Regular Council Meeting held August 9, 2010 - City of Prince George

Regular Council Minutes – August 9, 2010 Page 8come to Centre Table to respond to questions from Council.Carried UnanimouslyClint Dahl and Katherine Scouten came to Centre Table and responded to questionsfrom Council.Moved by Councillor Bassermann, seconded by Councillor Skakun,that the following portions of the Initiatives Prince George (IPG) plan,BE APPROVED:1. IPG proposes the development of a building reserve fund of$327,757 for IPG’s First Avenue property. The fund will assist withshort-term and ongoing building maintenance requirements to keepthe property in good operating condition;2. Establishment of a fund in the amount of $50,000 administered byIPG for the development of a Downtown Marketing Prospectus;and3. Establishment of a fund in the amount of $100,000 to beadministered by the City of Prince George, earmarked for use bythe Prince George Regional Performing Arts Centre Society duringthe next (procurement) phase of their business plan development.To the greatest extent possible, these funds are to be leveraged andcapitalized. Any capitalized proceeds would be returned to IPGwith plan for use to be determined by IPG Board and ratified byCity Council.CarriedCouncillor Stolz was recorded opposed.Moved by Councillor Bassermann, seconded by Councillor Stolz, thatthe following IPG recommendation, BE SUPPORTED:IPG will work with the City of Prince George to examine the feasibilityof adding the First Avenue (Via Rail) Building to the forthcomingCommunity District Energy System, and also to see the value of theCity’s fibre optic cable servicing the building is marketed toprospective tenants.Carried Unanimously