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MINUTES <br />CITY COUNCIL <br />JUNE 10, 2009 <br />an investment for the City and would be at a rate higher than what the City <br />could earn in the market. Therefore, it is a win/win situation in that the <br />City earns a good rate of return and the Fleur Royale property owners can <br />finance their HIA fees at 3.54%. <br />McGraw noted that given he is a property owner in Fleur Royale, he will <br />abstain from the discussion. <br />Mr. Keis introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2009-6-129 -APPROVING THE TERMS OFAN <br />INTERNAL LOAN IN CONNECTION WITH THE FLEUR ROYALS <br />HOUSING IMPROVEMENT AREA <br />The resolution was duly seconded by Blesener. <br />Ayes (3). <br />Nays (0). <br />Abstains (1) McGraw. Resolution declared adopted. <br />The Council next considered the applications for HIA fee deferments. The <br />Administrator reviewed the criteria under which the deferments continue <br />and noted that these HIA fees will accrue interest at the 3.54%. He <br />reported that the County has indicated they have no concerns in the <br />approval of these deferments. <br />Mr. Montour introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2009-6-I30 -APPROVING THE DEFERAL OF <br />CERTAIN HIA FEES FOR THE CANABURY CONDOMINIUM <br />HOUSING IMPROVEMENT AREA AS RECOMMENDED BY THE <br />CITYADMINISTRATOR <br />The foregoing resolution was duly seconded by Blesener. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />Mr. Montour introduced the following resolution and moved its adoption: <br />RESOL UTION NO. 2009-6-131- APPROVING THE DEFERAL OF <br />CERTAIN HIA FEES FOR THE FLEUR ROYALS HOUSING <br />IMPROVEMENT AREA AS RECOMMENDED BY THE CITY <br />ADMINISTRATOR <br />The foregoing resolution was duly seconded by Blesener. <br />Ayes (3). <br />Nays (0). <br />Abstains (1) McGraw. Resolution declared adopted. <br />6 <br />