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Item No. 4 (continued) Discussion continued and Mr. Levin and Mr. Smith commented and replied to questions concerning use of assessment district financing by other cities; the competition of Lincoln Properties in the area; the kind of income which might come to the City; the fact that the project is under way and will develop without the assessment district; whether there is any limit on the type of bonds proposed to be issued; redevelopment projects in the City; whether an attractive development of the type planned might not attract other such developers to the City; and whether the developer might be willing to offer a contribution to the City. Richard Hulme, Lincoln Property Company, asked Mr. Assaf to comment on the work required of the City after the district is in place. Mr. Assaf said that the assessments are collected on the tax roll and go to the City which gets the money to the bank which then mails out checks, noting that the cost for handling is included in the assessment district. Mr. Assaf said that the Engineer's statements (4 b ) is not ready and should be considered later. Title read. M /S: Claire /Stangel a. A RESOLUTION NO. 9807 DETERMINING TO UNDERTAKE PROCEEDINGS PURSUANT TO SPECIAL ASSESSMENT AND ASSESSMENT BOND ACTS FOR THE ACQUISITION AND /OR CONSTRUCTION OF IMPROVEMENTS WITHOUT PROCEEDINGS UNDER DIVISION 4 OF THE STREETS AND HIGHWAYS CODE OF THE STATE OF CALIFORNIA c. A RESOLUTION NO. 9808 APPOINTING ATTORNEYS adopted on the following roll call vote Ayes: Councilmen Bury, Chandler, Claire, Rhodes, Stangel and Vice Mayor Ma rq u ez -Mo sh er Noes: Mayor Britschgi Mr. Assaf said that at the time of considering the Engineer's services an amount can be included for administrative costs for the City. M /S: Claire /Rhodes that as a policy decision, the Council will encourage assessment district bond financing within the Redevelopment District only. The motion failed on the following roll call vote: Ayes: Councilmen Claire, Rhodes Noes: Councilmen Bury, Chandler, Mosher, Stangel and Mayor Britschgi Mayor Britschgi requested that staff contact other cities to learn what they are doing with regard to setting criteria for the establishment of assessment districts, noting that Mr. Assaf had mentioned a committee for that purpose in the City of Novato. MEMO 3/1/85 ---------------------------------------------------------------------------- - - - - -- Reg. Min. 2/25/85 Page 5 MINUTE BOOK NO. 45 Page No. 279