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05-16-2000 CRA Meeting ,t� CITY OF CLERMONT t, ) MINUTES COMMUNITY REDEVELOPMENT AGENCY—SPECIAL MEETING MAY 16, 2000 Page 1 A Special Meeting of the Community Redevelopment Agency of the City of Clermont was held May 16, 2000 at the Police Department and was called to order at 6:15 p.m. with the following Members in attendance: Mayor Turville, Council Member Biddle, Council Member Mullins, Council Member MacLauchlin, Elaine Hyatt Barton and Gordon Halgren. Also present was City Manager Saunders. Council Member Lamb was absent. City Manager Saunders stated that the purpose of this Special Meeting of the CRA was to discuss the possible purchase of the property located on the corner of DeSoto Street and 7th Street for an additional parking lot for the Central Business District Mr. Saunders stated that parcel is 20,000 square feet and the appraisal came in at $130,000 and the owners will sell it for the appraised pnce. Mr. Saunders stated they have agreed to accept a$40,000 down payment and will hold a note for the balance for 5 years at 10%interest, with no penalty if paid off early. Mr. Saunders stated that the City or the CRA would be able to go out and shop for a better interest on the loan. Mr. Saunders stated there is a little over$48,000 in reserves in the CRA Fund that is not (*) appropnated and the projection for this year is to receive a little over$50,000. Mr. Saunders stated that if the CRA Board approves this purchase, the Agreement To Purchase will be included in the City's grant application and will give us additional points. Mr. Saunders stated the property is unimproved other than being mulched and having the 5-foot landscape buffer. There was considerable discussion by the CRA Board Members regarding the purchase of the property to use as additional downtown parking. A motion was made by CRA Board Member Halgren, seconded by CRA Board Member Barton and carried unanimously, to recommend that the City Council enter into a contract to purchase of the property located on the corner of DeSoto Street and 7`h Street for a downtown Clermont municipal parking lot with the following terms• Purchase Price $130,000; Down payment-$40,000; Seller to hold note for the balance at 10% interest for 5 years The City will seek competitive financing. There being no further business the meeting was adjourned. ayor Harold S. Turville, Jr. J Attest: J h E. Van e, City Clerk