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MINUTES OF THE PINGS OF THE HUGO CITY COUNCIL(Special Meeting) <br /> June 22, 1981 <br /> The Special Meeting was called to order by Mayor LaValle at 7:10 PM. <br /> PRESENT: LaValle, McAllister and Irsfeld <br /> ABSENT: Vail and Schletty <br /> Schletty arrived at 7:13 PM. <br /> The special meeting was held to discuss the cost and financing of Project 8102 <br /> (street and storm sewer improvement) in the Bald Eagle Industrial Park with <br /> the effected property owners. The lack of appearance at this meeting will be <br /> an indication that those parties are in agreement with the improvement project. <br /> Effected property owners in the audience were: Grace Jackson, Dan Eldredge, <br /> Bob Bigelbach, and Dale Keller. <br /> Howard Kuusisto presented the tabulation of the lowest bid, W. & G. Rehbein <br /> Brothers ($123,942.33). which he would recvnaue.Lid. <br /> PIOTECT BID $123,942.44 <br /> Less Service Stub, 6" 1,905.00 <br /> New Project Bid 122,037.44 <br /> Project Contingencies 5,101.87 <br /> Legal, Fixcal & Engineering 18,305.62 <br /> Project Cost 146,443.93 <br /> Project Cost divided by 2,342' $62.53/foot <br /> Councilman Irsfeld explained the financial details for the project. The City <br /> could sell a 3 year bond based on an interest rate of approximately 9 to 10%. <br /> Then refinancing could be done for another 3 years, with the intent of keeping <br /> the bond saleable. <br /> Attorney Johnson prepared and handed out the proper easement documents. <br /> Grace Jackson, developer for the Bald Eagle Industrial Park, said she would <br /> have to confer with her partner before any easements could be signed by them. <br /> She also stated she would have to divide off some land before she could pay <br /> off the assessment or any portion of it. She felt the City has been reluctant <br /> in developing the Industrial Park, and, therefore, she would be reluctant in <br /> signing the deeds. However, she would give it further consideration. <br /> She also stated that her partner, Ken Tschida, has spoken always on his own <br /> behalf, and does not represent the views of the Grace Development Company. <br /> MOTION: LaValle made notion, seconded by Irsfeld, to table Project 8102, <br /> Street and Storm sewer Improvement in the Bald Eagle Industrial <br /> Park, until the meeting of July 6, 1981 . <br /> VOTING FOR: LaValle, McAllister, Schletty, Irsfeld <br /> MOTION CARRIED <br />