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Mr. Rompola replied, The basis for using TIF for any redevelopment or economic area is that the use of the increment has to be for an improvement that is either located in, or that supports and benefits the particular area. So we look at those two (2) Parks in particular and the influence those parks have on the Riverwest Area, and we concluded that the use of those funds will benefit the Riverwest Area, even though the improvements are just outside the area. This is not an uncommon practice. Councilmember Dr. David Varner asked, The maximum is $12.2 million? Mr. Eckerle replied, Yes,that is correct. Councilmember Dr. Varner followed up, Are you going to coincide the term of the bond with the expected end date with portions of the TIF or is it going to exceed that? Mr. Eckerle replied, It will go beyond 2025. The structure of the debt payments will match up with the loss of revenues as chucks of the area expire, and we accounted for that in our estimates. We anticipate around$1 million in debt payments per year,through 2032. Mr. Perri stated, This is one (1) of the most significant investments we will ever make in our public shared spaces and we are proud of the work that went into it. Councilmember Broden asked, Was this included in the Parks Board and Redevelopment Commission presentations? Mr. Perri replied, Yes, this has also been included at the Parks Board level. All of this information is available on the website as well. Councilmember Oliver Davis asked, If a park has not been included in this proposal, what happens to that park? Mr. Perri replied, Everything in here is the work that needs financing that we don't already have secured. Walker Field is already financed for and secured. The other parks will continue to be maintained and worked on. There will be some parks that will not be impacted by this. They will still be in our maintenance process but, as of now, there are no planned capital improvements for a few parks. This addresses all the major capital needs identified in the 2014 Master Plan document. In 2018,we will start to look at refreshing that document and certainly attempt to bring continued and additional investment. Committee Chair White then opened the floor to members of the public wishing to speak in favor of or in opposition to the legislation. There were none. She then turned the floor back to the Committee for further comment or main motions. Committeemember Gavin Ferlic made a motion to send Bill No. 17-72 to the full Council with a favorable recommendation. Committeemember John Voorde seconded the motion which carried unanimously by a voice vote of four(4) ayes. 3