Fiscal 2023 DIF Account

City Council Meeting On Polar Park September 22

 Click here for the link

KUDOS to Colorio-Russell-Bergman!!

One of the things we had pointed out was that there was no agreement in the council agenda last night.   Evidently this was passed out to the Councilors before the meeting, but we do not have a copy....       

44:00  - 48:00  minutes

Councilor Russell asks great question.   Wants to look at 

  1. original agreement
  2. amendment this past January
  3. the current amendment

Ask the City to put together a "Reader's Digest" version of the three drafts.  How has the plan has changed and what has the City gained/given up.    Great question!!!!

48:00  -   52:00 Minutes

Councilor Colorio asks if the Letter of Understanding that, was not part of the on-line City Council attachments, that was passed out before meeting is binding.     Little confusing, since the question was not answered, but best we can tell is that the most current agreement that was passed out before the council meeting is not binding.  

In other words, there still is no Private Development Agreement (PDA).

55:30  -   57:00 Minutes

Councilor Bergman asks about any penalties.    Something that we would have expected in a Private Development Agreement.    

Answer is that legal remedies will be in the LDA (Land Disposition Agreement), which we should see in the next few weeks.     Great job Councilor Bergman... 

Bottom line:

1) We look forward to the reader's digest that Councilor Russell asked for.

2) Current Agreement that was passed out before meeting does not look to be "binding".   At this point, we do not expect to ever see a binding PDA, only Letters of Understanding.

3) Instead of a PDA, we will be seeing an LDA.  Very important to see what "legal remedies" are included in the LDA, which will be binding.