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CASSELBERRY CITY COMMISSION Minutes of January 27, 2014 — Regular Meeting Page 6 of 12 No report. 9. RESOLUTIONS A. Resolution 14-2570 — Amended and Restated Acquisition Agreement and Option to Purchase with Casto Southeast Realty Services, LLC and Integra Lakes LLC The City Clerk read Resolution 14-2570 by title as follows: "A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE EXECUTION OF AN AMENDED AND RESTATED ACQUISITION AGREEMENT AND OPTION TO PURCHASE BETWEEN CASTO SOUTHEAST REALTY SERVICES, LLC, INTEGRA LAKES, LLC, AND THE CITY OF CASSELBERRY; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE. Staff Presentation: City Manager Randy Newlon gave a brief overview of Resolution 14-2570, stating that the City Commission had approved an Acquisition Agreement and Option to Purchase with the City's two development partners, Casto Southeast Realty Services, LLC (Casto) and Integra Lakes, LLC (Integra) for development of commercial and residential components for a city center- on properties currently owned by the City of Casselberry. He explained that at a Commission workshop held on December 2, 2013, concerns that each Coii"iiiirssroiier had with the original agreement were discussed with the developers to determine if the agreement could be revised to everyone's satisfaction. He advised that what was being presented now for Commission consideration was an amended and restated agreement which incorporated the agreed upon revisions brought forth at the workshop, including a revised site plan, and which complied with the guiding principles developed by the Commission for development of the project. Audience Participation: The following individuals came forward to address Resolution 14-2570: Mr. James Fraleigh, 23 Teresa Court, spoke in opposition to Resolution 14-2570, stating it did not make any fiscal sense to tear up a perfectly good road and building, and he did not believe the City should use taxpayer dollars to purchase property and then sell it to developers for half the price. During Mr. Fraleigh's comments Mayor Glancy advised him that he was welcome to share his concerns but he should speak in a respectable tone. 2. Mr. John Casselberry, 700 South Lost Lake Lane, also spoke in opposition to Resolution 14- 2570, citing various concerns about the agreement language which he felt was confusing and overly complicated. He stated did not believe anything should be recorded in the public records until the transaction was complete, as it would foul the title to the property; and he felt the property was being given away which was not fiscally responsible. No one else carne forward. Budget Impact: There is no impact to the City Budget from the approval of the Amended and Restated