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City Council Regular Meeting Minutes 06 <br /> May 11, 2004 <br /> Page 6 <br /> 1 Councilmember Horst stated his recommendation was that Council accept the bid as it was <br /> 2 currently stated. <br /> 3 <br /> 4 Motion by Councilmember Faust, seconded by Councilmember Stille, to adopt Resolution 04- <br /> 5 039 relating to $2,075,000 General Obligation Temporary Improvement Bonds, Series 2004B; <br /> 6 awarding the sale to UMB Bank of Kansas City at a bid price of 1.7015%, fixing the form and <br /> 7 details and providing for the execution and delivery thereof and security therefor and levying ad <br /> 8 valorem taxes for the payment thereof. <br /> 9 <br /> 10 Motion carried unanimously. <br /> 11 <br /> 12 Motion by Councilmember Thuesen, seconded by Councilmember Faust, to adopt Resolution <br /> 13 04-040 relating to $1,790,000 General Obligation Improvement Bonds, Series 2004A; awarding <br /> 14 the sale to Wells Fargo Bank at a bid price of 4.2606%, fixing the form and details and providing <br /> 15 for the execution and delivery thereof and security therefor and levying ad valorem taxes for the <br /> 16 payment thereof. <br /> 17 <br /> 18 Motion carried unanimously. <br /> 19 <br /> 20 B. Resolution 04-041, Approve New Date for Phase II of Silver Lake Village. <br /> 21 It was noted, in the Development Agreement approved by the City on December 16, 2003, the <br /> 22 developer was to enter into an agreement by May 31, 2004, with the HRA to construct the Phase <br /> 23 H development. It was explained the developer was asking for an amendment to the Agreement <br /> 24 that would give them until December 31, 2004, because of the time spent putting the Phase I <br /> 25 project together. It was stated both Council and the H.R.A. needed to approve. <br /> 26 <br /> 27 It was recommended Council adopt Resolution 04-041 for extension of the time line for Phase II <br /> 28 of Northwest Quadrant development. <br /> 29 <br /> 30 Stacie Kvilvang, Ehlers and Associates Inc., noted last December Council executed a <br /> 31 Development Agreement with Mr. Pratt and partners regarding the Apache redevelopment in the <br /> 32 Northwest Quadrant, which slated specific time periods related to Phase I and Phase II of the <br /> 33 project. She explained a time problem had surfaced and the developer was requesting an <br /> 34 extension of time to submit the Phase II elements. She added the developer was still interested in <br /> 35 completing Phase II of the development and was requesting the new date to submit proforma and <br /> 36 plan information be extended to October 15, 2004, and the date to enter into a contract addendum <br /> 37 be extended to December 31, 2004. <br /> 38 <br /> 39 Mayor Hodson indicated this was anticipated and added quite a bit of activity was taking place. <br /> 40 He noted a market analysis was being done to determine what types of products would be <br /> 41 moving into the area. <br /> 42 <br /> 43 Councilmember Stille agreed there was continual activity. He stated it would be time to step <br /> 44 back and ask questions if things were not happening and there was an appearance of stalling; <br /> 45 however, that was not the problem in this situation. <br /> 46 <br />