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Minutes of the Regular Meeting of Council <br />Monday, August 15, 2011 ? <br />Page 13 <br />NY OTHER MATTERS : <br />Council President Buckholtz asked if there were any other comments. <br />Mrs. Betsa stated, just a reminder that the next Caucus will be on Tuesday, September 6?' due to <br />Labor Day. A reminder will be sent at the end of this month. <br />Mr. Marquardt stated, I am wondering; how and why there was a Letter of Intent issued to SKF <br />for $50,000 without concurrence or approval by Council or even notification by Council for a <br />week and half after it was issued. This seems to be highly irregular. and there's no real <br />explanation of it. This is a commitment of $50,000 that was not approved. <br />Council President Buckholtz stated, we did discuss that. I can leY Ted take the lead on that. Joe <br />and I were at the meeting. It's not definitive. It's a Letter of Intent. <br />Mr. Saponaro stated, it's non-binding. There's nothing binding. <br />Mr. Marquardt asked, so why was there no notification to Council until August 5t'? <br />Mr. Saponaro does not understand that because we were at our last meeting and the Mayor talked <br />about it and Ted talked about it. <br />Mr. Marqua.rdt stated, it was not discussed. It's not in the Minutes of the Caucus. It was not <br />brought up whatsoever. <br />Mr. Saponaro stated, we talked about it on the floor. <br />Mr. Marquardt stated, not the Letter of Intent. The Letter of Intent was not discussed at Caucus. <br />There was no mention that there had been any commitment of $50,000 already made. <br />Mr. Saponaro stated, it's not a commitment. It's a non-binding agreement. We talked about the <br />letter. We talked about it going out. I don't know if they called it a Letter of Intent, but they <br />talked about a letter that the Mayor was going to send out. <br />Mr. Marquardt stated, not in the Caulcus Minutes. The only time it was mentioned was in the <br />Memo of August 5t` which was a week and a half after the Letter of Intent was issued. <br />Council President Buckholtz asked, what's the date of the Letter of Intent? <br />Mr. Marquardt replied, July 26th. <br />Mr. Esborn stated, it was sent out in packets. <br />tn <br />Mr. Marquardt stated, on August S