07/22/93 Board of Public Works Special Meeting Minutes

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SPECIAL MEETING its standards of someone seeks to loser would pay. JULY 22, 1993 operation. Mr. Nussbaum stated that anytime go to litigation that party would know that the Mr. Burkus also questioned why the Chairman of the Joint Committee is selected by the Foundation. Mr. Nussbaum indicated that this matter was the cause of much discussion. He advised Mr. Burkus that the Board would have a right to suggest who should be designated as Chairman. However, at this time, the designation is the right of the Foundation. Mr. Nussbaum noted that this is pursuant to the bylaws. Perhaps the bylaws can be changed in the future to indicate that the designation could alternate from year to year. Mr. Nussbaum noted however that this designation would not be a detriment to the success of the Hall of Fame. Mr. Sean Coleman, Member of the Century Center Board of Managers, questioned the selection of the matters that required seven (7) votes of the Joint Committee. Mr. Nussbaum stated that it was felt that certain matters deserved votes by a super majority. He noted that many matters will have to be dealt with by the Joint Committee, Century Center Board of Managers and the Common Council. Mr. Ken Herceg, Member of the Century Center Board of Managers, had a question regarding the twenty-five per cent (25%) of surplus funds that will be available to the City after all Hall of Fame expenses are met. Mr. Nussbaum explained that if the surplus dollars equal $300,000 or more, the Foundation would receive seventy-five per cent (75%) and the City, twenty-five per cent (25%). If that amount is $300,000 or less, the Foundation would receive ninety per cent (90%) and the city would receive ten per cent (10%). Mr. Nussbaum reiterated that not one dollar will leave the Hall of Fame until all expenses are paid. Board of Public Works President John E. Leszczynski asked if the amount of surplus funds received by the City could be used outside of the Hall of Fame. Mr. Nussbaum stated that they can be and this was a point of discussion at the time of the negotiations. Another member of the Century Center Board of Managers had a question concerning the $50,000 management fee annually due January 1st after completion of the facility. His questions and concerns regarding start up costs, any carry over funds and whether or not they could keep an outside account, were addressed and answered by Mr. Nussbaum. Mr. Sean Coleman, Member of the Century Center Board of Managers, inquired if the City used models from other Halls of Fame. Mr. Nussbaum replied that they did from both the agreement side and the operation side. Other Halls of Fame were looked at but what makes this one different is that a municipality is doing the project. In conclusion, Mr. Nussbaum thanked his family and the families of all other individuals involved in this project. Mr. King advised that the Public Hearing being held today is not a legal requirement but it was the request of the Board of Public Works and the Century Center Board of Managers that the matter be held in public in order to get the perspective of the public which may be useful to Board members. Mr. King stated that individuals wishing to address the Board in favor of this project would be heard first followed by those opposed. At the end of this discussion, time would be reserved for City officials to respond to any comments made.