COMMUNITY DEVELOPMENT AUTHORITY

SPECIAL MEETING

JULY 24, 2002

6:30 P.M.

CITY HALL

The regular meeting of the Community Development Authority was called to order by Chairman Ken Jaeger at 6:30 p.m. with the following in attendance: Chairman Ken Jaeger, Mr. Bil Scherrer, Ms. Lynn Gruenke, Mayor Claude Lois, Mr. Jim Peterson and Alderman Robert Miller. Mr. Jim Spiegelhoff was excused. Also attending were City Administrator David Torgler, RCEDC Representative Ms. Jenny Trick, Alderman Tom Vos, Alderman Peter Hintz, Alderman James Beardsley and Mr. David Wagner, Senior Vice President of Ehlers & Associates.

None

A motion was made by Mayor Lois to table the Notice of Award for the "Asbestos Abatement and Building Demolition for 320 West Chestnut Street and 140-142 East Jefferson Street" until the next regular meeting. The bids from the July 22^nd bid opening are still being reviewed. Mr. Jim Peterson seconded the motion and with all in favor the motion carried.

Ms. Jenny Trick of RCEDC gave a presentation regarding the budget for the Riverfront Development and distributed detailed spreadsheets on all the projects.

Mr. David Wagner of Ehlers discussed the balance of the project funds that must be paid out to an escrow agent if those amounts are to be considered as expenditures of the TID and therefore recoverable through future tax increments.

Mayor Lois made a motion to direct Ehlers & Associates to gain quotes from escrow agents (that is also to include local escrow agents) for the balance of the project funds. Mr. Jim Peterson seconded the motion and with all in favor the motion carried.

The next regular meeting of the CDA will be on Thursday, August 8, 2002 at 6:30 p.m. The August 1^st, 2002 regular meeting will not be held due to a lack of quorum.

Mr. Bil Scherrer made a motion to adjourn the meeting. Ms. Lynn Greunke seconded and with all in favor the meeting adjourned at 7:50 p.m.

Respectfully submitted,

Beverly R. Gill

Clerk

City of Burlington