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ADMINISTRATIVE MEETING
CITY COUNCIL OF PALM BEACH GARDENS
OCTOBER 29, 1975
An Administrative Meeting of the City Council of Palm Beach
Gardens, Florida was called to order by Mayor Martino at 7:45 P.M.
in the Assembly Room, 10500 North Military Trail, Palm Beach
Gardens.
Notice of the Administrative Meeting was duly posted on the five
bulletin boards around the City.
ROLL CALL: Mayor Martino, Vice Mayor DeLong a, Councilman Wiley, Councilman
Kiedis, Councilman Feeney and City Manager John L. Orr were
present.
PURPOSE: Mayor Martino stated the purpose of the meeting was to discuss
the financial commitment the City must assum in order to purchase
the 94� acres adjacent to the City Hall Complex; that a prior
meeting had been held regarding this same subject on October 23,
1975 following the adjournment of the Workshop Meeting on that
date.
Councilman Wiley and Councilman Feeney were not in attendance at
the Administrative Meeting held October 23, 1975 and the Council
agreed not to take any action until a full Council was present.
RECAP OF Mayor Martino reiterated what had transpired at the meeting held
MEETING HELD
OCTOBER 231 October 23, 1975: the City Manager had advised the Council that
1975:
two appraisals were received on the parcel of land in question -
the high appraisal was $335,000.00, the low appraisal was
$290,000.00, and he had made a tentative offer based on the
average of the two appraisals, which was not accepted by Royal
American Industries, Inc.. A counter offer was made by
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Administrative Meeting, October 29s 1975
Page 2
Mr. Silva, representating Royal American Industries, Inc., of 10%
more than the high appraisal amounting to $368,500.00. The City
Manager recommended the City Council accept this offer and
presented the Council with four options for payment based on a
7�0 interest rate with a 12 year mortgage arrangement.
DISCUSSION: A chart was given to the Council by the City Manager showing the
current capital indebtedness projected to 1989.
A graft showing the capital indebtedness for the City, including
the purchase of the 94r� acres, and projected to 1989 was prepared
by Councilman Wiley and given to the Council.
Discussion was held on the four options for payment as presented
by the City Manager.
1� VOTE: A poll was taken by the Mayor with the following results:
Mayor Martino voted for Option "A" and Option "C"
Vice Mayor DeLonga voted for Option "BT' only
Councilman Wiley voted for Option "C" and Option "D"
Councilman Kiedis voted for Option IIB :r only
Councilman Feeney voted for Option "g" only
By a vote of three to two, Option "B" was accepted as the Option
to be used for financing the payment of the 91� acres adjacent
to the City Hall Complex. Option "Bt' was accepted due to the
lower total interest rate for the 12 year period.
For the record, the City Manager recommended Option "A" and
Option "C" for flexibility with Option I'D"' recommended for
1--� continuity of budgetary control.
Administrative Meeting, October 29, 1975
Page 3
Options "A ", "B", "C" and "D" are attached as a permanent part of
the record.
No further business, the meeting adjourned at 8.15 P.M.
Mayor Martino
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Vice Mayoafta
CiAY Clerk
Councilman Wiley',
!l Councilman Kiedis
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