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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />AUGUST 21, 2018 <br />kIHq=; <br />APPROVE AN AMENDMENT TO <br />AGREEMENT WITH ELISA STIPKOVICH FOR <br />CONSULTANT SERVICES RELATED TO <br />THIRD AND BROADWAY PROJECT AND AN <br />APPROPRIATION ADJUSTMENT <br />(STRATEGIC PLAN NO. 3, 5A) <br />r-- <br />CITY NAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and the Clerk of the Council to execute an amendment to the <br />agreement with Elisa Stipkovich for consultant services related to the Third and Broadway <br />development project to increase the compensation by an additional $25,000 for a total <br />contract amount not to exceed $50,000, subject to non -substantive changes approved by <br />the City Manager and City Attorney. <br />2. Approve an appropriation adjustment recognizing $53,561.37 in Miscellaneous Revenue <br />Expense Reimbursement account (no. 01102002-57000) and appropriate the same amount <br />to the Community Development Agency's Economic Development Contract Services <br />expenditure account (no. 01118810-62300) for the reimbursement agreement with Caribou <br />Industries. <br />DISCUSSION <br />Consultant Elisa Stipkovich has been lead negotiator for processing deal points for the Third and <br />Broadway Project. The project is moving forward with applications expected shortly. The City is <br />in need of expending more funds on the Consultant to be reimbursed by the developer. This <br />report appropriates the funds into the proper accounts for expenditure. <br />On March 21, 2017, the City Council authorized the City Manager and Clerk of the Council to <br />enter into an Exclusive Negotiation Agreement (ENA) with Caribou Industries for the Third and <br />Broadway project. To assist with the negotiations, the City entered into a contract with consultant <br />Elisa Stipkovich to lead negotiations for the City and identify transaction business terms. <br />On January 16, 2018, the City Council approved a restated Exclusive Negotiation Agreement and <br />an amended reimbursement agreement with Caribou Industries, which extended the negotiation <br />20A-1 <br />