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Chairman Ginn asked what the letter of intent was to include, and Commissioner <br />Adams advised that it would include that staff work with the group to develop the policies <br />that will enable us to move forward and make this project a reality. <br />Chairman Ginn understood the motion to be that the County would be developing <br />policies around this group so then they would be first in line. She wanted the motion very <br />clear. <br />Assistant Administrator Baird did not know if staff could meet their deadline, and <br />Commissioner Adams stated she had not set a deadline; anything staff developed and <br />recommended would have to come back to the Commission. <br />Chairman Ginn wanted policies developed free of any developers; developing policy <br />is up to the Board and to staff. <br />Vice Chairman Stanbridge believed that if the intent of this motion was just to work <br />on policy, it would not satisfy what The Richman Group needed to do within their time <br />limits. <br />Commissioner Adams agreed it would not. She explained her intent was not only to <br />do the policy but to work with them to make their project a reality and to do whatever the <br />education process needs to be for them to apply for the tax credit. The letter of intent does <br />not set a time. <br />Ms. Merchant stated they needed a letter of intent that the County intends to provide <br />them with $300,000 "net present value". If she understood correctly, Commissioner Adams <br />was saying that they will continue to work with the Commission and staff to find a <br />comfortable formula that will be available to any developer who wants to apply. <br />Commissioner Tippin WITHDREW HIS SECOND, MOTION FAILED. <br />Vice Chairman Stanbridge wanted staff to proceed with coming up with policies in <br />a timely manner. (THERE WERE NO FURTHER MOTIONS.) <br />March 6, 2001 <br />98 <br />E I I PG 357 <br />tj <br />