City Council Agenda and Packet 2015 10 06

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City Council Meeting Minutes September 15, 2015 Page 12 of 19 budget. He asked if some comments or presentation could be provided at the next budget meeting. City Manager Fleming stated he would provide a table showing how the dollars from the traditional budget flow into the programs and subprograms area. However the two cannot be linked until the Central data system is fully implemented, which has a revised chart of accounts. Then the challenge will be on how to present the information in the traditional format to compare previous years' information. Council member Lipton noted the budget still contains the adoption of the 2015 International Building Codes, which Council agreed to postpone. He asked if the document was updated based on Council's discussion at the last budget retreat. City Manager Fleming stated the document has been revised and the International Building Codes will be removed. Council member Lipton stated there is citizen interest in street paving and the conditions of the City's streets. He requested more of a descriptive presentation on the budget requirements for upgrading the streets above and beyond what is proposed. MOTION: Mayor Muckle moved to set a public hearing on the 2016 Budget and 2016- 2020 Capital Improvements Plan (CIP) for October 20, 2015, seconded by Council member Keany. All were in favor. RESOLUTION No. 64, SERIES 2015 — A RESOLUTION APPROVING A SEVENTH AMENDMENT TO THE PURCHASE AND SALE AGREEMENT BY AND BETWEEN LOUISVILLE MILL SITE, LLC AND THE CITY OF LOUISVILLE Mayor Muckle requested a staff presentation. Economic Development Director DeJong provided the background information for the Seventh Amendment to the Purchase and Sales Agreement by and between Louisville Mill Site, LLC and the City. The original Agreement executed September 27, 2013, was for the sale of the Grain Elevator to LMS LLC for $200,000. The City provided $500,000 for stabilization of the grain elevator. There were several amendments to the Agreement. The Scope of Work to be complete by October 31, 2015. With respect to the stabilization, $234,664.20 was requested, with a remaining balance of $265,338.80. Architect Erik Hartronft provided an update on the Louisville Historic Grain Elevator Stabilization Project. The project entailed five months of exploratory work. The south section of the structure was stabilized. The applicant filed for a State Historic Preservation Grant in October of 2014. After a seven month process the grant was denied. The applicant is currently working on a new State Preservation Grant. They are currently aggressively working to complete the stabilization project. By end of the first Phase, $400,000 was spent in stabilization, out of the $500,000 grant. With the remaining $100,000 they propose to reconstruct the wagon mounts and hope to upgrade the structures' lighting and electrical system. The unfunded portions of the 30