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MINUTES <br />CITY COUNCIL <br />JANUARY 28, 1998 <br />ARCADE recommended that the matter be discussed in closed session. <br />STREETIMP. <br />Mr. Morelan introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 98-1-21- CALLING FOR A CI.OSED SESSION <br />TO DISCUSS THE RYAN CONTRACTING PAYREQUEST FOR <br />THE ARCADE STREET IMPROVEMENT <br />The foregoin~ resolution was duly seconded by Scalze. <br />Ayes (5) Morelan, Scalze, Pedersen, LaValle, Fahey. <br />Nays (0). Resolution declared adopted. <br />STRATEGIC Based on the lack of availability of participants during the month of <br />PLANNING February, Council directed staff to compile available dates in March <br />SESSION and April for a Council/Staff strate~ic planning session. <br />DOMINIUM The City Administrator reported that the a~reement with Dominium <br />AGREEMENT relative to The Provinces is virtually in final form. Bond Counsel will be <br />reviewing the agreement and fine-tuning it to address a couple of points of <br />clarification. The annual payment due the City by Dominium will start <br />immediately, will not wait until escrow is fully funded, and the escrow <br />payment will be reduced by that amount. Finally, sprinklering of The <br />Provinces will include corridors and two sprinkler heads in each unit. The <br />Administrator reported that the City is putting its bond origination fee of <br />$36,850 back into the project, but the front-end payment by Dominium <br />will likely offset that amount. <br />Scalze asked if it were necessary for the City to put the $36,850 into the <br />project. The Administrator replied that it became apparent this would be <br />necessary during negotiations with Dominium. He stated that past <br />Council discussions with Dominium on this issue offered this possibility. <br />The Administrator also pointed out that the annual payment by Dominium <br />was not to start until the escrow account was fully funded. These <br />payments will now start immediately. <br />Fahey felt that sprinklering The Provinces was an excellent safety <br />improvement for the future. <br />Mr. LaValle introduced the following resolution and moved its adoption: <br />RESOI.UTIONNO. 98-1-22-APPROVINC, THEAGREEMENT <br />WITHDOMINIUMREI,ATIVE TO THE PROVINCESSU73JECT TO <br />ANY FINAI. MODIFICATIONS REQUIRED 73Y TFIE CITY',S I30ND <br />COUNSEL <br />10 <br />