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MINUTES OF THE ORONO CITY COUNCIL MEETING Monday, November 26, 2007 7:00 o’clock p.m. ___________________________________________________________________________________ PAGE 19 of 32 (#07-3336 Marc Ashton With John Terrance Homes, LLC, On Behalf of Mitch Cook of Central Bank and Larry Pal of LGL Real Estate Investments, Stonebay Outlot A, Continued) final approvals, they could approve the application subject to Staff/City Attorney/City Engineer review and approval. If the Council determines final approvals are premature, then the application should be tabled to the December 10th meeting. Murphy stated when he arrived for tonight’s meeting, he had some concerns regarding the memo that he saw for the first time tonight and that his first inclination was to table the application. Murphy stated it appears that the primary issues relate to money and that in his view it just seems this application is being rushed through the system. Murphy asked Staff if they feel this application is being moved too fast through the process and whether all issues have been addressed adequately. Cook stated one of the reasons for today’s meeting was to figure out exactly where they were at and that today’s meeting was very helpful in clarifying the issues. Cook stated the concept of separating the developers agreements would basically be the agreement that they already have but in two separate documents. The original agreement required that John Terrance Homes consent to certain items, which would be eliminated with the two development agreements. Mattick stated in principal Staff agrees with the points raised and that the major issue relates to the payment of the fees. If the two sites are developed simultaneously, a staging plan is required and with the two development agreements, that helps to keep each developer’s responsibilities separate and distinct. The new development contracts would be very similar to what is currently before the Council but there may be some requirements that would need to be added in terms of the phasing of the project. The bank lot does need to tie into the other lot, which is not currently addressed and would need to be included in the two development agreements. Mattick stated the two issues before the Council are: One, payment of all fees up front. LGL does not feel it is fair to pay fees on property that they do not currently own but the City is not willing to record the plat until the fees are paid up front. The City could sign the mylars, release them to the closing agent, with the closing agent releasing the mylars for recording and at the same time the City being given the securities that it is requesting. Mattick stated while this is not the way the City normally processes an application, in his view this is a reasonable request and would address the developer’s Item #02 - CC Agenda - 12/10/07 Approval of Council Minutes 11/26/07 [Page 19 of 32]