Laserfiche WebLink
have seen letters that have gone out to certain <br />individuals. I do not view those letters to be the <br />agreements referred to. I think there is an issue <br />as to whether an agreement exists from 1987 and I <br />think there would be some legal question as to the <br />proper authority if an agreement exists and was it <br />entered into a proper authorized fashion. <br />Davidson: I think the City for some seven years has tried to <br />work with this developer and each time, whether by <br />letter or by verbal agreement or by something the <br />developer agreed to do things that were not done. <br />I think it would be foolish for us to give him one <br />more chance. To release to him $89,000 in return <br />for $50, 000 Letter of Credit when there is <br />$100,000 worth of work that needs to be done, <br />seems to be foolish on the part of the city. I <br />think what we need to do is give the City Attorney <br />a little more time to look at these letters, <br />determine if litigation is warranted and if it is <br />I think that is the step we should move toward. I <br />have no faith that this developer will hold up <br />with any of his agreements. <br />Hornbostel: As far as alternative one, there have been a <br />couple of comments about bankruptcy and that type <br />of thing. If and when the developer should be <br />bankrupt how does that affect our other written <br />agreements? <br />Griffiths: If in fact the subdivider who is responsible under <br />the agreement is in danger of or in bankruptcy, my <br />advice would be that prior to consenting to any <br />specific agreement, we get some advice from a <br />bankruptcy specialist attorney to insure that <br />whatever action that we take we will be protected <br />from the bankruptcy proceeding. I think we would <br />need that. <br />Howard: My concern is that we get into a large legal <br />entanglement whereby the work that everyone wants <br />to see get done does not occur for a long period <br />of time. Are there any feelings about the kind of <br />time this would run and what we can expect if we <br />chose alternate one and the city attempts to <br />complete the work. <br />Griffiths: I would hesitate to suggest any mechanism that <br />they might be able to use to avoid our agreement. <br />What I would see under alternative number one is <br />an agreement that is very tightly written that <br />provides immediately for the assignment of the <br />existing funds being held by the City to be uti- <br />lized by the City for those improvements, and to <br />