08-27-19 BOA Minutes August 27, 2019 Page 5 of 8

spaces. The purchase price was $1,100,000. The purchase and development agreement with Flaherty & Collins have expired and is no longer in effect. Staff has since negotiated with another one of the original RFP respondents, 8027 Forsyth Acquisitions, LLC which is a related entity to US Capital, formerly known as Koman Development.

8027 Forsyth Acquisitions, LLC proposes to build a multi-story Class “A” office building that will have approximately 166,000 square feet of office space, have self-contained parking, and have ground floor retail space of approximately 13,000 square feet, which retail space shall include an arts and entertainment venue. The proposed purchase price is $2,625,000. The proposed Purchase and Sale Agreement now presented to the Board for consideration does not circumvent any required rezoning and architectural review of the project. 8027 Forsyth Acquisitions, LLC will make an application for a Planned Unit Development district designation and will follow the normal site plan and architectural review process including any new requirements currently being discussed within the Plan Commission and Board of Aldermen. Staff has negotiated the agreement and supports it approval. Andrew Galakatos, 8025 Maryland Avenue, addressed the Board with concerns that there was no appraisal done and providing a “safety net” or “buy back” proposed in the agreement. He recommends that the Board vote no on the issue or table it until there is a full board to act on it. Alderman Berkowitz agreed with Mr. Galakatos.

Alderman Berkowitz agreed with Mr. Galakatos. Alderman Winings introduced Bill No. 6744, an ordinance to approve a purchase and sale agreement with U.S. Capital for 8049 Forsyth Boulevard to be read for the second time by title only. Alderman McAndrew seconded. City Attorney Karr reads Bill No. 6744, second reading, an Ordinance Approving and Authorizing Execution of a Purchase and Sale Agreement for 8049 Forsyth Boulevard by title only. The motion passed on a roll call vote - Alderman Winings – Aye; Alderman Berkowitz – Nay; Alderman McAndrew – Aye; Alderman Buse – Aye; and Mayor Harris – Aye. AN ORDINANCE TO CONSIDER APPROVING THE 3RD QUARTER AMENDMENT TO THE FY2019 BUDGET

Kayla Pacanowski, Interim Director of Finance provided the Board with a brief summary of the proposed amendments consisting of updated estimates for project costs and timing and personnel service costs related to vacancies. Alderman Winings introduced Bill No. 6753, an ordinance to approve the FY2019 3rd Quarter Budget Amendment to be read for the first time by title only. Alderman Berkowitz seconded. City Attorney Karr reads Bill No. 6753, first reading, an Ordinance Amending the Fiscal Year 2019 Budget and Appropriating Funds Pursuant Thereto by title only. The motion passed unanimously on a voice vote. Motion made by Alderman Winings that the Board give unanimous consent to consideration for adoption of Bill No. 6753 on the day of its introduction. Alderman Berkowitz seconded.

Specifically, the section impacted is on the west side between Mohawk Place south right of way and the east-west alley south of West Biltmore Drive. The current restriction on this section of Bemiston Avenue is that parking is limited to one hour between the hours of 8:00 A.M. and 9:00 P.M. Monday through Friday, except by valid resident and visitor permit. The proposed change would retain the same restrictions but also extend the one-hour limit to Saturday’s so that the one-hour parking limit would be in force Monday through Saturday except with a valid resident or visitor permit. Staff is proposing the changes to better balance the competing uses of residential and the adjoining business district. Gary Carter, Economic Developer, addressed the Board to answer questions. Alderman Winings introduced Bill No. 6754, to approve an amendment to Table III F and Table III O of the Parking Regulations related to South Bemiston Avenue to be read for the first time by title only. Alderman Berkowitz seconded. City Attorney Karr reads Bill No. 6754, first reading, an Ordinance Amending Tables III-F and III- O of Schedule III of Title III of the Clayton City Code Relating to Residential Parking Restrictions by title only. The motion passed unanimously on a voice vote. Motion made by Alderman Winings that the Board give unanimous consent to consideration for adoption of Bill No. 6754 on the day of its introduction. Alderman Berkowitz seconded. The motion passed unanimously on a voice vote.

Alderman Berkowitz seconded. The motion passed unanimously on a voice vote. Alderman Winings introduced Bill No. 6754, to approve an amendment to Table III F and Table III O of the Parking Regulations related to South Bemiston Avenue to be read for the second time by title only. Alderman Berkowitz seconded.