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MINUTES <br />CITY COUNCIL <br />DECEMBER 19, 2007 <br />MIDWEST The City Administrator presented a proposed Development Agreement <br />GYMNASTICS for the Midwest Gymnastics project to be located in the former Knox <br />DEVELOP- building. He noted that some of the clean up of the property has been <br />MENT completed, but there are some minor modifications that will be addressed <br />AGREEMENT when the substantial exterior improvements are done. The Administrator <br /> also noted that the existing pylon sign will be changed out from Drywall <br /> Supply to Midwest Gymnastics when the gymnastics business moves into <br /> the property. <br />Bob Wagner, representing Jess Graba, Midwest Gymnastics, expressed <br />concern about the City's requirement of both a letter of credit and an <br />occupancy permit. He noted that under a scenario where an occupant was <br />moving into the building during the winter months, but might not be <br />feasible to complete the exterior improvements. Wagner did not want this <br />situation to jeopardize either the letter of credit or the occupancy permit. <br />The City Administrator felt that both requirements should remain in the <br />Agreement, but noted for the record that the City would work with the <br />property owner. Wagner acknowledged that position, but noted that the <br />Agreement still would require both and Midwest's letter of credit could be <br />in jeopardy. <br />Blesener agreed that the City would be willing to work with the property <br />owner and would not require exterior improvements that could not be <br />completed during the winter months. The City Administrator noted that <br />the Agreement also provides fora 30-day redemption period so if an issue <br />arises that needs to be addressed, the property owner would have 30 days <br />before the City would collect on the letter of credit. <br />Graba asked when the letter of credit would be released. The City <br />Adminishator indicated it would be released when the project is <br />completed in compliance with the Development Agreement. <br />Mr. Keis introduced the following resolution and moved its adoption: <br />RESOLUTION NO. 2007-12-334 -APPROVING THE MIDWEST <br />GYMNASTICS DEVELOPMENT AGREEMENT AS PRESENTED BY <br />THE CITYADMINISTRATORAN0 AUTHORIZING THE MAYOR <br />AND CITY ADMINISTRATOR TO EXECUTE ON BEHALF OF THE <br />CITY <br />The foregoing resolution was duly seconded by McGraw. <br />Ayes (5). <br />Nays (0). Resolution declared adopted. <br />18 <br />