Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
City Council - Regular Meeting - Nov 5, 2012
5HJXODU0HHWLQJ1R±1RYHPEHU 3OHGJHRI$OOHJLDQFH $:LVKLQJWREHKHDUGGXULQJWKH2SHQ&RPPHQW3HULRGZDV%DUEDUD8SWRQ6KH WROGWKH&RXQFLOWKDWWKHELNHODQHVLQWKHPLGGOHRIWKHKLJKZD\VVSHFLILFDOO\ +LJKZD\DURXQGWKH&XE)RRG6WRUHLQVRXWKHDVW5RFKHVWHUDUHH[WUHPHO\ XQVDIHIRUERWKGULYHUVDQGELF\FOHULGHUV6KHDVNHGWKH&RXQFLOWRFRUUHFWWKH VLWXDWLRQ &RXQFLOPHPEHU+UXVNDQRWHGWKHELNHODQHVDUHSDUWRIWKH&RPSOHWH6WUHHWV 3ROLF\ %$FWLQJ3UHVLGHQW5DQG\6WDYHUFDOOHGWKHPHHWLQJWRRUGHUDW '6HHDWHQGRI',WHPV 5HJXODU0HHWLQJ1R±1RYHPEHU '$SSURYHG$FFRXQWVSD\DEOHRIHWRIWKH(DVWIHHWOHVVWKH1RUWKIHHWRI2XWORWWRJHWKHUZLWKWKH :HVWIHHWRIWKH(DVWIHHWOHVVWKH1RUWKIHHWRI2XWORWDOOLQ &XPPLQJV$GGLWLRQWRWKHWRZQQRZ&LW\RI5RFKHVWHU0LQQHVRWD '$GRSWHG5HVROXWLRQ1RDSSURYLQJD&LW\2ZQHU&RQWUDFWIRU3URMHFW1R- ³:DWHUPDLQ +\GUDQW V WR6HUYH7ULQLW\3UHVE\WHULDQ&KXUFK SDUWRI/RW %ORFN3URYLGHQFH$GGLWLRQ ´ZLWK7ULQLW\3UHVE\WHULDQ&KXUFKRI5RFKHVWHU )ULHGULFK&RQVWUXFWLRQ,QF+DPPHO*UHHQDQG$EUDKDPVRQ,QFDQG0F*KLH %HWWV,QF '$GRSWHG5HVROXWLRQ1RDSSURYLQJWKHH[HFXWLRQRIDQHDVHPHQWDFURVV &LW\/DQGVIRUWKH&DS;N9WUDQVPLVVLRQOLQHSURMHFWDWWKHUHJLRQDOVWRUPZDWHU WK SRQGVLWHO\LQJZHVWRI$YHQXH1:DQGVRXWKRIWKH'RXJODV6WDWH7UDLO 5HJXODU0HHWLQJ1R±1RYHPEHU '$GRSWHG5HVROXWLRQ1RUHTXHVWLQJWKDW0Q'27FRQGXFWDVSHHG]RQH WKWKWK VWXG\RQ$YHQXH6:EHWZHHQ6WUHHW6:DQG6WUHHW6: '$GRSWHG5HVROXWLRQ1RDSSURYLQJD5HYRFDEOH3HUPLWZLWK0D\R&OLQLFWR UG DOORZWKHSODFHPHQWRIDVLJQZLWKLQWKH$YHQXH6:ULJKWRIZD\ORFDWHG DGMDFHQWWRWKH'DPRQ3DUNLQJ5DPSSDUWRI%ORFNDQGDOORI%ORFN2ULJLQDO 3ODW '$GRSWHG5HVROXWLRQ1RDSSURYLQJD5HYRFDEOH3HUPLWZLWK5RFKHVWHU $VVHPEO\RI*RG&KXUFKWRDOORZWKHSODFHPHQWRIDUHWDLQLQJZDOORQ/RWV %ORFN5RFKHVWHU$VVHPEO\RI*RG6XEGLYLVLRQZLWKLQWKHIRRWXWLOLW\HDVHPHQW RQWKHSURSHUW\ '$GRSWHG5HVROXWLRQ1ROHY\LQJWKHSURSRVHGDVVHVVPHQWVIRU3URMHFW1R -WKHUEXVLQHVVHVDQG LQGLYLGXDOVDQGLQFRQVXOWDWLRQZLWKWKHIDPLO\RI'HQQLV+DQVRQDPHPRULDOEHQFK GHSLFWLQJ'HQQLV¶OLIHZLOOEHLQVWDOOHGRQWKH3HDFH3OD]D7KHEHQFKZLOOEH GHVLJQHGE\DQDUWLVWDIWHUGHVLJQVDUHVXEPLWWHGWKURXJKWKH$UWV&RXQFLO7KH EHQFKZLOOEHUHDG\IRUWKHRSHQLQJRIWKH3HDFH3OD]DLQWKHVSULQJRI 5HJXODU0HHWLQJ1R±1RYHPEHU &RXQFLOPHPEHUV0HDQVPRYHG+UXVNDVHFRQGHGWRDFFHSWWKHGRQDWLRQRI IURP&RPPXQLW\&KDULWLHVRI0LQQHVRWDIRUDPHPRULDOIXQGLQPHPRU\RI 'HQQLV+DQVRQ$\HV 1D\V 0RWLRQFDUULHG '0D\RU%UHGHFDOOHGWKH&RXQ FLO¶VDWWHQWLRQWRWKHDSSRLQWPHQWRI/LDP+DWKDZD\DV DPHPEHURIWKH0LQQHVRWD6WXGHQW(QHUJ\3URMHFWWKDWZDVDSDUWRIWKHHQHUJ\ SURMHFWDW0D\R+LJK6FKRROODVW\HDUGHYHORSLQJDOWHUQDWLYHZD\VRIHQHUJ\IRU VFKRROEXLOGLQJV &RXQFLOPHPEHUV:RMFLNPRYHG0HDQVVHFRQGHGWRDSSURYHWKHDSSRLQWPHQWRI /LDP+DWKDZD\WRWKH(QHUJ\&RPPLVVLRQIRUWKHWHUPH[SLULQJ'HFHPEHU $\HV 1D\V 0RWLRQFDUULHG '$FWLQJ3UHVLGHQW6WDYHUFODULILHGIRUWKH&RXQFLOWKDW$XWR3LORWVKDVEHHQRSHUDWLQJ DOUHDG\LQWKH&LW\DVDWUDQVSRUWDWLRQWKDWZLOOGULYHWKHSDWURQLQWKHLURZQFDU KRPHZLWKVRPHRQHIURPWKHFRPSDQ\IROORZLQJ7KH3XEOLF7UDQVSRUWDWLRQ )UDQFKLVHZLOORQO\DOORZ$XWR3LORWVWRWDNHLQGLYLGXDOVLQWKHFRPSDQ\¶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±WR30 0RPVRQ7KH5XQ.)XQ5XQ±%HDU&UHHN7UDLO±1RYHPEHU± $0WR30 6LJQV $FH6LJQ'LVSOD\V±6RXWK6LRX[&LW\1HEUDVND *DPEOLQJ±6LQJOH WK 5RFKHVWHU+RVW/LRQV&OXEDWWKH(DJOH¶V&OXE± 5HJXODU0HHWLQJ1R±1RYHPEHU 5&7&DWWKH+HLQ]&HQWHU±&ROOHJH9LHZ'ULYH6(±'HFHPEHU 6W)UDQFLVRI$VVLVL&KXUFK±7KLUG6WUHHW6(±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±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±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±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±:LOGOLIH6HUYLFHV $3+,6:6 ZRXOGDVVLVWWKH&LW\LQDYDULHW\ RIWHFKQLTXHVDQGGHYLFHVIRUDQLQWHQVLYHSURJUDPZKHUHWKHFURZVDUHURRVWLQJ 7KHHIIRUWVZLOOFRQVLVWRIIRXUSHUVRQWHDPVXVLQJODUJHUODVHUGHYLFHVQRLVHV GLVWUHVVFDOOVEUHDNLQJXSURRVWLQJVLWHVDQGGULYLQJWKHFURZVWRORFDWLRQVRXWVLGH WKHFLW\7KHFRVWRIWKHVHUYLFHLVIRUDFWXDOFRVWVRQO\ZLWKQRSURILWVJDLQHGE\WKH $3+,6:6 5HJXODU0HHWLQJ1R±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³+HUH&RPHV 6DQWD&ODXV´DWWKH3HDFH3OD]DRQ'HFHPEHUIURPWR30 $\HV 1D\V 0RWLRQFDUULHG *D$Q2UGLQDQFH&UHDWLQJDQG(QDFWLQJ6HFWLRQRIWKH5RFKHVWHU&RGHRI 2UGLQDQFHV5HODWLQJWRWKH*UDQWLQJRID3XEOLF7UDQVSRUWDWLRQ)UDQFKLVHWR$XWR 3LORWV,QFZDVJLYHQDILUVWUHDGLQJ &RXQFLOPHPEHUV:RMFLNPRYHG+UXVNDVHFRQGHGWRVXVSHQGWKHUXOHVDQGJLYH WKHRUGLQDQFHDVHFRQGUHDGLQJ$\HV 1D\V 0RWLRQFDUULHG7KH RUGLQDQFHZDVJLYHQDVHFRQGUHDGLQJ&RXQFLOPHPEHUV:RMFLNPRYHG %LOGHUEDFNVHFRQGHGWRDGRSWWKHRUGLQDQFHDVUHDG$\HV 1D\V 0RWLRQ FDUULHG&RXQFLOPHPEHU6Q\GHUYRWHGQD\ *E$Q2UGLQDQFH$PHQGLQJDQG5HHQDFWLQJ6HFWLRQRIWKH5RFKHVWHU&RGHRI 2UGLQDQFHV5HODWLQJWRWKH*UDQWLQJRID3XEOLF7UDQVSRUWDWLRQ)UDQFKLVHWR 6SHFLDOW\7RXUVZDVJLYHQDILUVWUHDGLQJ &RXQFLOPHPEHUV:RMFLNPRYHG+UXVNDVHFRQGHGWRVXVSHQGWKHUXOHVDQGJLYH WKHRUGLQDQFHDVHFRQGUHDGLQJ$\HV 1D\V 0RWLRQFDUULHG7KH 5HJXODU0HHWLQJ1R±1RYHPEHU RUGLQDQFHZDVJLYHQDVHFRQGUHDGLQJ&RXQFLOPHPEHUV:RMFLNPRYHG6Q\GHU VHFRQGHGWRDGRSWWKHRUGLQDQFHDVUHDG$\HV 1D\V 0RWLRQFDUULHG *D$Q2UGLQDQFH$PHQGLQJDQG5HHQDFWLQJ6XEGLYLVLRQRI6HFWLRQRIWKH 5RFKHVWHU&RGHRI2UGLQDQFHV5HODWLQJWR3DUNLQJ0HWHU%DJ)HHVZDVJLYHQD VHFRQGUHDGLQJ&RXQFLOPHPEHUV+UXVNDPRYHG:RMFLNVHFRQGHGWRDGRSWWKH 2UGLQDQFHDVUHDG$\HV 1D\V 0RWLRQFDUULHG ,-XG\6FKHUU&LW\&OHUNVDLGWKH&RXQFLOZLOOQHHGWRPHHWRQ:HGQHVGD\ 1RYHPEHUDW30LQWKH&LW\&OHUN¶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¶VZHEVLWHDWWKHUHTXHVWRI&RXQFLOPHPEHU0HDQV 6KHIHOWLWVKRXOGEHHDVLO\VHHQDQGDYDLODEOH&RXQFLOPHPEHU0HDQVVDLGVKH IXOO\VXSSRUWVWKHDFWLRQWKLVHYHQLQJDQGZRXOGOLNHWKLV5HVROXWLRQDGGHGWRWKH ZHEVLWHDVZHOO &RXQFLOPHPEHU:RMFLNWKDQNHGWKHPHPEHUVRIWKH+XPDQ5LJKWV&RPPLVVLRQ DQGVWDIIIRUWKHGHYHORSPHQWRIWKH5HVROXWLRQ+HVDLGZHDUHQRWDERXWKDWHIXO VSHHFKKHUHLQ5RFKHVWHU $\HV 1D\V 0RWLRQFDUULHG -+DYLQJQRIXUWKHUEXVLQHVV&RXQFLOPHPEHUV6Q\GHUPRYHG:RMFLNVHFRQGHGWR UHFHVVWKHPHHWLQJWR30RQ:HGQHVGD\1RYHPEHULQWKH&LW\ &OHUN¶V&RQIHUHQFH5RRP&LW\+DOO)RXUWK6 WUHHW6(5RFKHVWHU$\HV 1D\V 0RWLRQFDUULHG BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB &LW\&OHUN