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Community Redevelopment Agency Minutes <br />February 24, 202024. <br />Page 3 of 3 <br />Ms. Hanna explained that the property owner has offered to settle globally with the City for $1,100,000 and <br />$150,000 for attorney fees and costs. She said staff anticipates that the entire settlement would be $1,417,260. She <br />said staff is in favor of the settlement and the City Commission would consider this settlement at the February 24, <br />2020 meeting. Ms. Hanna explained that the CRA has authorized $1,200,000; therefore, staff is requesting the CRA <br />authorize additional funding up to $225,000 to close out the acquisition of the Chan property. <br />Ms. Glancy asked for a motion for the additional funding for the acquisition of the Chan Property. Mr. <br />Hufford made a motion to approve the authorization for $225,000 additional funding as requested. Mr. Busch <br />seconded the motion. The motion passed unanimously by voice vote. <br />Sixth Item of Business: Other Business. <br />Ms. Hanna stated that demolition of 110 Quail Pond would take place this week and the fountain would be <br />installed within the next couple of weeks. Ms. Hanna stated that the City received the asbestos study for the Chan <br />building and it is minor in nature. <br />A brief discussion ensued regarding the Police Department using 110 Quail Pond property for training <br />exercises and the estimated time frame for the demolition of the Chan building and construction of the parking lot. <br />Seventh Item of Business: Public Comments. <br />There were no public comments. <br />Eighth Item of Business: Adjournment. <br />There being no further business to come before the Board, Ms. Glancy adjourned the meeting at 4:25 p.m. <br />DATE MINUTES APPROVED BY COMMUNITY REDEVELOPMENT AGENCY: <br />,r <br />Joni Dixonfi Cretary <br />