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Regular Council Meeting <br />4-18-OS <br />Page 15 <br />First Reading of Ordinance No. 2005-16, entitled: "An emergency ordinance authorizing <br />the Mayor to enter into a development agreement with Panzica Investments." Introduced by <br />Mayor Rinker and Council as a Whole. (as amended) <br />Mr. Marrie, seconded by Mr. Saponaro, made a motion to suspend the rules of Council <br />requiring an ordinance to be read on three separate occasions. <br />Roll Call: AYES: Mr. Buckholtz, Mrs. Cinco, Mr. Marrie, Mrs. Mills, Dr. Parker, <br />Mr. Saponaro <br />NAYS: Mr. Marquardt Motion Carried <br />Rules Suspended <br />Mr. Marrie, seconded by Mrs. Mills, made a motion to enact Ordinance No. 2005-16. <br />Council President Buckholtz asked if there was any discussion. <br />Mr. Marquardt said as I look at this agreement and it would appear that we are going to be <br />paying Panzica Investments $50,000. There is little guarantee that we would get any additional <br />jobs in the Village; it is strictly time related. If it did pan out as laid out here, it would take 3-4 <br />years to recoup the investment that we made based on the revenue income. There is also some <br />question in my mind as to what kind of precedent this will set for our existing tenants when they <br />want to renew their leases and they want to come back to the Village looking for a similar offer. <br />In short; I think that this type of development method or development plan needs a lot more <br />thought and a lot more consideration before the Village acts on something like this and needs to <br />be considered in a broader sense than just the agreement with Panzica. <br />Dr. Parker said I am having a hard time understanding the financials in terms of I don't <br />understand why they need us to supplement their investing corporation or whatever by that <br />amount. I mean it actually does not seem like that much money especially for a successful <br />company and I guess I just don't understand what, as Mr. Marquardt is saying, what kind of <br />precedent we are setting, what message we are spending and why we need to give him $12,000 <br />the first year or whatever it is and I haven't heard any explanation. I mean, do they need the <br />money? Is it something that they should be burdening on themselves if they want to try to <br />develop these companies within their own leasing space. I mean, isn't that an investment they <br />would want to make in their company? I guess I have a hard time seeing why we need to give <br />that kind of money and I would like explanation, I guess. <br />Council President Buckholtz said Tony Panzica is here. I would like to invite him to come up to <br />the microphone and feel free to answer the conversation; tell us what you are thinking. <br />Tonv Panzica - said I have been a part of the Village for almost 25 years now. We were here <br />during the inception when Beta Drive was a manufacturing office warehouse-type base. If you <br />look at what has been happening within the Village and what has been happening on Beta Drive <br />and you see that the park has become tired. There is a lot of empty space out there right now and <br />? it is really at a point where we need a change. I participated on the 2020 Vision Committee on a <br />limited basis but I can see what is needed there. What is happening in other communities is other