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10 1 execute the Redevelopers <br />2 resolution of any issues <br />3 to be negotiated. <br />4 <br />Contract with the Gaughan Company subject to <br />which the City Attorney indicated remained <br />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 <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 />0 <br />20 Respectfully submitted: <br />21 Helen Crowe, Secretary <br />22 :cjk <br />23 <br />IR <br />4 <br />