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Senior Housing Project-Financial Package and City Control <br /> February 16, 2001 <br /> Page 2 <br /> annual payments for the land. If the City buys the land, the land payments are <br /> eliminated from the developer's cash flow but so are the TIF payments. This has a <br /> negative impact on the developer's cash flow. Rusty Fifield is working with Mr. <br /> Dunbar to prepare cash flow information that shows the extent of the negative <br /> impact. <br /> 2. Mr. Dunbar also indicated,in his experience working out the details of the financial <br /> package and lease arrangement is very time-consuming and expensive, as opposed <br /> to the basic TIF package which is very straightforward. <br /> Rusty Fifield and I will be discussing the pros and cons of these two main options with the City's <br /> bond attorney,who has considerable experience regarding these issues,prior to the February 22 work <br /> session. <br />