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390 <br /> <br /> Mr. Tarver stated that he would prefer to have the improvement <br /> costs calculated and pro-rated among those concerned rather than <br /> lock in a particular percentage, which could put the City at the <br /> risk of having to pick up additional fees that might be incurred <br /> through inaccurate estimates. <br /> <br /> Mr. Mercer inquired if there were any possibility of the City <br /> being at risk in this process. <br /> <br /> Mr. Roush replied that it could be possible. He explained <br /> that if the costs for improvements greatly exceed the estimate, the <br /> City would be required to contribute up front to meet those costs. <br /> Additionally, the City could still end up contributing money after <br /> the other contributing projects come in and pay their fair share. <br /> He stated that $750,000 for mitigation measures should be more than <br /> adequate, but nothing is certain until the actual bids are received <br /> and awarded. <br /> <br /> Mr. Tarver inquired how long it would take to lock in the <br /> figures. <br /> <br /> Mr. Van Gelder that the figures cannot be locked in until the <br /> project is designed and put out to bid, which process would take a <br /> minimum of 60 days. He added that most of the improvements are <br /> anticipated to happen at one time. <br /> <br /> Mr. Brandes indicated that he had spoken with staff and the <br /> applicant and felt that every one would be well protected and that <br /> the City would not be at risk. <br /> <br /> It was moved by Mr. Brandes, and seconded by Mr. Butler, to <br /> approve the Reimbursement Agreement with Crocker Properties, Inc. <br /> (Wells Fargo Bank) for Stoneridge Corporate Plaza II. <br /> The roll call vote was as follows: <br /> AYES: Councilmember Brandes, Butler, Mohr, and Mayor Mercer <br /> NOES: Councilmember Tarver <br /> ABSENT: None <br /> ABSTAIN: None <br /> <br /> 7-23-90 <br /> <br /> - 14 - <br /> <br /> <br />