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01-26-88 373 JANUARY 26, 1988 A Regular Meeting of the City Commission of the City of Delray Beach, Florida, was called to order by Mayor Doak S. Campbell in the Commission Chambers at City Hall at 7:05 P.M., Tuesday, January 26, 1988. 1. Roll call showed: Present - Commissioner Richard J. Dougherty Commissioner Marie Horenburger (Arrived 7:08 P.M.) Commissioner Mary McCarty Mayor Doak S. Campbell Absent - Commissioner Jimmy Weatherspoon Also present were - City Manager Walter O. Barry and Assistant City Attorney Jeffrey S. Kurtz. 2. The opening prayer was delivered by Reverend Gerald Dingman, Pastor of the Cason United Methodist Church. 3. The Pledge of Allegiance to the flag of the United States of ~merica was given. 4. Presentation - Delray Quilters Guild. The President of the .Delray Quilters Guild presented a quilt in appreciation to the Community Center and stated it will be placed there for future sale. Any proceeds derived from the sale will be given to the Community Center. 5. Mrs. Horenburger moved to approve the agenda, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. CONSENT AGENDA The following items were considered by the Commission as the Consent Agenda: 6. Ratification of South Central Regional Wastewater Treatment and Disposal Board Action of January 20, 1988. The Commission is to consid- er ratification of SCRWTD Board action awarding contract to the low bidder, Q&Q Contractors for air scrubbers in the amount of $617,600 ($308,800 to be paid by the City). Approval is recommended with the City funding its $308,800 share from retained interest earnings on the 1987 Water and Sewer Bond Fund. 7. Nuisance Abatement. Resolution No. 6-88, assessing costs for abating nuisances by removing 14 junked and/or abandoned vehicles, is before the Commission for consideration. The caption of Resolution No. 6-88 is as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, PURSUANT TO CHAPTER 14 OF THE CODE OF ORDINANCES OF THE CITY OF DELRAY BEACH, ASSESSING COSTS FOR ABATING NUISANCES BY REMOVING JUNKED AND/OR ABANDONED VEHICLES WITHIN THE CITY OF DELRAY BEACH; SETTING OUT ACTUAL COSTS INCURRED BY THE CITY TO ACCOMPLISH SUCH ABATEMENT AND LEVYING SAID COSTS; PROVIDING FOR AN EFFECTIVE DATE AND FOR A DUE DATE AND INTEREST ON ASSESS- MENTS; PROVIDING FOR THE RECORDING OF THIS RESOLUTION, AND DECLARING SAID LEVY TO BE A LIEN UPON THE SUBJECT PROPERTY FOR UNPAID ASSESSMENTS; PROVIDING FOR THE MAILING OF NOTICE OF LIEN. (Copy of Resolution No. 6-88 is on file in the official Resolu- tion Book) 374 8. Nuisance Abatement. Resolution No. 7-88, assessing costs of '~bating nuisances in accordance with Section 13-13 on 40 parcels, is before the Commission for consideration. The caption of Resolution No. 7-88 is as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, PURSUANT TO CHAPTER 13 OF THE CODE OF ORDINANCES OF THE CITY OF DELRAY BEACH, ASSESSING COSTS FOR ABATING NUISANCES UPON CERTAIN LAND(S) LOCATED WITHIN THE CITY OF DELRAY BEACH; SETTING OUT ACTUAL COSTS INCURRED BY THE CITY TO ACCOMPLISH SUCH ABATEMENT AND LEVYING THE COST OF SUCH ABATEMENT OF NUISANCES; PROVID- ING FOR AN EFFECTIVE DATE AND FOR A DUE DATE AND INTEREST ON ASSESSMENTS; PROVIDING FOR THE RECORDING OF THIS RESOLUTION, AND DECLARING SAID LEVY TO BE A LIEN UPON THE SUBJECT PROPERTY FOR UNPAID ASSESSMENTS; PROVIDING FOR THE MAILING OF NOTICE OF LIEN. (Copy of Resolution No. 7-88 is on file in the official Resolu- tion Book) Mrs. Horenburger moved for approval of the Consent Agenda, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. REGULAR AGENDA 9. Temporary Office Trailer - Fire Department. The Commission is to consider award of a 30 month agreement to Gelco Space of Delray Beach in the amount of $20,239 for the rental of a temporary office trailer to be located at Fire Department Headquarters to house the Fire Prevention Bureau, Training Division and the Emergency Medical Service Division, with funds to come from the 1987-88 budget. Approval is recommended. Mr. Dougherty moved for approval, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 10. Enclave Report. The Commission is to consider a request for authorization to proceed with implementation of the "Enclave Report" in the amount of $24,000. Approval to create a temporary, part time para legal position in the Planning Department to process enclave annexa- tions, allocating $24,000 from the Commission's contingency account for partial year funding, and directing that Enclaves designated as "A" and "B" in the Enclave Report be procured as soon as practicable, is recom- mended. Mr. Dougherty moved for approval, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. Before roll call the following discussion was had: Mrs. McCarty stated under alternative actions, there are three options along with three determinations that can be made. One is the formal acceptance of the report and its forwarding to the County Commis- sion and she is prepared to accept the report tonight. The second is the determination of the timing of the problem enclaves and the third is determination regarding notice requirements. She suggested putting these items on a workshop or possibly discussing and making decisions tonight. Mrs. Horenburger questioned the allocation of funds from the Commission's contingency account. The City Manager stated there is an adequate balance in the account. Mr. Dougherty stated the intent of his motion was the formal acceptance of the report and its submission to the County Commissioners. -2- 1/26/88 375 At this point the roll was called to the motion. Mr. Dougherty stated, with reference to the problem enclaves, he feels the delay of the more difficult ones until late in 1989 is unnecessary and will only create more approval requirements. The City Manager stated approval of this action in no way implies a delay of the implementation of the Enclave Act. It allows the forward movement and the identification of Enclaves "A" and "B" which presently have water and sewer service in addition to other amenities that might not otherwise be allowed. Mr. Kovacs, Planning Director, stated the main action sought now is to proceed and the authorization to go ahead with the "A's" and "B's". At the time the Commission wishes to workshop the problem enclaves a date will be chosen to proceed. This funding is through October 1st, both for the position and the advertising. It is the intent to have all the properties annexed by March of 1989. Mr. Dougherty questioned if this can be accomplished in 1988, rather than extending it into 1989. Mr. Kovacs stated the last eight enclaves are the problems and will take a longer time with regard to the hearings. Another concern is the cash flow as the revenues will not be received until October of 1989. If the Commission so directs, they can be moved up with the "A's" and "B's". The City Manager suggested Staff prepare an implementation schedule which addresses the consensus established tonight. Mrs. McCarty questioned the action of the notice requirements. 'The City Manager stated the para legal staff will be taking care of that. Mr. Kovacs stated they would request a code amendment to delete the posting requirement on each parcel of property. If it is the consensus of the Commission they will request the City Attorney to prepare a first draft. The Commission concurred. Mrs. Horenburger moved to authorize the transfer of $24,000 from the Commission's contingency account to pay the salary for the balance of this fiscal year for a part time temporary position to process the enclave annexations, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor .Campbell - Yes. Said motion passed with a 4 to 0 vote. 11. Site Plan Modification - Waterford Village. The Commission is to consider a request for a major modification to the site plan of the proposed Waterford Village, located on Audubon at Dotterel. Planning and Zoning Board recommend approval. Alan Ciklin, Attorney representing the developer, stated the site plan is a modification of Delint Center, which was approved approx- imately two years ago. Some of the modifications include reducing the dwellings from three story to two story units, relocating the units so there are more water views as well as moving them further from the busy thoroughfares and a change of the recreational facilities. Mrs. Horenburger questioned if this plan was reviewed in relation to the site plan that exists on the balance of the property. Mr. Ciklin stated the drainage plan was reviewed in light of the other portion of the Waterford complex. Upon question by Mrs. McCarty, Mr. Ciklin stated the amenities package will consist of one swimming pool, a jogging trail, two tennis courts, a racket ball court, and a clubhouse with a full scale gym equipped with nautilus and exercise type facilities. Mrs. McCarty questioned the market for the project. Mr. Ciklin stated there is 800,000 square feet of office space, which will probably produce nearly 5,000 employees. These young professionals can work and live in the same area. -3- 1/26/88 376 Mr. Dougherty expressed an interest in the drainage system and questioned the extent of the developer's in-hand approvals from South Florida Water Management District. The conceptual drainage plan has been submitted to the City Staff and approved and also to the South Florida Water Management District. As he understands the procedure, it is not possible to have the final drainage approval until the site plan has been approved. Mr. Kovacs stated there is a drainage permit and program in place for existing work that has been done. The first approved site plan had approval from South Florida Water Management District. The new road system, water system, sewer system and the excavations for the lake have all been put in under the original Delint Plan. The plans they are working on now are a modification to that previously approved site plan. Their planting plans need to be submitted and approved. Upon question by Mr. Dougherty, Mr. Kovacs stated the South Florida Water Management District approves the lake area, and the City Engineer's office approves the onsight drainage plans. Mrs. McCarty moved to approve the site plan major modification subject to the report of the Planning Director, seconded by Mrs. Horenburger. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 12. Appointment - Public Employees Relations Commission. The Commission is to consider appointment of a regular member to PERC to a term ending March 13, 1992. Mrs. Horenburger moved to approve the appointment of Martin Frost as a member to Public Employees Relations Commission, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 13. Appointment - General Employees Retirement Fund Committee. The Commission is to consider appointment of a member to the General Employ- ees Retirement Fund Committee. Mrs. McCarty moved to approve the appointment of William Plum as a member to the General Employees Retirement Fund Committee, seconded by Mrs. Horenburger. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 14. Appointments - Code Enforcement Board. The Commission is to consider appointment of a subcontractor-plumber (regular member), a real estate person (regular member) and a general contractor (regular member) to terms ending January 14, 1991. Mrs. McCarty moved to approve the appointment of David Cohen to fill the position of a real estate person (regular member) to the Code Enforcement Board, seconded by Mrs. Horenburger. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. Mrs. Horenburger moved to approve the appointment of Rome Renna as a general contractor (regular member) to the Code Enforcement Board, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 15. Housing Pro~ect Proposal - Palm Beach Housing Partnership, Inc. Resolution No. 8-88, endorsing affordable housing project proposal of the Palm Beach Housing Partnership, Inc., and requesting County donation of land for this purpose, is before the Commission for consideration. The City Manager presented Resolution No. 8-88: -4- 1/26/88 377 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, ENDORSING A JOINT PROPOSAL BETWEEN PALM BEACH COUNTY HOUSING PARTNERSHIP INC., PALM BEACH COUNTY, AND THE CITY OF DELRAY BEACH, TO CONSTRUCT FOR SALE, AFFORDABLE, SINGLE FAMILY HOMES ON 8.89 ACRES OF COUNTY OWNED LAND LOCATED AT SOUTHWEST 2ND STREET AND SOUTHWEST 10TH AVENUE IN DELRAY BEACH, REQUESTING CONVEYANCE OF SAID COUNTY OWNED LAND, PROVIDING FOR MAKING FUNDS AVAILABLE, PROVIDING FOR AN EFFECTIVE DATE. (Copy of Resolution No. 8-88 is on file in the official Resolu- tion Book) The City Manager stated Resolution No. 8-88 has been revised and noted the revisions that have been made. A representative for the Palm Beach County Housing Partnership, Inc., confirmed they are a private, non-profit organization. The initial administrative funding was received from the Board of County Commissioners. Their main concern is providing affordable housing throughout Palm Beach County. In this particular instance, their plan is to construct and offer for sale three bedroom, two bath homes to qualified residents who fall within an annual income of $26,000 to $32,000. The 33 residences will be built on a parcel of land currently owned by Palm Beach County. Mrs. Horenburger moved for the adoption of Resolution No. 8-88, as modified and presented, seconded by Mr. Dougherty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 16. Ordinance No. 1-88 - Rezonin~ Classification - Old School Square. Ordinance No. 1-88, relative to the rezoning classification and designation of the Old School Square to a Historical District, is before the Commission for consideration on First Reading. If passed, Public Hearing will be held February 9, 1988. Mayor Campbell left the Commission Chambers at this time and Vice-Mayor Horenburger took the chair. The City Manager presented Ordinance No. 1-88: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DELRAY BEACH, FLORIDA, DESIGNATING AN AREA BOUNDED ON THE WEST BY N.W. AND S.W. lST AVENUES, ON THE SOUTH BY S.E. AND S.W. 2ND STREETS, ON THE EAST BY N.E. 1ST AVENUE, S.E. lST AVENUE AND THE ALLEYS IN BLOCKS 74, 75 AND 76, TOWN OF LINTON PLAT, AND BY N.E. AND N.W. 4TH STREET ON THE NORTH, AN HISTORIC PRESERVATION DISTRICT; AMENDING ZONING MAP OF DELRAY BEACH, FLORIDA, 1983; PROVIDING AN EFFEC- TIVE DATE. The Assistant City Attorney read the caption of the ordinance. Mrs. McCarty moved for the adoption of Ordinance No. 1-88. The motion died for lack of a second. Assistant City Attorney Kurtz advised this ordinance has been classified as a rezoning and technically, it is an overlay zoning and the underlying zoning on the property will remain the same. However, it will be necessary to go through the Historic Preservation Board and comply with the Historic District ordinance. Discussion followed relative to the boundaries of the property involved. Upon question, Mr. Kovacs clarified that certified notices were mailed to concerned property owners. The Historic Preservation Board made their findings, filed their report and held their public hearing. Following the public hearing they prepared a recommendation for the City Commission to enact the Old School Square Historic District. The process then continues with the enactment of the Ordinance. -5- 1/26/88 378 Clemmer Mayhew, 710 N.E 2nd Street, stated there were no objections from the public at the hearing. Upon question by Mrs. McCarty with regard to the procedure followed, Mr. Kovacs stated the Historic Preservation Board must make a finding of appropriateness that the activity being carried out is in keeping with the district. Assistant City Attorney Kurtz stated there is an appeal process to the Commission. He also stated this is an overlay district and does not affect the underlying zoning. Mayor Campbell returned to the Commission Chambers at this time. Mrs. Horenburger stated she feels it needs to be explained more clearly what the act of rezoning does or does not do. Mr. Kovacs stated they will prepare a cover memo to refresh the Commission. Upon question by Mrs. Horenburger if this affects the underlying zoning, Mr. Kovacs stated it does not affect the use, but puts it in the zoning book in the Historic criteria. Assistant City Attorney Kurtz advised it is the same procedure that was used in the Nassau Street designation. Mayor Campbell stated he is in favor of adding additional restrictions, particularly in this area. This will add another level of control, where the inner City can be preserved and protected in order that that kind of misuse can thwart future efforts. When the Board was established, it was discussed at great length in order that the public might be aware of the ramifications. Mr. Dougherty stated it is diffi- cult for him to believe not a single objection was lodged for such an extensive area. Mrs. Horenburger suggested a second certified letter be mailed to each property owner in the event it was misunderstood or the person was unable to attend. The City Manager confirmed there could be a courtesy mailing from the list developed in the City Manager's office. Mrs. Horenburger moved to adopt Ordinance No. 1-88 on First Reading, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - No; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 3 to 1 vote. PROCEDURAL ITEMS 17. There were no Non-Agenda Items by Citizens. 18. Mrs. Horenburger moved to approve the minutes of the Regular Meeting of January 12, 1988 and Special Meetings of December 22, 1987, 7anuary 5, 1988 and January 15, 1988, seconded by Mr. Dougherty. Upon ~'oll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 19.a.1. Mrs. Horenburger stated she met with Dr. Ed Eissey of Palm Beach Junior College, Ken Simback of Community Redevelopment Agency and several others working on the Pineapple Grove area regarding N. E. 2nd Avenue to discuss considering the use of some of the vacant buildings being used on the campus of Palm Beach Junior College. In South County and Central County students have been turned away due to lack of space. With everyone's approval and possible grants to be of some assistance they will assess their needs to determine how best to incorporate some of their programs. 19.a.2. Mrs. Horenburger expressed her delight with regard to the grant writing of the Old School Square, as approval was apparently granted for an Arts Grant in the amount of $100,000. Hopefully that can be included in the legislative package and our lobbyist can be urged to lobby for that. 19.a.3. Mrs. Horenburger stated negotiations are still in progress relative to the parking lot of the Delray Swap Shop and, hopefully, that problem will be resolved soon. -6- 1/26/88 [,- 379 19.a.4. Mrs. Horenburger stated a voter needs to be designated for the League of Cities Meeting next week. She nominated Mr. Weatherspoon as the voting member for that meeting. Mayor Campbell stated he is giving a report and will be available to serve as the voting member, but suggested that Mr. Weatherspoon might be an alternate member. Mrs. Horenburger moved to approve Mr. Weatherspoon as an alternate voting member for the League of Cities Meeting, seconded by Mrs. McCarty. Upon roll call the Commission voted as follows: Mr. Dougherty - Yes; Mrs. Horenburger - Yes; Mrs. McCarty - Yes; Mayor Campbell - Yes. Said motion passed with a 4 to 0 vote. 19.a.5. Mrs. McCarty stated she has spoken with the Assistant City Manager with reference to Pineapple Grove Way designating N.E. 2nd Avenue above the Street Sign and he plans to speak with the Engineering Department. 19.a.6. Mrs. McCarty stated there were lights on in the Howard Johnson Restaurant, the boards were removed and, hopefully, they will reopen soon. 19.a.7. Mrs. McCarty stated she would like to reiterate Mrs. Horenburger's statement that negotiations are still in progress with regard to the Swap Shop and she is hoping something will happen soon. 19.a.8. Mr. Dougherty stated having been a full time supporter of the Elementary School Property Redevelopment, he would like to express his thanks to the group that received the Grant. He also suggests that at the next workshop meeting the City might consider matching the amount of .the Grant. Mayor Campbell reminded the Commission that the $100,000 was an increase; the total amount of the Grant is to be $531,000. Mr. Dougherty stated he feels the way Grants are obtained is to show that the City is willing and able to support the arts and culture. The people applying must have conveyed to the persons making the judgement that the City is behind them 100%. Mrs. Horenburger stated she agrees with Mr. Dougherty and had planned to suggest in the future that a matching grant be established. She would like to see the private sector and the public get involved and attempt to match an amount the City would give. The City Manager questioned if the Commission would like the item to be added to the Capital Improvement Program Agenda of the Workshop of February 16, 1988. The Commission concurred. 19.a.9. Mayor Campbell stated with regard to the Capital Improvement Program, he is looking forward to the workshop and having all the items clearly set forth as to action in both short term and long term. He has met with the City Manager relative to goals and objectives. He suggest- ed that each Commissioner submit to the City Manager an update on items of particular interest to them. For an example, he noted the extension of S.W. 4th Avenue, approved in concept, to link with Dotterel Road to ease traffic congestion and nothing has been heard for over six months. The City Manager stated the City Consultant, Jim Mercer, built into his fee, a goal setting session with the City Manager and the City Commission. He feels it might be appropriate to focus on the Goals and Objectives, apart and separate from the Projects and Programs. In the Capital Improvement Program he hopes to show the Commission what projects are in place, funding levels available, bid award and comple- tion dates, projects planned and funded and to provide a listing of Capital Improvement projects which are planned, but not funded, and some recommended time lines over a five year period. Those will be broken out into Streets and Drainage, Public Buildings, Utilities, Leisure Services Facilities and Miscellaneous Projects. In this way the Commis- sion can stay on top of the current year budget and better choose the direction in terms of prioritizing for future years while continuing to keep the Goals and Objectives session separate. Mayor Campbell stated he is suggesting that where this Commis- sion has either taken a vote, or by consensus, accepted a program or a -7- 1/26/88 380 project, that this Commission should have received a flow back of information so as to better respond to the citizens of the City. The City Manager stated if a Commissioner finds the workshop agenda does not show an item requested for discussion, those are items that need to be picked up and at least identified or prioritized. It is possible there was no funding allocated or identified. Mrs. McCarty stated at the Directions '88 Event the public will have an opportunity to voice an opinion as to their choices of community improvement or betterment. She feels shortly thereafter, the Commis- sioners should have a workshop or goal setting session with the City Manager and Mr. Mercer and use the ideas submitted by the public to establish a number of goals to be used as performance standards for the City Manager. Mrs. Horenburger stated the priorities are set at the DireCt- ions Conferences relative to building a consensus as to the needs; that is when a decision is made as to the wants of the Community. Mr. Dougherty stated he feels Direction '88 should be aware of the goals and objectives of the elected officials to be used as a guideline. Mrs. Horenburger stated the Project update will reflect what has been done, what is currently being done and what is yet to be done. The City Manager stated in terms of the time frame, he feels there will be a proposed budget to compare the consensus items arrived at during the Directions '88 event. There will be input of goals and 'objectives direction, whether it be Administrative or Commission, at the time the budget is prepared. The proposed budget will be submitted to the Commission in July. Most of the preliminary staff work will have been done by late May and the conference will have the benefit of what the City sees as important. If modification is needed, there is ample time during the formal hearing process to take care of that. 19.b. There were no Non-Agenda Items from the City Attorney. 19.c. There were no Non-Agenda Items from the City Manager. Mr. Simback, representing the CRA, presented a brief update relative to the UDAG Grant. He stated, as discussed yesterday at the emergency meeting, the Department of Housing and Urban Development has extended to the City an offer of a grant. The City would in turn loan this to the developer, who would agree to repay the $5,000,000 at a 3% interest rate on a 25 year amortization schedule. The major difference in the agreement at this point, is that HUD is demanding what is called a "kicker". This means that at any point in the process when the de- veloper either syndicates it, sells it, resells it, or whatever, until all the outstanding UDAG obligations are met, he is required to share with the City 40% of the net proceeds. The bottom line is, after totaling the payment of principal and interest on the $5,000,000 portion the Federal Government would be granting to the City and at the end of 15 years under the formula they have presented to us, that alone will net the City $7,335,960 plus some participation in future positive cash flows and the proceeds of the syndications. Mayor Campbell declared the meeting adjourned at 8:30 P.M. ATTEST: -8- 1/26/88 i Ii~ ! III II i ~ 381 The undersigned is the City Clerk of the City of Delray Beach and that the information provided herein is the minutes of the meeting of said City Commission of January 26, 1988, which minutes were formally approved and adopted by the City Commission on~. ~,. /~;; . yCity'Clerk NOTE TO READER: If the minutes that you have received are not completed as indicated above, then this means that these are not the official minutes of City Commission. They will become the official minutes only after they have been reviewed and approved which may involve some amendments, additions, or deletions to the minutes as set forth above. -9- 1/26/88