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<br />Revitalization Commission <br />Minutes <br />DATE <br />Page 2 of 3 <br />therefore recused himself for this item and left the <br />room. Discussion revolved around what type of fiscal <br />analysis would be conducted. The LRC directed staff <br />to provide a RFP for review at the next meeting. Staff <br />reported that there is $20,000 remaining from the <br />EPA Brownfields grant which would provide some of <br />the funding for such a study. Additional dollars would <br />require a supplemental budget request and Council <br />approval. <br />3. 2008 Budget Request - Several specific line items <br />considered by the LRC for inclusion in the 2008 <br />Budget request were staffing, consulting, and legal <br />services. Commissioners also discussed making City <br />Council aware that any City funds utilized by the LRC <br />would be re-paid to the City following the flow of <br />increment revenues. <br />4. Discussion/Direction/Action - Public Finance <br />Counsel Services - LRC approved an engagement <br />letter to engage Sherman and Howard as bond/public <br />finance counsel. Sam Light stated that he wanted to <br />obtain from bond counsel an opinion regarding the <br />interpretation of the State Statute pertaining to when <br />an election on the proposed transfer of an existing <br />authority should occur. Counsel will provide an <br />update at the July meeting. <br />5. Next Meeting Items 1) Discussion on BID Letter 2) <br />Discussion of 2008 Budget Line-Items Request 3) <br />Discussion of RFP for Market and Economic Analysis <br />of the Transit Area 4) Discussion of Public Finance <br />Counsel Services 5) Discussion of an Issue Pamphlet <br />pertaining to the proposed Initiative. <br />6. Next Meeting Date - July 9, 2007 beginning at 6:30 <br />PM <br /> <br />Commissioners' Comments - Nothing to report. <br /> <br />Adjourn - The meeting was adjourned at 8:00 PM. <br />