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Study Session 1944 January 10, 2005 Item Four: Rezoninq Public Hearinq Date Mr. Ollendorff recommended setting 6:30 p.m. on January 31, 2005 in these Council Chambers as the time and place for a public hearing on the Plan Commission recommendation to rezone property at the southeast corner of Kingsland and Vernon, 6668 Vernon, from "lC" Industrial Commercial to "PD" Planned Development. Rezoning would be followed by approval of a development plan to carry out the construction of a four-story building with parking on the first floor and ten-condominium apartment units on each of the upper three levels. Councilmember Sharpe moved adoption of the consent calendar. Councilmember Colquitt seconded the motion, which carried unanimously. A.qenda Item No. 2: Robert/Raymond Alley Special Tax Bill This is to request that City Council approve reduced interest rate of 5 percent instead of the standard 8 percent through December 31, 2005. This should not be considered a precedent due to the unique circumstances of the project and the limited number of properties involved. The interest rate would revert to 8 percent in 2006 at which time the City Council could again reconsider based on then current interest rates. Mr. Ollendorff said that the City sent the required special tax bills but those residents who received them requested two changes: an extension of the sixty-day time period to pay without interest, which was done administratively, allowing them an extra two months to pay any part they wished to pay without interest. He said the second requested change required Council action. The bills are at the City's standard 8 per cent interest rate, but the residents requested a reduced interest rate which Mr. Ollendorff recommends the Council allow for the period of one year. Due to extenuating circumstances, this would not become a precedent. The City can reduce the rate to 5 per cent for the next twelve months legitimately without risking any public funds. At the end of that period, the rate would revert to the standard eight per cent but could in future years be reduced if the Council is so persuaded. Mr. Ollendorff recommended authorization reduction for one year, from eight per cent to five per cent, as the interest rate for this alley improvement. Councilmember Colquitt moved adoption and Mr. Sharpe seconded the motion. Ms. Colquitt asked that the Council look at this issue in another twelve months, with the aim of continuing this interest rate. The motion passed unanimously. A,qenda Item No. 3 - Recreation Facility Marketinq Contract A request for qualifications was sent to sixteen public relations, graphic, and marketing firms to develop a marketing campaign for recreation facility memberships. The project Page 7