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<br />I <br /> <br />I <br /> <br />I <br /> <br />Council Meeting Minutes <br />May 9, 1989 <br /> <br />Page 3 <br /> <br />Public Hearing ~ None <br /> <br />Council Bus i ness <br /> <br />Anne Norris, Community Development Specialist, informed Council that <br />Opus Corporation has requested that the Development Agreement for <br />Tax Increment Financing District No. 6 be continued to the May 23, <br />1989, Council Meeting. Norris has been contacted by Opus regarding <br />proposed amendments to the development agreement. Norris and Locke <br />feel the proposed amendments are of a substantial nature and need <br />additional time for review. <br /> <br />Motion by Larson, seconded by Williams to CONTINUE THE CONSIDERATION <br />OF A DEVELOPMENT AGREEMENT WITH OPUS CORPORATION TO THE MAY 23, <br />1989, COUNCIL MEETING. <br /> <br />5 Ayes - 0 Nayes, Motion Carried <br /> <br />Glen Olsen, Director of Real Estate Development, Opus Corporation, <br />explained that final negotiations are now underway with tenants, but <br />1 eases have not been formal i zed. A 1 so, the fi na 1 des i gn of the <br />building and title investigations are still being reviewed. Mr. <br />Olsen is confident that these issues will be resolved in the near <br />future. <br /> <br />Margaret Egan, Finance Director, presented the Utility Management <br />Report Establishing the 1989 Water and Sewer Rates. <br /> <br />The City.s practice is to review annually the water and sewer <br />services. The annual cycle is beneficial in allowing for timely <br />evaluation and permits the matching of customer fees and costs to <br />occur in a gradual manner. <br /> <br />Sewer consumption rates will continue at $1.30 per 1,000 gallons and <br />the flat fee will be modified in order to collect $97,000.00. The <br />flat fee collection amount is down 31% over the 1988 figure. <br /> <br />The water rates will be reduced from $.70 to $.55 per 1,000 gallons. <br />In order to accomplish this reduction, settlement proceeds will be <br />used to subsidize the rate change by contributing $.12. The water <br />flat fees will be arranged to collect $160,000. In order to prevent <br />the contamination bonds from being financed through customer <br />charges, the settl ement proceeds wi 11 subs i di ze the water debt. <br />This will relieve the customers of $300,000 in flat fee costs. <br /> <br />Public Hearing <br /> <br />Council Business <br /> <br />Development Agreement <br />for Opus Corporation <br />Report 89-136 <br /> <br />Establishment of 1989 <br />Water and Sewer Rates <br />Report 89-137 <br />Resolution 89-74 <br />