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need to change the Development Agreement. He suggested staff work with the developers and HUD to address their request and see if HUD can be comfortable with the language. Planning Associate Ericson recapped that the Development Agreement addresses this project as one entity, not separately. He stated that the City's legal team is reviewing these documents and suggested that the Council address their recommendation at the next meeting. Mayor Coughlin stated that he does not want to see this project lost but, since the City Attorney has expressed reservations, he would be inclined to have it considered by the May 3 Council Work Session meeting if the developers can provide needed information to staff and City ;` Attorney. He stated that he would not object to calling a special meeting during the work session so the developer's closing deadline can remain on schedule. Marcel Ebensteiner, Principle of Silverview Estates, stated that everything is completed in the Development Agreement and they thought the$113,000 letter of credit was in place, but it has expired. He stated that he is willing to renew the letter of credit to be able to close and then work with staff to reduce that letter of credit. The Council indicated their agreement to call a special meeting, if needed. Julie Olson, 2663 Lake Court Circle, asked why, since there is no litigation on the Building "N" project,the sessions are closed which prevents public attendance. She asked what portions of the contract negotiations are going through Council versus the EDA. City Attorney Long explained the EDA was threatened with a law suit by the developers a week ago and received the cover page of a summons of complaint. Thus,the recommendation for a closed session so the Council can understand the claims being brought against them. He advised that the EDA will either approve or not approve of the proposed changes. .41 Ms. Olson asked if it is only the TIF that correlates to the EDA. City Attorney Long explained the Development Agreement is what is being challenged by the developer and the related issue of site plans was acted on by the Council at the end of last year. He stated the EDA only deals with the TIF portion and size issues. With regard to the discussion about the golf course, Ms. Olson asked if, since its beginning, a portion is still not coming from the General Fund. City Administrator Whiting stated there was an interfund loan transfer contemplated and set aside from the Water Fund but it was never actually made or accessed. He stated that it would make sense that the golf course should be self supporting and apologized for staff's assumption that all knew of that. 6 U:\CARIS\COUNCIL\MINUTES\MVCC26.APR ;I