06-12-90 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL JUNE 12, 1990 and 30~ two-bedroom units and the design features that would make the project a senior facility. Fahey felt the project would fill a need in the City, and he would support the study of the financial feasibility provided that Dominium Group paid the costs of that study. Scalze stated that she would not support anything that would jeopardize local goyernment aids. Brachman pointed out that a study would indicate whether the impact of City assistance would be significant or minor. Collova stated that he was in favor of proceeding with the financial study, however, felt that the 100 units proposed was heavy. Blesener felt the use proposed was a good one, but was in favor of a project in the 50 to 60 unit range. Collova expressed concern about ensuring that the building remained a senior building. Fahey pointed out that Brachman indicated a willingness to enter into a covenant that would run with the land for 20 to 30 years guaranteeing a senior building. Fahey suggested that the City proceed with the rezoning hearing to determine how the adjacent property owners feel about the issue. Scalze pointed out that the have already indicated that with the rezoning. owners of the Market Place they did not have a problem Brachman estimated that the financial analysis could be ready for Council review at its July 25th meeting. The Administrator recommended an escrow deposit in the $3,000 to $5,000 range to cover consultants' costs. Brachman agreed to a$3,000 deposit which he would replenish back up to $3,000 when it reached the $1,000 level. Mr. Fahey introduced the following resolution and moved its adoption: RESOLUTION N0. 90-6-275 - AUTHORIZING CITY STAFF, INCLUDING THE CITY PLANNER AND BOND CONSULTANT, TO WORK WITH THE DOMINIUM GROUP TO STUDY THE FINANCIAL FEASIBILITY OF GOING FORWARD WITH A SENIOR CITIZEN Page 8