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05/03/2006 Meeting Minutes
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05/03/2006 Meeting Minutes
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North Olmsted Legislation
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5/3/2006
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2006
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Council Minutes of 5!3/2006 <br />3) After consulting with both the investment advisor and bond counsel, she determined it <br />no longer made economic sense to refund the bonds. The market had moved <br />significantly and had not come back, reducing the savings to well under the <br />recommended guidelines. Since you can only refund once, you have to make that choice <br />wisely to make sure it's the most advantageous opportunity as possible. The bonds had <br />to be sold to pay down the notes. We had a timing issue with those, that's why we went <br />ahead and sold them on April 20. But we still could do the refunding, if the market <br />moves through probably the middle of June, with the existing legislation. We could also <br />have the legislation amended and give us more time, maybe through the end of summer <br />or September. The market has deteriorated since last week another 15 basis points. But <br />it can turn around. We want to be ready by having all the documents complete if it does <br />become advantageous. <br />Councilman Gareau, chairperson of the Building, Zoning and Development Committee: <br />1) The BZD Committee met on Tuesday, April 26, 2006. Present were committee <br />members Gazeau, Miller and Orlowski; Council Members Barker, Dailey Jones and <br />Tallon; Law Director Dubelko, Planning Director Wenger, City Engineer Raig, Assistant <br />Building Commissioner Rymazczyk and guests. Agenda items: <br />• Review of Pazcel ~ At the request of Carnegie Mgt. and Development, it was <br />removed from the agenda and will be rescheduled. <br />• Westf eld Great Northern Mall proposal consisting of the renovation of the <br />northern elevation by creating exterior entrances for Archiver's and Wild Mango. <br />These will not have access from the interior of the mall, basically they will be <br />storefronts built into the mall. The area is on the north side of the mall west of <br />Sears and east of the current mall entrance. Archiver's is an enterprise dedicated <br />to the fast-growing area of scrap booking. Wild Mango is a restaurant which is <br />currently located in the mall, but it is hemmed in by Dick's Sporting Goods and <br />the addition of the new restaurant there. They are moving to gain greater <br />visibility. Planning Director Wenger explained These proposals will turn a portion <br />of the mall inside out, so the former interior spaces will have exterior access only. <br />It was explained by Ms. Wenger this is being done to fill vacancies, refresh an old <br />and outdated section of the building and hopefully act as a catalyst to draw new <br />business to the mall. Bath renovations include the incorporation of new building <br />materials, including E.F.I.S., glass and decorative lighting. Plans were presented <br />along with elevations showing the detail. New irrigated landscaped areas will be <br />incorporated. There will be seating provided for guests who are waiting, and <br />there will be some additional trash receptacles. Two issues were raised by Council <br />Member Orlowski: First, inclusion of additional landscaping along the west side <br />of the Wild Mango entryway where the current bench and trash receptacle are to <br />be Located. A discussion was had with Mr. Miller questioning what type of <br />planting would be appropriate for what is a shaded area. Ms. Wenger indicated <br />that additional renovations to that area in the near future may affect any additional <br />expanding landscaping other than presented. General Mgr. Kurt Reddick <br />indicated that he would like to see the proposal remain as presented. After further <br />discussion, the committee did not act on that suggestion. Second, the committee <br />6 <br />
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