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MINUTES <br />CITY COUNCIL <br />AUGUST 9, 2006 <br />CONDOLENCES The City Administrator extended condolences on behalf of the City <br />TO Building Official Steve Westerhaus and his family at the passing of <br />WESTERHAUS his mother today. <br />FAMILY <br />CONSENT Keis asked for a brief explanation of the TIF Shortfall Notes that are <br />AGENDA included in the Consent Agenda for approval. The City Adminish~ator <br /> reported that the TIF Agreements included a provision that the developer <br /> would have to guarantee minimum tax collection levels in the evenC that <br /> building construction was not started on time. Sherman Associates did not <br /> start construction in accordance with the agreed upon timetable; Cherefore, <br /> was required to pay TIF guarantees in advance. The City then issues TIF <br /> notes. The Agreements also provide that the developer has a chance to <br /> recover these costs once all requirements of the TIF District are satisfied if <br /> there are excess TIF funds available when the District ends. <br />Mr. Blesener introduced the following resolution and moved iCS adoption: <br />RESOLUTION NO. 2006-8-781-APPROVING THE CONSENT <br />AGENDA WHICH CONTAINS THE FOLLOWING: <br />y°APPROVAL OF THE VOUCHERS; <br />*APPOINTMENT OF ELECTION JUDGES FOR THE SEPTEMBER <br />l2, 2006 PRIMARY ELECTION; <br />*APPROVAL OF PAY REQUEST #1 TO R. H. RENNER FOR <br />MARKET PLACE POND WELL; <br />*APPROVAL OF PAY REQUEST #3 TO T. A. SCHIFSKY FOR 2006 <br />IMPROVEMENTS; <br />*APPROVAL OF TIF SHORTFALL NOTES FOR SHERMAN <br />ASSOCIATES <br />The foregoing resolution was duly seconded by LaValle. <br />Ayes (4). <br />Nays (0). Resolution declared adopted. <br />TRAFFIC The City Administrator reported that last fall the Council authorized the <br />SIGNAL City's participation in the cost of installation of traffic signal emergency <br />EMERGENCY vehicle pre-emption devices at both the intersections of Rice Street/694 <br />VEHICLE and Rice Street/Country Drive. The Administrator pointed out that Che <br />