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ARDEN HILLS CITY COUNCIL - AUGUST 27, 2007 6 Mayor Harpstead asked about moving the deadline to April 1st, rather than the February 1st date. Ms. Wolfe stated a discussion was not held regarding a later date, so it was unclear how the parties would react to a different date. MOTION: Counci1member Holden moved and Counci1member Grant seconded an amendment to the above motion extending the date to July 1, 2008. Mayor Harpstead asked who had suggested the February 1, 2008 date. Ms. Wolfe stated that the various parties discussed timing and reached consensus that it was a realistic date. This was based on the schedule for completing the remedial investigation and receiving results, beginning negotiations, and considering the holidays. Councilmember Grant stated as this process was started there were many reasons the GSA had that items like this could not be extended. In the past if something went more than 90 days, appraisals were out of line and now it appears not to be a problem pushing out the date. Mayor Harpstead stated this protects the City against rescission. Councilmember McClung stated there is something to be said for extending the date and saying this will be the final amendment. He is very conflicted on this issue and does not know how he would vote on the amendment. Councilmember Holden asked if negotiations have started regarding the credits. Ms. Wolfe stated there have been some very preliminary discussions, including discussion about the water treatment facility, but negotiations regarding the dollar amount have not started. Ms. Wolfe stated there was a discussion among the parties about what would be a realistic date. She does not know if all negotiations can be completed at by February 1, but all believed it was a realistic goal. Councilmember Holden stated a Preliminary Development Agreement was completed some time ago and she noted how long that took for negotiations and finalization. She stated that the negotiations regarding the cost for clean-up involve a lot more money and lengthier negotiations. Councilmember Holmes asked if the closing date can be made more definitive and whether this can be built into the future discussions. Ms. Wolfe stated the offer to purchase document does not include a specific closing date. Currently they are striving toward a July 2008 closing. Councilmember Holmes suggested the time1ine be updated. Councilmember Grant stated there are a number of players involved (GSAlARMY/City/RRLD) and he shares Councilmember McClung's frustration that this is dragging on. He believes the City needs to make a statement and stand behind this last extension but if all work is completed by February 1, 2008, that would be fantastic. He stated he does not have a problem with extending to July 1, 2008. Mayor Harpstead stated there is an assumption GSA accepts the extension to July 1, 2008 and there could be a risk the City would lose its right of rescission.