1/21/1992 - Laserfiche WebLink

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BOOK FAUC Under discussion, Ed Nelson of Countryside advised that they have no question to the 7 -year extension, but they feel the approval should be contingent on further study of the monetary amount, because $28,500 had been put into the R&R fund (Renewal and Replacement Fund) by the original developer. They want to study those figure6, if they may, before that is finally agreed upon. He explained that the developer was to pay $500 a month for a total of $30,000. They had the park for 57 months and records do show that $28,500 was paid into that R&R fund. Since the plant did not need repair by the County during that period or since, it appears that there should be another amount in there. They would appreciate being able to study those figures before the final agreement is made. Commissioner Bird asked how that would affect Commissioner Scurlock's Motion, and Commissioner Scurlock explained that his Motion is for approval, but he wants the Administrator to take another look to make sure that the $142,967 and $6,900 are the right figures. In fact, he would expect those figures would be changing on a minute to minute basis if that money is in an interest-bearing account. Under discussion, Administrator Chandler advised that the $142,967 and $6,900 does not include the R&R or those other funds which were to continue forward, but we can look at that part further if the Board wishes. He just wanted it to be clear that what we identified as one of the questions in the study we did last spring was that amount and the intended potential use of that amount in the future. THE CHAIRMAN CALLED FOR THE QUESTION. The Motion was voted on and carried unanimously, with Commissioner Bird remaining silent. (Silence is considered a vote in favor of the Motion.) Commissioner Bird still was confused about whether we think the R&R should be applied, because if it should be applied, then we probably need to know what the figure is. If it should not be applied, then there is no use going through the exercise. Attorney Vitunac felt the only money going in is the $142,967 plus the $6,900 and any interest accrued in the last few weeks. That will solve the whole issue, no matter how much there was in the R&R fund. Administrator Chandler didn't believe it should include the R&R, because the figure that was discussed last spring was that amount that had been paid by the original developer and turned over 4'2