The Council will begin the meeting with two public hearings on the proposed development agreement with Karl Chevrolet. According to the agreement, among other things, Karl Chevrolet would be required to invest no less than $10 million into capital improvements for the project, give preference to local contractors, and pay all normal property taxes assessed. In return, the City would undergo $2.325 million in General Obligation bonds and would enter into forgivable loan disbursement with the dealership.
Following action on the development agreement and general obligation bonding resolutions, the Council will then take action on two resolutions on a Stuart Housing Urban Revitalization Area. Other action items include: a resolution authorizing an internal advance for funding for the Economic Development Director, Hotel/Motel Tax Recommendations for the Stuart Rec Center, 2018-2019 employee wages, and setting a public hearing for the sale of a City held property. Other discussion items include: an economic development report from Director Kristen Renslow, signage concerning the Stuart Friends Church, and the town cleanup.
The meeting begins at 6:30pm in the Council Chambers at Stuart City Hall.