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MINUTES CITY COUNCIL JANUARY 13, 2010 AGREEMENT, WHICH IS HALF OF THE TOTAL DEMOLITION COSTS FOR 2966 ARCADE STREET AS THE PROPERTY STRUCTURES HAVE BEENA NUISANCE ON THIS PROPERTY The foregoing resolution was duly seconded by McGraw. Ayes (5). Nays (0). Resolution declared adopted. The City Administrator also noted that property taxes were erroneously omitted as a defined "Allowable Development Cost". The Administrator recommended that property taxes be included in that category and our Development Agreement amended accordingly. The Administrator also noted that there is a Tax Increment Financing (TIF) District on this property which will protect the City in the event that development proceeds are not adequate to reimburse the City its costs. Mr. Blesener introduced the following resolution and moved its adoption: RESOLUTION NO. 2010-1-11-AMENDING THE DEVELOPMENT AGREEMENT WITH MASTERPIECE HOMES FOR 2966 ARCADE STREET TO INCL UDE PROPERTY TAXES AS A REIMSURSEABLE DEVELOPMENT COST AS RECOMMENDED BY THE CITYADMINISTRATOR AND AUTHORIZING THE MAYOR AND CITYADMINISTRATOR TO EXECUTE THE DEVELOPMENT AGREEMENT AMENDMENT ONBEHALF OF THE CITY The foregoing resolution was duly seconded by Boss. Ayes (5). Nays (0). Resolution declared adopted. The City Administrator noted that Masterpiece Homes maybe proceeding with the planning of the development of this property in 2010 with construction to occur in 2011. MARCH McGraw requested that the Council change its March l0, 2010 regular MEETING meeting to Monday, March K, 2010 given a schedule conflict that he has. CHANGE Mr. Montour introduced the following resolution and moved its adoption: RESOLUTIONNO. 2010-1-12 -CHANCING THE WEDNESDAY, MARCH 10, 2010 REGULAR COUNCIL MEETING TO MONDAY, MARCH 8, 2010 AT 7:30 P.M. The foregoing resolution was duly seconded by Keis. 7