Laserfiche WebLink
1 execute the Redevelopers Contract with the Gaughan .Company subject to • <br /> 2 resolution of any issues which the City Attorney indicated remained <br /> 3 to be negotiated. <br /> 4 Motion carried unanimously. <br /> 5 Mr. Gaughan commented that since they had started to negotiate <br /> 6 financing for the project, *the interest rate had gone up to the point <br /> 7 ' where it would cost them an additional $85 ,000 more a year to <br /> 8 -complete the project. However, the . developer said, he still wanted <br /> 9 to do the project and would continue to work on it.' <br /> 10 Secretary/Treasurer Marks told him the Commissioners were.. also <br /> 11 determined to get the project completed with his buildings replacing <br /> 12 the deteriorating buildings in the center now. He added that was <br /> 13 the reason he ran for the City Council 8 years ago and he was up for <br /> 14 re-election this fall just because he was determined to- see that goal <br /> 15 accomplished. <br /> 16 ADJOURNMENT 2. <br /> 17 Motion by Ranallo, seconded by Makowske to adjourn the meeting at <br /> 18 9 : 25 P.M. <br /> 19 Motion carried unanimously. <br /> • <br /> 20 Respectfully submitted: <br /> 21 Helen Crowe , Secretary <br /> 22 :cjk <br /> 23 <br /> 4 <br />