Minutes 03/13/1990 - Laserfiche WebLink

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TUESDAY, MARCH13, 1990 Investment Firms related to the selling of General Obligation Bonds for this project.- Council also authorized the City Manager to discuss s~ort-term financing with local banking institutions to cover the immediate needs for funding this project or through a loan from an existing fund. City Manager Brown is to study this matter and report back to Council. In the discussion of this matter, School Superintendent Harold Lamm and School Board Member Roger Martin noted that the asbestos in these buildings was a type that had to be removed, rather than capsulating. He noted that if the asbestos is not removed the school would likely close, especially Albert Harris Middle School where portions of the building have already been closed off because of the high level of asbestos escaping into the air. He stated that better prices could be obtained for this project if work could start during the current school year, rather than waiting until the summer when all the contractors that do this type work will be in more demand. Councilman McClain m~d Mayor0akes expressed appreciation to Mr. Martin and the School Board for their efforts in minimizing this expense as much as they have. Upon motion, duly seconded and unanimous vote, Council authorized the City Manager to execute an amendment to a lease agreement with Norfolk Southern Corporation for 34,000 square feet of land for the purpose of providing 80 municipal parking spaces in the amount of $2,640 a year beginning December 21, 1990. City Manager Brown noted that 'the City currently leases from Norfolk Southern Corporation a lot located between Depot Street, Franklin Street and the Norfolk Southern railroad spur to Tultex for $702 a year. This proposed increase is sizeable, but he stated that the City currently receives revenue from the rental spaces in this lot in the amount of $9,600 a year, therefore, the lease price is still a bargain.