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<br />REQ~T FOR CITY COUNCIL AGaDA ITEM <br /> <br />Appropriation <br /> <br />Agenda Date Requ_d: J"!!!j;;7 <br />Requested By: Nick Fin~ . <br />Department: Plannine /' <br /> <br />Source of Funds: <br /> <br />N/A <br /> <br />Account Number: <br /> <br />N/A <br /> <br />Amount Budgeted: N/A <br /> <br />Report: _Resolution: _Ordinance: l <br /> <br />Amount Requested: <br /> <br />Exhibits: <br />1. Ordinance <br />2. Water Service Agreement Extension <br /> <br />Budgeted Item: _YES ~O <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />Summary: <br /> <br />The City is in the process of reviewing current utility service agreements with its industrial district customers to <br />determine which agreements have expired or are due to expire within the coming months. <br /> <br />GSL Investments, Inc. has an Industrial District Agreement (IDA) with the City that is valid through December 31, <br />2007. However, the term ofits current Water Service Agreement (WSA) with the City expires on November 13, 2005. <br /> <br />It is the City's desire to create concurrent terms for both of the agreements. In order to achieve this, renewal of GSL <br />Investments, Inc. WSA will be considered at the time of its IDA renewal in January of 2008. It is anticipated that each <br />agreement will share the same seven (7) year term depending on the City's ability to continue to supply water. <br /> <br />Staffhas contacted GSL Investments, Inc. regarding extending the current term of its WSA The Company is agreeable <br />to the extension of its current WSA through December 31, 2007. <br /> <br />Recommendation: <br /> <br />Staff reconunends approval of an ordinance to extend the current term of GSL Investments, Inc. Water Service <br />Agreement through December 31, 2007. <br /> <br />Action Required of Council: <br /> <br />Consider approval of an ordinance authorizing the City Manager to enter into an agreement with GSL Investments, Inc. <br />to extend the terms of its current Water Service Agreement through December 31, 2007. <br /> <br />Approved for City Council Aeenda <br /> <br /> <br />~:I'9 <br />