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Revitalization Commission <br />Minutes <br />October 13, 2014 <br />Page 6 of 7 <br />DeJong discussed a resolution approving a second amendment to the <br />Cooperation Agreement between the City and the LRC. This resolution should be <br />numbered Resolution No. 14 -04. <br />The agreement was prepared for funding assistance for the City to construct the <br />South Street Gateway project. The original agreement was set to terminate if the <br />City had not executed a construction contract with BNSF Railroad by April 1, <br />2014. A first amendment to the Agreement was approved on March 18, 2014 to <br />extend the automatic termination date to November 1, 2014. <br />This second amendment removes the automatic termination date due to not <br />having a construction agreement with BNSF Railroad and clarifies the LRC does <br />not need to make payments outlined in the IGA until construction of the project <br />begins. <br />City Manager Fleming said staff is pushing BNSF as much as possible. Recently <br />we have gotten a little movement. Don't want to exercise political option too <br />early. <br />Deputy City Manager Heather Balser said other municipalities have issues <br />getting responses from BNSF. <br />City Manager Fleming said he believes an agreement will happen. <br />Commissioner Menaker said we have to trust staff and he is in full support of this <br />amendment. <br />Commissioner Menaker made a motion to approve the Resolution. <br />Commissioner Tofte seconded the motion. <br />Chair Becker said he would like clarity that if 2 years from now we don't have <br />agreement, how do we make sure we don't have obligation that would preclude <br />us from doing something else. <br />Attorney Light said the City has money designated too; LRC and City would have <br />to cancel agreement. Could do outside drop dead date. In practical terms that is <br />already set up. <br />Motion approved. <br />d. 2015 LRC Draft Budget <br />DeJong included the LRC budget sheet from the 2015 City Council <br />recommended budget. Budgeted revenues are $364,440 and expenditures of <br />$467,800. LRC will approve the 2015 budget at the December meeting. <br />7 <br />