Res 1985-024 - Laserfiche WebLink

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5. The solution should give some a~vantage to tho~e who have already been designated on the priority list; 6. The solution should help to build confidence within the development community that adequate capacity is available so that pressures for speculation of the reservations can be reduced; and 7. Some special provision needs to be developed to provide capacity for future industrial projects. Realizing some of these factors may actually be in conflict, each solution developed at the meeting sought to strike a balance between those factors. The options are listed below (in no particular order) with a brief description. All options are presented as possible solutions for allocationg %~R~ining capacity unless otherwise stated. OPTION I: Original System. Allocate as per priority list (Letter of Credit; etc.): Advantages - rules already defined, less confusion, provides greatest certainty that capacity is available when you are ready to develop. Disadvantages - does not address principal proble@ of encouraging those who are ready to develop to do so, has created speculative market (grey market). OPTION II: Create white market. Allow the first 2øaø LUE's to be sold by Holder's will to anyone (possibly thru the City). Allocate remaining capacity as originally designed but alloí~ these Holders to also sell reservations. Advantages - allows market place to determine price and allocation, less bureaucracy. Disadvantages - creates closed market for "lucky ones", adds additional non-value added cost to development to pay for speculation expenses. OPTION III: Eliminate priority list. city grant allocations based on developed groi~th policy. Advantages - maximum control by City to determine growth patterns. Disadvantages - difficult to find equity, City might have to front financing. OPTION IV: Eliminate priority list. City fronts package plant projects first come first serve basis. Advantages - eliminates much of the bureaucracy, equally fair. Disadvantages - City fronts financing, priority list eliminated. OPTION V: Overbook. City allocates as in original plan, but allocates more than capacity realizing not everyone will actually be able to develop by August 1986. Advantages - probably safe bet, overbooking could help generate cash for next plant improvement. Disadvantages - what happens if demand does materialize rapidly, may present serious legal problems if City is caught short. OPTION VI: Tier System. Create a series of tiers of priority using priority list but based on status of project development. Each level would include definite criteria (e.g. plat approval, building per@it submitted, proper zoning obtained, Haster Plan