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Minutes of the Special Meeting of Council Monday, August 3, 2015 My understanding is that in this deal that QED is fronting about $1.4 million dollars both toward infrastructure and just to reduce its rent and of course as we know in conunercial leases a lot of lines have an amortization for the T&I component, so this is one way QED wanted to lower its monthly payment for those factors. Premier has indicated that it in turn is putting in about another $1 million in improvements. The jobs are retained. We know that 700 has prospects after QED leaves because it's unproved space. So the double story is, it's not only about the jobs and the income tax, it's about the infrastructure, the physical plan of these properties and one of the ways that we can appropriately invest dollars in them to make theirs sustainable and very lucrative for all players involved. Ultimately it's lucrative for us because in just 5 years alone, we project a net even with this incentive grant of over $1 million in revenue on top of that. We have saved jobs. We have improved properties and we have increased our bottom line in terms of revenues. Contrast that with the fact that it's been since 2006 since the last tune we went out for debt. That was for the police station. It was about a $4 million bond. Everything since then has been cash. If you look at the road programs, the street programs and sewers, we have in the last few years spent about $9 million. That's including the sanitary sewer conversion on Eastgate and ~I Meadowood, the roadwork there, the water and streets at Eastgate and Bonnieview, Aintree Park, Aintree North, Hanover Woods, Kenwood, I think residents can attest to the fact that these are all significant capital improvements and we have been able to do that because we have sustained the ~ kinds of relationships we have with some of these businesses. Progressive is not the only business we pay attention to. So I think that summary is important for us to remember, especially as everyone goes into this election season and talks about lowering taxes and a chicken in every pot. The fact of the matter is this is a pretty comprehensive approach to make sure we are taking care of our residents and our businesses and they are not mutually exclusive. So I thank Council for these approvals. Council President Marrie thanked Mayor Rinker. Any other comments or questions? Chief Carcioppolo stated, Mr. Marquardt just reminded me. I didn't realize I could do this. Can you guys approve going out to bid on the windows again? Mr. Saponaro stated, we don't need to. Just go out. Mr. Jerome asked, what about for the dispatch item? Mr. Saponaro stated, you don't need approval. They are just getting numbers. You are already allowed to go out to bid for the windows. You don't need our approval. Council President Marrie asked, any other comments or questions? There were none. ADJOiJl~NMENT Mr. Mills, seconded by Mr. Marquardt, made a motion to adjourn.