Agenda Packets - 1986/06/09 - Laserfiche WebLink

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Mounds View City Council f June 9 1986 Regular Meeting IPa, a six !� 1 � g ------------------------- -- Y r ♦� --L- D --------------- Motion/Second: Ilaake/Blanchard to approve Development Agreement No. 86-75, with a cover letter indicating the non-applicabie parts will be excluded, and the requirement for the telephone on the site will be deleted. 4 ayes 0 nays 1 Motion Carried Director Thatcher reported that Ronald Richardson 10. Consideration has submitted information to the City through Attorney of Development Meyers, and his banker is requesting that the letter Agreement No. of credit have an expiration date. 86-64 Attorney Barney stated he will have to research the issue further to see if an expiration date would be appropriate. He added that if they do establish one, it should extend beyond the first of the year. Mike Rich, representing Mr. Richardson, stated he had spoken with Mr. Richardson's banker, who told him an expiration date was required. He added that Mr. Richardson could request an extention to cover any additional time that is necessary, or the City could draw on the letter. He agreed that the date could be advanced, to allow ample time for I construction to be completed. Attorney I(arney questioned the amount of the ietter of credit, wondering whether $10,000 would be sufficient to protect the City. Director Thatcher stated that $10,000 would be sufficient. Motion/Second: Quick/Blanchard to table this item until the next regular meeting, on June 23, 1986, to allow the City Attorney time to look into it. 4 ayes 0 nays Motion Carried Motion/Second: Ilaake/Quick to approve the renewal 11. Renewal of On - of the on -sale and off -sale liquor licenses for the Sale and Off -Sale Mermaid, Donatelle's Supper Club, Loose Ends on 10, Liquor Licenses B 6 R Liquor, Budget Liquor, Simon's Iiqunr, and the Bel -Rae Ballroom, from July 1, 1986 to June 30, 1987. 4 ayes 0 nays Motion Carri-