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I I I Council Meeting Minutes April 24, 1990 Page 9 Council Business, continued Council Bus i ness Originally, the City invested $1.5 million to acquire the site and received $600,000 from the developer. The City deposited the Amendment to Brighton $600,000 in an interest earning account. Also, because of the Corp. Park Agreement developer's default the City cashed a letter of credit for $50,000 Report 90-98 which was posted by the developer. Norris determined the City's current net liability to be about $900,000. In addition, the Computerized Mailing Systems (CMS) building is valued at $750,000 and is earning increment towards the debt. The proposed building will be valued at $900,000 and will generate about $40,000 in increment to the City. Additional buildings would place the City in a even more positive position. Council and staff expl ai ned to Mr. Dahms the procedure used in determining these factors. Motion by Gunderman, seconded by Benke, to APPROVE AND AUTHORIZE EXECUTION BY THE MAYOR AND CITY MANAGER OF THE ADDENDUM TO THE BRIGHTON PARK INC. DEVELOPMENT AGREEMENT IN SUBSTANTIALLY THE FORM PRESENTED AND; TO DIRECT STAFF TO PREPARE A RESOLUTION EXERCISING THE CITY'S RIGHTS TO RE-ENTER AND TAKE POSSESSION OF THE BRIGHTON CORPORATE PARK PROPERTY FOR CONSIDERATION AT THE MAY 8, 1990 CITY COUNCIL MEETING. 5 Ayes - 0 Nayes, Motion Carried Les Proper, City Engineer, said the granular activated bids carbon Carbon Bids for GAC were opened on April 23, 1990. Calgon Carbon Corporation submitted Report 90-99 the only bid which was in the amount of $184,950.00. The bid is reasonable according to purchases at other treatment facilities. Moti on by Wi 11 i ams, seconded by Gunderman, to AWARD THE BID FOR CARBON PURCHASE TO CALGON CARBON CORPORATION IN THE AMOUNT OF $184,950.00 5 Ayes - 0 Nayes, Motion Carried Childs reviewed the release agreement for City funds for Well #13. Federal Reimbursement for Well #13 Report 90-100 In 1986, the City paid $49,000 as the non-Federal match for a Superfund project to construct a new Mt. Simon/Hinckley well (Well #13) . The EPA approved a Superfund proj ect to construct Well #13 as a replacement for the contaminated old Well #7. In January 1990, the EPA reneged on the Well #13 project stating it was no longer needed as a result of the PGAC water treatment facility provided in the settlement agreement with the Army.