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MINUTES <br />CITY COUNCIL <br />May 23, 1990 <br />The foregoing resolution was duly seconded by Collova. <br />Ayes (5) Scalze, Collova, Blesener, Fahey, LaValle. <br />Nays (0). <br />Resolution declared adopted. <br />BUSINESS The City Administrator requested that the Council table <br />LICENSING discussion of the business licensing policy until the <br />POLICY next Council meeting. ! <br />LEB Pat Pelstring, Business Development Services, appeared <br />DEVELOPMENT before the Council and reviewed the LEB Development <br />AGREEMENT Agreement which covers the first office/showroom <br />building that LEB proposes to develop on Country Drive. <br />Pelstring explained the terms of the agreement one of <br />which requires a$52,000 letter of credit from the <br />developer. The Agreement calls for the City to provide <br />TIF funding when the project is 50% complete, there is <br />mortgage approval, and the letter of credit is in <br />place. The Agreement also provides that any relocation <br />expenses are the responsibility of the developer. <br />Pelstring felt the agreement was a good, secure one for <br />the City. Pelstring also reported that the developer <br />is planning to commence construction prior to June 3oth <br />with the buildinq to be completed before the end of the <br />year. <br />The City Attorney reported he has reviewed the <br />Agreement, has no objection to substance, however, has <br />a couple of minor questions he would like to discuss <br />with Briqqs and Morgan. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION NO. 90-5-257 - APPROVING THE LEB DEVELOPMENT <br />AGREEMENT AS PRESENTED, SUBJECT TO THE CITY ATTORNEY <br />WORKING OUT ANY CONCERNS HE MIGHT HAVE WITH BRIGGS AND <br />MORGAN, AND AUTHORIZING THE MAYOR AND CITY <br />ADMINISTRATOR TO EXECUTE THE AGREEMENT ON BEHALF OF THE <br />CITY <br />The foregoing resolution was duly seconded by Blesener. <br />Ayes (5) LaValle, Blesener, Collova, Scalze, Fahey. <br />Nays (0). <br />Resolution declared adopted. <br />Pelstring reported that it is Briggs and Morgan's <br />recommendation that separate development agreements be <br />enacted for each of the office/showroom buildings <br />Page 14 <br />