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City of Centerville <br />Council Meeting Minutes <br />March 11, 2009 <br />3. Consideration of Request for Proposals -Financial Consultant Services -Block 8 <br />Development <br />City Administrator Larson explained this involves the bond issue for the 2009 Street <br />Project and assisting the City with TIF for the Downtown Redevelopment area and the <br />acquisition of property in Block 8. <br />Motion by Council Member Paar, seconded by Council Member Fehrenbacher, to <br />approve the Request for Proposals, Financial Consultant Services, Block 8 <br />Development. All in favor. Motion carried unanimously. <br />4. Rick Carlson, Hunter's Crossing Third Addition, Letter of Credit Reduction. <br />City Administrator Larson distributed information on the request from Rick Carlson, <br />Hunter's Crossing Third Addition developer, who has requested a letter of credit <br />reduction. He stated that Mr. Carlson is suggesting that much of the work is done and the <br />amount should be $295,000. City Administrator Larson stated that this looks reasonable <br />and commented there is nothing of concern outstanding. <br />Councilmember Paar commented that he wanted to be guaranteed that the City is 100 <br />covered. <br />City Administrator Larson explained how fees are collected, specifically item j on the <br />request. <br />City Engineer Statz commented that in his experience this is conservative. <br />Motion by Council Member Broussard Vickers, seconded by Council Member Paar, <br />to approve the reduction in the Letter of Credit to $300,000 per the <br />recommendation of City staff. All in favor. Motion carried unanimously. <br />5. Request to Pursue PFA Funding -Green Project Reserve <br />City Engineer Statz provided a summary of the PFA funding, Green Project Reserve, <br />submittal process. He further explained the project tasks and the costs associated with <br />two projects, the Downtown Area drainage system and the 2009 Street Project. He <br />requested that Council gives approval to pursue potential funding under this program. <br />Mayor Capra stated that it would be prudent to first move forward with the 2009 Street <br />project. <br />Councilmember Paar agreed with Mayor Capra. He commented that the potential for <br />$400,000 (($300,000 Loan and $100,000 Grants) is significant. He stated that there could <br />be other grants and money available from the stimulus package. <br />Page 4 of 6 <br />