Development Team Meeting Notes (96-99)

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~1D8IIC1Dg ', ~ Dan reported that the Financing Team met on Octo ;~ ber 8• They are working n the total dollar needs of the pro~ect. The county may go out for a bond offering at 20 mil ion. Archives is looking to meet with Curt to discuss developing some property on Center S t. F~nancing is moving forward, Dan has requested that Bond Counsel be brou I t on board next week. ~h Project Development '~ RG reported that Ben has be~n ~~uch with the FTA and they now understand e condominium concept and have given us a green light. They need to redraft the numbers d will schedule a meeting with Dan, Randy, Mike and the condominium attorney. ~J~ ~velopment Agreeme~rt; RG will get authorization next week to nego liate with COG. Dan and Gordon Hanna have been working on the Project Development Agr ment between the county and transit and will sit down with bond counsel to address the disper ement of funds and the melding the CpG and private monies together. RG stated that we need paper trail on the decisions being made. There was general discussion around cost accou ting issues and dispersement of grant, CpG and private monies and the bid process. Tom Wol gram and Elyn R'~ll be getting together to work out the accounting procedures for the project. ey will have to develop a method for making payments now and balancing it out later. ' ~rr Dan reporte~ that both the county and the transi t board have naming the plaza ~~Iatfield Plaza" on theu agenda for next week. Condominium Agreement: Dan reported that he has located an attorney in P~ rtiand who is familiar with land and air rigbts negotiation. He and Gordon have an appointme t with him on Monday, to review his credentials and discuss the project and the project t' e line, The agreement will cost anywhere from $20,000.00 -$30,ppp.pp, T'~ey will be in putting the documents together in the next two weeks, Dan reported that he spoke to Randy in regards to ro e I~ transit funds or from his own coffers. RG responded that b dget hasl$974,ppp owing from money, that they are authorized to draw upon once the condominium agreement ,is p a~e r~ GMP Update ' Curt reported that he has met with consultants on utility issues. The electrical at is on the block is at a dead-end. There is water and sewer in the alley. It may be possible relocate all of the utilities at the city's expense by getting an agreement that the city would 1' to have the utilities relocated for the public good. Abandoning the ailey was discussed, ce the legal description of the block is obtained, Dan will have Gordon move forward with e process to ~a~ate• Alan reported that this is a thirty (30) to sixty (60) day process. ~ Dan will meet with Mark Kendle, of DOE, asking them to audit the project and 'dvise on credits, a~ t~