replacement purchase of two dump trucks.

Motion made by Councilmember Buse to approve the consent agenda. Councilmember Patel seconded.

The motion passed on a roll call vote: Councilmember Buse – Aye; Councilmember Patel – Aye; Councilmember Feder – Aye; Councilmember Hummell – Aye; Councilmember Yorg – Aye; Councilmember Waldman – Aye; and Mayor McAndrew – Aye.

A RESOLUTION TO SUPPORT BIRD CITY DESIGNATION

City Manager Gipson reported that Bird City Missouri is part of the Bird City Network initiatives. This program works with communities to improve habitats, reduce threats to birds, engage people in bird conservation, and promote sustainability.

The motion passed on a roll call vote: Councilmember Buse – Aye; Councilmember Patel – Aye; Councilmember Feder – Aye; Councilmember Hummell – Aye; Councilmember Yorg – Aye; Councilmember Waldman – Aye; and Mayor McAndrew – Aye. The bill,

03-10-2026 BOA Minutes March 10, 2026 Page 4 of 10 having received majority approval, was adopted, and became Ordinance No. 6995 of the City of Clayton.

AN ORDINANCE TO AUTHORIZE ISSUANCE OF TAXABLE INDUSTRIAL REVENUE BONDS (121 SOUTH MERAMEC PROJECT), SERIES 2026

City Manager Gipson reported that School Lot Development, LLC (the “Company”) is requesting the issuance of revenue bonds to fund the acquisition and renovation of the property at 121 South Meramec Avenue. The project aims to convert the existing building into approximately 118 market-rate apartments with related amenities.

The City is authorized to issue Taxable Industrial Revenue Bonds in a principal amount not to exceed $60,000,000. These bonds will provide funds for the costs of acquiring, constructing, and improving the facility. The bonds are limited obligations of the City, payable solely from revenues derived from a Lease Agreement with the Company. They do not constitute a general obligation or indebtedness of the City and are not payable through taxation. As required by Sections 100.010 through 100.200 RSMo, a Plan for an Industrial Development Project and Tax Impact Analysis (the "Plan") has been prepared for consideration by the City Council. In consideration of the bond issuance, the Company will enter into a Performance Agreement to make certain payments in lieu of taxes (PILOTs) to the City.

Staff recommend approval of the ordinance authorizing the City to issue the Series 2026 Bonds and execute the following related documents.

Michael Knight and Doug Rasmussen, School Lot Development, LLC, addressed the Council to answer questions.

Mark Grimm, Attorney, Gilmore & Bell, P.C., Bond Counsel, was in attendance to answer questions.

Councilmember Buse introduced Bill No. 7136, an ordinance authorizing the issuance of Taxable Industrial Revenue Bonds (121 South Meramec Project), Series 2026 to be read for the first time by title only. Councilmember Patel seconded.

City Attorney O’Keefe reads Bill No. 7136, first reading, an Ordinance Authorizing the City of Clayton, Missouri, to Issue its Taxable Industrial Revenue Bonds (121 South Meramec Project), Series 2026, in a Principal Amount not to Exceed $60,000,000, for the Purpose of Providing Funds to Pay the Costs of Acquiring, Constructing and Improving a Facility for an Industrial Development Project in the City; Approving a Plan for the Project; and Authorizing the City to Enter Into Certain Agreements and Take Certain Other Actions in Connection with the Issuance of the Bonds by title only.

The motion passed unanimously on a voice vote.

AN ORDINANCE AUTHORIZING A PARKING LEASE, MUTUAL MEMORANDUM OF LAPSE AND TERMINATION, AND LOADING DOCK AGREEMENT FOR 121 S. MERAMEC AVENUE

City Manager Gipson reported that Clayton City Ventures, LLC ("Tenant") is renovating the office building at 121 South Meramec Avenue into approximately 118 residential apartments and ground-floor commercial space. The project requires 80 unreserved parking spaces in the City's Brentwood Garage. Because a prior lease for this site with Revive Capital Development,

The project requires 80 unreserved parking spaces in the City's Brentwood Garage. Because a prior lease for this site with Revive Capital Development,

03-10-2026 BOA Minutes March 10, 2026 Page 5 of 10 LLC has lapsed, a Mutual Memorandum of Lapse and Termination would be prudent to avoid any misunderstanding or dispute with respect to the status of that agreement. As part of the lease terms (Section 5.6), the Tenant is granted a revocable license to use the Brentwood Garage loading dock. This right is conditioned upon the execution of the Loading Dock Use and Maintenance Agreement, which dictates the Tenant’s responsibility for maintenance, repairs, and snow removal.

Councilmember Buse introduced Bill No. 7137, an ordinance authorizing a Parking Lease, Mutual Memorandum of Lapse and Termination, and Loading Dock Agreement for 121 S. Meramec Avenue to be read for the first time by title only. Councilmember Patel seconded.

City Attorney O’Keefe reads Bill No. 7137, first reading, an Ordinance Approving and Authorizing Execution of a Parking Lease Agreement with Clayton City Ventures, LLC, and a Related Mutual Memorandum of Lapse and Termination, and Loading Dock Use and Maintenance Agreement by title only.

The motion passed unanimously on a voice vote.

Motion made by Councilmember Buse that the Council give unanimous consent to consideration for adoption of Bill No. 7137 on the day of its introduction. Councilmember Patel seconded.

The motion passed unanimously on a voice vote.

Councilmember Buse introduced Bill No. 7137, an ordinance authorizing a Parking Lease, Mutual Memorandum of Lapse and Termination, and Loading Dock Agreement for 121 S. Meramec Avenue to be read for the second time by title only. Councilmember Patel seconded.

City Attorney O’Keefe reads Bill No. 7137, second reading, an Ordinance Approving and Authorizing Execution of a Parking Lease Agreement with Clayton City Ventures, LLC, and a Related Mutual Memorandum of Lapse and Termination, and Loading Dock Use and Maintenance Agreement by title only.

The motion passed on a roll call vote: Councilmember Buse – Aye; Councilmember Patel – Aye; Councilmember Feder – Aye; Councilmember Hummell – Aye; Councilmember Yorg – Aye; Councilmember Waldman – Aye; and Mayor McAndrew – Aye. The bill, having received majority approval, was adopted, and became Ordinance No. 6996 of the City of Clayton.

A RESOLUTION FOR A PARKING RATIO FOR RENOVATION OF 121 SOUTH MERAMEC AVENUE AS A MIXED-USE DEVELOPMENT

City Manager Gipson reported that This is a request to consider an application for a renovation of the property addressed 121 South Meramec Avenue as a mixed-use development with a parking ratio established by a parking study.

The site is located at the northwest corner of the intersection of South Meramec Avenue and Bonhomme Avenue. The property is zoned M-3 High Density Mixed-Use. The property contains an 11-story office building previously occupied by St. Louis County government and often referred to