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MINUTES REGULAR CITY COUNCIL MEETING MARCH 13, 1985 PAGE 4 Following the discussion, all agenda items relating to the Lido project were deferred awaiting the outcome of proposed negotiations between the Lido, Mr. Meyers, and Mr. Thomas, and between the City and Hermes. Robert Collins, Attorney for Bullseye Golf, presented an update on the progress of that proposed project. He then requested that Council approve the plan to decrease the basement area of the structure from 12,000 to 6,000 square feet which would mean a savings of approximately $58,000. Mayor Eggert asked if the proceeds from the savings be used to fund lighting, landscaping, irrigation, etc., as requested by the City. Mr. Collins explained that Miller Schroeder will not agree to it, their rationale being that there are rents to be derived and when you remove 6,000 square feet you are removing a part of that rental value, but they might change their minds as leases come in. Councilmember Chenoweth was of the opinion that Miller would not supply more funds since it reduces rentals, and felt the size should not be decreased. Councilmember Ciernia stated he was un- comfortable with all the undecided items and felt it might be appropriate to delay the matter until all items are in place. Mr. Collins explained that the reduction causes problems to Kraus-Anderson and their subcontractors and they would like the matter resolved as soon as possible in order that they can finalize amounts of materials, etc. He felt that the March 27th meeting would be too late. Councilmember Baldwin expressed concern over the number and scope of changes made by Bullseye, considered them violations of the development agreement, and suggested the development agreement be re-negotiated. Mr. Collins indicated he must have approval tonight or they would be forced to go forward with the 12,000 square foot basement. Council discussed whether or not it would be possible to make a trade off, i.e. consider the change in size of the basement in return for completion of landscaping, etc. Mayor Egger t then moved that the request to reduce the size be granted with the stipulation that the items in his letter of December 6, 1985, be completed. Motion died for lack of a second. Attorney Gasteazoro reviewed portions of the agreement and was of the opinion that since the agreement was based on construction plans which have already been approved, the City could not require a trade-off as discussed, however, the plans could be amended by a change order and the City would be secure. The City could then withhold the Certificate of Completion if Bu11se5e does not go forward. Attorney Gasteazoro was of the opinion that if signing of the certificate is refused, the bank will be concerned. and, no doubt, complete the project, however, she was not positive, and explained that the City has limited rights due to subordination. Councilmember Hard inquired if improvements made be renters would increase the value which would benefit the tax increment financing, to which Attorney Gasteazoro replied that the higher value would be considered. v ALL LIDO ITEMS DEFERRED BULLSEYE GOLF REQUEST TO DECREASE SIZE OF BASEMENT TO 6,000 SQUARE FEET DENIED Following the discussion, Mayor Eggert moved, seconded by Councilmember Hard, BULLSEYE that the request to reduce the size of the basement from 12,000 to 6,000 REQUEST TO square feet be approved. Upon a vote being taken, the following voted in APPROVE favor thereof: Councilmember Hard, and the following voted against the same: REDUCTION Mayor Eggert, Councilmembers Baldwin, Ciernia and Chenoweth. Motion failed. DENIED