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7. UPDATE ON CITY PURCHASE OF CARPENTERS RESTAURANT AND THE <br /> ANTIQUE STORE FROM MIKE AND CATHERINE ANDERSON <br /> On August 23, 2005, Mayor Fran Miron, Council member Mike Granger, and City staff met <br /> again with Mike and Catherine Anderson, owners of Carpenters and the old antique store. After <br /> several meetings, discussions evolved towards a proposed purchase of the restaurant, as well as <br /> the old antique store, which had been directed by Council. Staff announced that negotiations <br /> have been successful and that Andersons have agreed to sell to the City,both Carpenters and the <br /> antique store. At the September 6, 2005, City Council meeting the Council approved the <br /> purchase of both properties in the amount of$687,000. This includes a price of$347,000 for the <br /> antique store and $340,000 for the Carpenters restaurant, which is consistent with evaluations of <br /> City Assessor Frank Langer. There will be a two-year lease back to the Andersons at no cost, <br /> and they would continue to operate the restaurant on a month-to-month basis, in order to allow <br /> the flexibility of the City to continue negotiations with the developers on the Egg Lake <br /> development project. <br /> 8. APPOINTMENT OF REPLACEMENT MEMBER TO THE TIF SUBCOMMITTEE <br /> Theresa Charpentier regrets to inform the EDA that she will be vacating her position on the TIF <br /> subcommittee. Mrs. Charpentier has recently started a new job and does not have enough <br /> available time to participate in the subcommittee. City staff recommends the City council and <br /> the EDA appoint a replacement member to the TIF subcommittee. <br />