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Community Redevelopment Agency October 30, 2017 Page 3 of 4 Mr. Newlon requested the Community Redevelopment Agency fund the feasibility studies for the CRA's information and also for the City Commission's consideration. He said that Associated Consulting International, Inc. (ACi) has a continuing service contract with City. Mr. Newlon said he has asked ACi to present a proposal for the feasibility of developing the site commercially and as a cultural event center. Mr. Newlon said the study would cost $53,800 and would take two to three months to complete the work. A brief discussion ensued regarding the study providing the highest and best use for Police Station property to benefit the community. Mr. Larry Adams, ACi, 955 North Pennsylvania Avenue, Winter Park, Florida came forward. Mr. Adams added that the project start at a high level of assessment but not to jump too fast and spend more money. He said this process is a science as much as it is a vision. Mr. Adams said the scientific data could create additional ideas for the property. He said it is a high-level assessment with no renderings. He said they are looking at the math and physics of the market and the vision and branding of the City. Mr. Newlon explained that the north properties have not changed ownership and the option with Casto for those properties expires on December 18, 2018. Mr. Newlon said for the purpose of this study, we should assume that Casto would purchase those properties. A general discussion ensued regarding the purpose of the study to determine if the Police Station should be relocated. In response to the Board's question, Mr. Newlon said he would not look at the Wilshire site until a determination is made on the Police Station site. A brief discussion ensued regarding the cost of building a new Police Station on the Wilshire site. In response to the Board's question, Mr. Newlon stated that the study would take three months to complete. Ms. Glancy asked for a motion for Supplemental Agreement 19, with ACi. Ms. Solomon made a motion to approve the authorization for Supplemental Agreement 19 with Associated Consulting International Inc. (ACi) as presented. Mr. Hufford seconded the motion. Ms. Glancy asked for audience participation. No one came forward The motion passed unanimously by voice vote.