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<br />5/19/81 <br /> <br />Page - 5 - <br /> <br />Councilman DelPizzo <br /> <br />Inquired of Mr. Kahan when foundations would <br />be poured for any of the buildings. <br />Mr. Kahan replied that within 30 days a <br />schedule would be sent to each councilman <br />providing this information. <br /> <br />Councilman Fauson <br /> <br />Expressed concern that all the prov~s~ons <br />of the sub-division agreement had not been <br />met, i.e. deeds to the open space, title <br />insurance policies for the same. <br />Mr. Joe French, attorney representing Hr. <br />Kahan stated that the land has all been <br />dedicated to the City as shown on the plat <br />attached to the sub-division agreement and <br />the residual property would be spun-off <br />from the major portion of the sub-division <br />agreement. <br />Administrator Wurl added that technically <br />this was not a violation of the sub-divsion <br />agreement yet, the deed and title insurance <br />policy would be due before any building pennit is <br />issued. <br />Mr. French then advised that $336,000 in cash <br />escrow had been deposited 0 in E lo.cal bank in Boulder <br />County, and as other permits are taken out <br />a letter of credit will be posted con~aensurate <br />with the amount of work. Hr. French also <br />advised that an additional $300,000 had been <br />given the City for road improvements that <br />was not due until July 1st according to the <br />sub-division agreement. <br />Councilman Fauson then stated Mr. Kahan had <br />stated that none of the trees would be up- <br />rooted when construction work began at the <br />site and this had been done. <br />Mr. Kahan assured him that numerous trees <br />would be planted later to enhance the en- <br />vironment of the Shopping Center. <br /> <br />Councilman Cummings <br /> <br />Inquired of Mr. Kahan regarding his statement <br />that construction would begin within 30 days <br />if we won the election. He expressed dis- <br />appointment that this did not happen, and <br />3 months time has passed. <br />Mr. Kahan replied that work did begin on <br />May 5, 1981, which was 2 months and apologized <br />for the delay. <br />