meeting held August 8. Contact Malcolm Jackson or Steve Polasek with questions on this item. lOD. Consider SP05 -188, Variance to Sign Ordinance No. 704 -B for Eyeworks located at 3105 East Southlake Boulevard. This business is located at the southeast corner of East Southlake Blvd. and Bank Street. The specific variance requested is as follows: Sign Reg. Permitted Requested Material 6" masonry around Architectural metal Requirements perimeter of sign on top portion of the structure. sign structure. Contact Ken Baker or Dennis Killough with questions on this item. 10E. Consider SP05 -197, Variance to the conditional sign permit regulations for Gateway Plaza, Phase 2_ for Red Hot & Blue located at 2750 East Southlake Boulevard_ Suite 100. The specific variance requested is as follows: Sign Reg. Permitted Requested Sign Area 45 square feet 88 square feet Contact Ken Baker or Dennis Killough with questions on this item. Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 15 of 16 IOF. Authorize the Mayor to execute a residential Developer's Agreement for Town Square, Brownstones at Town Square, Phase B, a forty -lot residential subdivision, located at the east end of Main Street The construction of public streets, drainage, water and sanitary sewer lines is similar to the other phases of Town Square. You will note in the residential Brownstones Phase B there is no City participation in the cost of constructing the public infrastructure as it was in previous phases of Town Square. To satisfy the park fee, the developer is using credit carried over from previous phases of Town Square. Contact Pedram Farahnak with questions on this item. lOG. Consider Town Square, Grand Avenue Tri -Party Agreement. On March 1, City Council approved Grand Avenue Developer's and Economic Agreements, "Development Agreements" for public improvements within TIF boundaries. Both agreements govern certain aspects of the development of the property and provided for certain conditional periodic payments (performance -based payments) to Cooper & Stebbins. Inland Western Retail Real Estate Trust, Inc. (construction lender) has agreed to make a loan to Cooper & Stebbins to assist in financing the development of the property and construction of the improvements. The loan is secured by, among other things, the Grand Avenue property. The development agreements authorize the City to enter into an agreement (tri- party) with the developer and construction lender to evidence the respective rights and obligations of the parties under the agreements. Contact Share Elam with questions on this item SKY Staff Direct Phone Numbers: Baker, Ken, Director of Planning, 748 -8067 Elam, Sharen, Finance Director, 748 -8042 Farahnak, Pedram, Public Works Director, 748 -8097 Farwell, Lori, City Secretary, 748 -8016 Hugman, Kevin, Director of Human Resources, 748 -8193 Jackson, Malcolm, Director of Community Services, 748 -8018 Last, Greg, Director of Economic Development, 748 -8037 Honorable Mayor and Members of City Council Agenda Item Comments and Other Items of Interest City Council meeting August 16, 2005 Page 16 of 16 Polasek, Steve, Deputy Director of Community Services, 748 -8021 Smith, Rick, Interim Director of DPS, 748 -2406 Thatcher, Ben, Assistant to the City Manager, 748 -8005 Yelverton, Shana, City Manager, 748 -8004