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Second, the Council approved a policy that developers will be responsible for financing the <br />improvements for new plats unless it is in the Cit},'s best interest to finance the <br />improvements. From a financial point of view, it is usually not in the City's best interest to <br />finance developer improvements, mainly because it increases the City's outstanding debt. <br />The City has not financed any developer improvements for several years and has only <br />received one such request recently. In that case, the developer decided it would be more <br />cost effective to finance the improvements privately. <br /> <br />In summary, if the Council decides to finance the internal improvements for Park Pointe, I <br />would recommend that the developer pay for all additional interest costs incurred by the City <br />on all bonds issued that are not bank qualified due to financing Park Pointe improvements. <br /> <br /> <br />