Laserfiche WebLink
<br />MRS. ZEHM: No, I have not received any. <br /> <br />MAYOR WOODBURN: I will open the public hearing. The <br />developer is here if you would to make any comments. <br /> <br />. <br /> <br />MR. CURT LAUGHINGHOUSE, Derrick Land Company: We did <br />petition for the improvements within Arden Oaks and we do hope <br />they will be improved and put upon the program for next summer <br />and be financed as a public improvement, as we have requested. <br />One thing I was surprised at, and it's not a great deal, but <br />I was surprised at the size of the section and I guess I need <br />to ask Mr. Christoffersen - the size of the road section - is <br />that 34 feet back to back or inside the faces? <br /> <br />MR. CHRISTOFFERSEN: Face to face. <br /> <br />MR. LAUGHINGHOUSE: So it's even greater, 35 feet perhaps, <br />back to back. When I say back to back, I mean back of curb to <br />back of curb. <br /> <br />MR. CHRISTOFFERSEN: Back of curb - it would be closer to <br />35, 35 1/2. <br /> <br />MR. LAUGHINGHOUSE: That's just a bigger section than <br />what I'm accustomed to, but if that's the City standard, that's <br />just fine. Mr. Popovich did refer to the terms of assessment. <br />That is, whether its 15 years or three or five or otherwise. <br />We would prefer longer assessments - it makes it much more <br />reasonable for - of course, this will be settled next fall. <br />As you can imagine, these lots will not necessarily sellout <br />immediately, and the better terms that can be available, the <br />easier it will be on the ultimate consumer of the lots. Other- <br />wise, I'd be glad to answer any questions. <br /> <br />. <br /> <br />MR. POPOVICH: On that point, he indicated he could wait <br />with the development agreement until the assessment hearing. <br />From our point of view, assuming we sell bonds in a month or <br />two, if you're going to have a development agreement, we <br />should know that now, because in the bond prospectus that goes <br />out we could then indicate that there would be some $466,000.00 <br />of $648,000.00 that would be paid over a three to five year <br />period because of the terms of the development agreement. <br />That affects whether we go with long term financing or short <br />term financing because obviously, if the people who are going <br />to bid on the bonds know that so much of it is going to be <br />paid within a certain period of time - that's going to affect <br />your interest rates. So we can't wait until the' assessment <br />hearing next fall. That's something that the Council and the <br />attorney and the developer should get together on before we <br />advertise for bond bids. I just wanted to say that so Curt <br />would know where I come from right now, not next year. <br /> <br />MR. LAUGHINGHOUSE: I didn't realize that. We'd be happy <br />to work that out. <br /> <br />4 <br />