The Capital Improvement Fund has $688,000 budgeted for this activity in FY 2015. The balance will come from the Capital Improvements Fund. Staff recommendation is to reject the bid submitted by Gershenson Construction Company, Inc. for the Carondelet Plaza Pavement Rehabilitation Project. In response to Alderman Lintz’s question, John Wulf explained that historically the City bids this type of job out in January or February (peak season) of the year which during that time more bidders would participate.

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Because this particular request for bids was sent “off-season” they received just one bid due to other contractors already being heavily extended with other projects. Alderman Garnholz moved to reject the bid submitted by Gershenson Construction Company, Inc. Alderman Winings seconded. The motion passed unanimously on a voice vote. AN ORDINANCE TO CONSIDER APPROVING AN EASEMENT AGREEMENT TO ALLOW FOR CANOPIES FOR THE OPUS REDEVELOPMENT PROJECT AT 25 NORTH CENTRAL AVENUE

City Manager Owens reported that the request (and purpose) for the easements is for the construction, maintenance, repairs, replacement and demolition of canopies extending into the right-of-way (ROW) at 25 N. Central. The plans submitted in association with the approval of the Opus Development project envisioned these canopies. The easements are generally 137 feet long and 3 feet wide between elevation 617.5 and 631.9, resulting in a clearance of 8 feet or more from the sidewalk to canopy. Both Public Works and the City Attorney have reviewed and approved the easement titled Canopy Easement Agreement being considered tonight. Staff recommendation is to approve the ordinance approving the Canopy Easement Agreement. Alderman Winings recused himself from the meeting. Alderman Garnholz introduced Bill No. 6523, an ordinance to approve Easement Agreements with Opus Development Company, LLC for 25 N. Central Avenue to be read for the first time by title only. Alderman Boulton seconded. City Attorney Heinz reads Bill No. 6523, an Ordinance Approving an Easement Agreement for Canopies to the Opus Redevelopment Project at 25 N.

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Alderman Winings rejoined the meeting. A RESOLUTION TO AUTHORIZE THE CITY MANAGER TO SIGN AN AMENDMENT TO RESTRUCTURE THE LEASE PURCHASE AGREEMENT ON THE FIRE DEPARTMENT LADDER TRUCK

City Manager Owens reported that in 2009 the City purchased a Fire Department Ladder Truck and financed the equipment through a lease purchase agreement for a period of twelve (12) years at a rate of 4.71%. The successful bidder on the lease was PNC Equipment Finance (PNC), which was the entity that handled equipment financing for National City Bank, and these two entities have since merged. After the September 25, 2015 payment, there are 74 remaining payments with an outstanding principal balance of $595,374.91. Recently the City determined that there would likely be savings received by refinancing the remainder of the lease, taking into account the requirement of paying a 2% termination fee on the current lease. The City issued a Request for Quotations (RFQ) and received nine (9) proposals that met the RFQ criteria. The savings ranged from $21,234 to $51,900 for the remaining lease period and the interest rates proposed ranged from 1.78% to 3.0%. A summary of the proposals received is attached. After evaluating the proposals, PNC, the current lessor, had the highest savings for the City of $51,899.90 over the remaining life of the lease, with a 2.1% interest rate.

A summary of the proposals received is attached. After evaluating the proposals, PNC, the current lessor, had the highest savings for the City of $51,899.90 over the remaining life of the lease, with a 2.1% interest rate. By restructuring the current lease with PNC, the City would save the termination fee cost which causes PNC to have the highest savings while not proposing the lowest interest rate. Staff recommends approving the attached resolution authorizing the City Manager to sign the lease amendment documents with PNC Equipment Finance to approve the lease restructuring for a savings of $51,899.90 over the remaining lease period. Alderman Garnholz moved to approve Res. No. 15-14, to authorize the City Manager to sign an amendment to restructure the lease agreement on the Fire Department Ladder. Alderman Winings seconded. The motion passed unanimously on a voice vote. MOTION TO APPOINT A CHAIRMAN TO THE SUSTAINABILITY COMMITTEE

Alderman Garnholz moved to approve the appointment of Pam Fournier as Chairman of the Sustainability Committee. Alderman Winings seconded. The motion passed unanimously on a voice vote. Other

Alderman Garnholz commented that the Art Fair was wonderful. Alderman Garnholz reported that the St. Louis County Municipal League announced that Pat Kelly, former Alderman and Mayor of the City of Brentwood, as their new executive director. Alderman Winings reported that the Plan Commission reviewed a proposal for a restaurant at 15 S. Meramec Avenue. The restaurant will have an upper (outdoor) deck with seating area.