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Revitalization Commission <br />Minutes <br />June 30, 2021 <br />Page 5 of 6 <br />contribute significantly. He suggests $9M to Hwy 42 and $4.75M to Main St. He <br />wants Section 5a of the Cooperation Agreement to be revised to guarantee <br />both get built. <br />Council member Leh asked Attorney Cotton -Baez to comment to make sure <br />what LRC proposes is appropriate and legal. Commissioner Smith stated he <br />wants to force the reprioritization. Council member Leh understands but worries <br />that the LRC stipulation could make financing or bonding more difficult for the <br />City. <br />Attorney Cotton -Baez said it is within purview of LRC to condition funding on <br />what the LRC wants to see happen. However, the Council may not be able to <br />accept that and the project may not move forward. Design has not been <br />finalized but Council needs to move forward to ask the voters for bonding <br />authority. There will need to be some level of commitment that Council can <br />count on or Council will not be able to rely on the revenue stream to pay back <br />the bonds. However, the LRC does have full control over funds. <br />Council member Leh said Hwy 42 is in his Ward, and he thinks it is important. It <br />is not excluded. There may be impacts to a decline in funds from LRC to design <br />of underpasses in the URA. <br />Commissioner Gambale proposed a stipulation in the Cooperation Agreement <br />that $8M is only for Hwy 42 and South Street and then pledge an additional <br />$5M in years 2028 through 2032. He felt this would allow the City to rely on <br />funds and still encourages South Street to be built. He also suggested it leaves <br />the LRC sufficient funding for future projects. <br />City Manager Balser wants folks to remember that any LRC contribution gets <br />more underpasses constructed more quickly. And she reiterated the <br />Cooperation Agreement can send a message to Council on LRC priorities. <br />Commissioner Tofte does not want to hamstring Council and said he <br />understands that Council has to respect the will of voters. But he stated that <br />Council should recognize that LRC has one chance to have an impact on these <br />decisions. We are being asked to make a 100% commitment on a 10% design. <br />He thinks Council did not consider LRC proposed prioritization on July 17. <br />Agenda Packet P. 13 <br />