02/24/2003 Meeting Minutes - Laserfiche WebLink

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Special Council Meeting 2=24-03 Page 8 Mayor Rinker said purchase agreement that is sealed with escrow dollars. You know anyone can breach a contract but then it would be in breaching of the contract. Dr. Parker said so that's the point where I had my comfort level. Mayor Rinker said that's how I feel when we have that. Mr. Marrie said without these purchase agreements though, our chances with Issue One money pretty well--I won't say go down the drain but are in jeopardy, correct? Mr. Brett said they go down the drain. Council President Buckholtz said let me say the second portion of this doesn't have a property acquisition associated with it. It is strictly a remediation. Mayor Rinker said the other one-you asked about Zako. Ken Zako at least 4 years ago called out of the blue and said you know I see what you are doing up there, I have been paying attention to it; you know I am getting to a point where I'd like to be able to--this is my way-I'd like to be able to-this is my legacy-something I'd like to pass onto my family-but I'm not ready yet. So periodically he would either call or we'd run into each other; this has gone on and off for the last 4 years. He has always said that he likes the farmhouse and wanted that be a condition-that would be - 1 part of the transaction that we respect his wishes there. And I said judging from what I've heard ?. from time to time from people, that shouldn't be a problem because the impression I have is that most people see it as a landmark. But he finally called October or November and said look, I'm going to be ready after the first of the year. He said you know, Pve done work in real estate myself; I've looked at what's been going on. I've been checking comparables-you know, I think this property is probably worth 700-750[,000] but with the contingency that I want in there I think that if I can get 6-650, you know, that is something I want to do. And what we finally agreed to with him, probably about a month ago, similar with Dr. Falkner, again, we reached an understanding after looking at a number of different options. We talked pretty frankly, Phil, Diane Calta and I and Ken Zako; we went out to his house, he showed us around, kind of gave us the grand tour. He said here's what I want to do, I'd like to do it this Spring. He said it's probably going to be a problem. He said well, then, by September at the latest and $650,000 is my price. We talked to him as we did to Dr. Falkner about trying to break this up; we tried to give them the idea of how there may be some strategies by which we could both benefit; both sides would find mutual advantage. He mulled it over but he came and said no; I'd like to do it in one chunk and if we can't do it by September then my price is going to go up to $700,000; no cost of living. We talked about it. He broke it up over 3 years but it would be some kind of figure like that. And we've taken appraisals that we've had on O.D.O.T. expansions, we've worked off of those as our benchmarks but we upgraded Ken Zako's property; Bob Andrzejczyk has looked at it; he;s told us verbally, I don't know if his report is in yet but he's told us- Mr. Brett said rough draft. Mayor Rinker said rough draft that the value of the property is in excess of $700,000 given the zoning and the improvement. Because the O.D.O.T. appraisal we have did not include the