HomeMy WebLinkAbout2000/06/26 - ADMIN - Minutes - City Council - Study Session ST.CITY LOUIOF S OFFICIAL MINUTES
PARK CITY COUNCIL STUDY SESSION
Meeting of June 26,2000
The meeting convened at 7.00 p.m.
Present at the meeting were Councilmembers Jim Bnmeyer, Ron Latz, Sue Santa, Robert Young,
and Mayor Jeff Jacobs.
Staff present: City Manager(Mr. Meyer), Director of Community Development (Mr.
Harmening),Economic Development Coordinator(Mr. Kleve), Planning and Zoning Supervisor
(Ms Jeremiah), Civic Cable Television Coordinator(Mr McHugh), and City Clerk (Ms. Larsen).
1. Time Warner demonstration of Roadrunner high speed Internet access
Time Warner gave a demonstration of their new services such as Roadrunner Internet Access and
Digital television. Council asked several questions about the cost of set-up and other services
provided. They also had concerns with remote access to e-mail, browsers, home/start pages, and
the expected technological limitations.
2. Park Commons Update
Staff updated Council on the steps that had been taken until this point. Reviewed were the
cntena used to select the developer, the members of the interview panel, and the second
interview with TOLD. Staff recommended TOLD as the Master Developer for the Park
Commons project.They asked for feedback on that recommendation and the proposed Developer
Commitment and Schedule requirements.
Briefly discussed was the issue of equity stake and the contractual relationships between TOLD
and Great Lakes Management.
Staff presented the draft Developer Commitment and Schedule Requirements and reviewed the
proposed timeline. The General Business Terms of the Preliminary Development Agreement
with TOLD were passed out as well.
Staff reported that several retailers were interested in opening in 2002.
Councilmember Bnmeyer questioned the provisions regarding the letters of credit and asked
about the financial solvency of TOLD. Ms. Jeremiah replied that the terms were acceptable to
the City's financial advisors. She then stated that Mark Ruff of Ehler's & Associates had
recommended TOLD and felt they were a good business to work with, recalling previous work
with them in the past.
Council discussed the numerous relationships involved in the project such as construction
managers, architects, retailers, and leasing agents. Council expressed their concern over the lack
of residential development expenence. Staff replied that TOLD has indicated that they will be
bringing in a residential developer on staff to complete the team.
Mr. Harmening gave an update on the acquisition of several properties needed for the Park
Commons development.
Study Session Minutes -2- . June 26, 2000
Mr. Bob Cunningham and Mr. Gary Dreher, Vice Presidents of Development for TOLD, were
present at the meeting. Mayor Jacobs asked them to explain their philosophy on the residential
development component of the project. They explained their relationship with Great Lakes
Management, stating that they will be using Great Lakes as a consultant for housing, leasing, and
management for the residential portion of the development. Councilmember Latz expressed his
concern about the planning phase of the residential component. They responded that they are
enthusiastic and energized about the prospect of being involved in this type of project.
Mr. Meyer asked for the opinion that TOLD had on the financial feasibility of the project. They
responded that the figures were currently being reviewed.
Mr. Harmemng stated that staff had several concerns regarding the figures that had been used
with the last developer and indicated that TOLD would need to supply the financial figures very
soon. Mr. Cunningham and Mr. Dreher explained the structure of the proposed partnership and
offered to share financial information with the City for review.
Mr. Meyer asked about publicity of the project. They replied that they felt the City and TOLD
should be in agreement and up to date with another. They stated that they would follow the
City's lead.
Mr. Harmemng asked if the firm could meet the deadlines and give the attention that the project
demanded. They responded that they were enthusiastic about the project and felt the
development will be `tomorrow's news'.
Mr. Harmemng stated that staff would come back with a preliminary development agreement at
the next regular meeting.
3. Communications
Staff and Council discussed the status of the current development projects and the new summary
sheet that was produced by the Community Development Department.
4. Adjournment
The meeting was adjourned at 9:45 p.m.
Ci Clerk Mayo /