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Revitalization Commission <br />Minutes <br />October 12, 2015 <br />Page 3 of 6 <br />agreement already allows the change. Chair Becker said he doesn't know <br />why we'd change paying agent and incur extra expense. He would like to <br />understand more why it needs to be done. <br />Justin McClure of RMCS said Great Western is making an investment in <br />DELO. Great Western wants checks and balances in-house. Chair <br />Becker said if there is anything more than clear cut administrative change, <br />it will have to come back to LRC. <br />Commissioner Menaker made a motion to authorize the LRC Chair, <br />Secretary, City Manager, LRC staff and bond and LRC counsel to approve <br />and execute documents for a change in paying agent for the LRC Core <br />Area bonds if determined by the Chair and staff to be in best interests of <br />project and the commission. The motion was second and passed by a <br />vote of 4-1, with Chair Becker opposed. <br />To date $378,000 gone out in pay requests. Rick Brew of RMCS said they <br />submit pay requests for City review. Public Works is slowest review. Chair <br />is concerned that pay requests are being held up. PW has to be diligent. <br />Deputy City Manager asked what RMCS expectation is. Brew said one <br />week. Chair wants to communicate he knows how important it is to have a <br />predictable pay schedule. Would like the City to pay timely. <br />b. Public Hearing — LRC Resolution No. 02, Series 2015 — A Resolution <br />Approving an Amended and Restated Cooperation Agreement <br />between the City of Louisville and the Louisville Revitalization <br />Commission <br />Commissioner Fisher asked for clarification on item 4a of the agreement. <br />The redline in the packet highlight the changes being proposed to the <br />agreement currently in place — changes to the agreement in 2010. <br />Language needed housekeeping because there are now two agreements <br />in place. <br />Change needs to go to Council (one change not yet approved by Council <br />needs to be approved). <br />Chair Becker opened the Public Hearing <br />Chair asked for Public Comments: What if not approved by Council? Then <br />the current resolution remains in effect. <br />Public hearing closed. <br />4 <br />