07-11-2018 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JULY 11, 2018 93 WEST DISBURSEMENT AGREEMENT Port Authority requesting the assessments be placed on the property for the total amount of $1,125,000 is included in tonight's additions packet. She stated that staff recommends the Council place the assessments on the Suite Living Little Canada parcels. Montour introduced the following resolution and moved its adoption: RESOLUTIONNO. 2018-7-148 —AGREE TO PLACE PROPERTY ASSESSED CLEANENERGY (PACE) SPECIAL ASSESSMENTS ON PARCELS 06-29-22-33-0034 AND 06-29-22-33-0035 FOR A TOTAL OF $1,125, 000 AS REQUESTED BY THE PROPERTY OWNER, DIGNICARE PROPERTIES OF LITTLE CANADA, LLC The foregoing resolution was duly seconded by Montour. Ayes (5). Nays (0). Resolution adopted. The City Attorney reported that the City has agreed to provide $200,000 in funding to the owner of the office building at 93 West Little Canada Road. He stated that this agreement is a result of the city facilitating the move of the senior housing project from this property to the Rice Street location. He explained that the $200,000 contribution is being funded by the assignment fee the City charged to the Suite Living developers to transfer our purchase agreement with Cash for Homes to them. The City will be gaining $200,000 from that transaction, but those proceeds will not be realized for three years based on our loan agreement with Suite Living. The City Attorney stated that the owner of the 93 West building will use the funds to make enhancements to the property as defined in the agreement. He explained that the City will be reimbursing the property owner after the work has been paid for by the owner and a lien release is provided to the City. Fischer clarified that the Building Inspector will have the authority for some sort of recourse if any work is not done properly. The City Attorney stated that the Building Inspector would be able to stop the project if compliance is not reached. He noted that at least two quotes must be received from all work components and any changes to the work scope needs the approval of the City before they can be made. Keis introduced the following resolution and moved its adoption: RESOL UTION NO. 2018-7-149 — APPR O VE THE DISB URSING AGREEMENT WITH 93 WEST, LLC FOR REIMBURSEMENT OF UP TO $200,000 OF PROPERTY IMPROVEMENTS AT 93 WEST LITTLE CANADA ROAD AS PRESENTED BY THE CITYATTORNEY