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Regular Council Meeting March 9, 2015 Page 5 inspecting all of it. Council Member Hashmi said Church Street was supposed to have been inspected by the City as well. He asked Mr. Napier if that was true and Mr. Napier answered in the affirmative. Council Member Hashmi question what happened when the infrastructure was being built on Church Street and questioned. Council Member Hashmi wanted to know why the water line was the only public improvement that was going to be dedicated to the City. Mr. Napier explained because otherwise you would have to have a very large water meter and you would have to pay for every bit of water and it became a cheaper item for the developer. Council Member Hashmi inquired if the roads would be private roads and Mr. Napier answered in the affirmative. Council Member Hashmi said so the police department would not be patrolling. [Ron Parker speaking from the audience — portions inaudible] Mr. Parker questioned Council Member Hashmi if he had a conflict discussing this item, because he worked for a local hospital and was trying to purchase another hospital. Council Member Hashmi said he did not have a conflict, in that the hospital he was acquiring was in a different city and that he did not work for Steve Grubbs, CEO of the local hospital. Council Member Hashmi said he had a few more questions. He asked if there was a bank guarantee required for infrastructure or a cashiers' check required. Mr. Godwin said a letter of credit was required and also bonds required as the process proceeded. Council Member Hashmi inquired if the City had those documents. Mr. Godwin said no, because they had not started any work but those documents would be required before any work began. Council Member Hashmi asked if once the final plat was approved could they begin the work. Mr. Godwin said no, because with this type of plat an agreement was required and the agreement required them to do all of the financial things and that was what protects the city, because the final plat is being approved early. Council Member Hashmi asked Mr. Napier if he had reviewed the water drainage and the flood zones and if everything was correct. Mr. Napier said none of the first phase was in the flood zone but that the plan did show a possible parking lot in the flood zone and that would be addressed at the time they got to that phase. Council Member Hashmi said he thought the City Attorney should be given time to review this contract prior to Council approving the final plat. Mayor Frierson asked the City Attorney if this was boiler plat contract and Mr. McIlyar answered in the affirmative. Mr. McIlyar said in this situation he was familiar with contract, because it was generated from his office, but the City needed to get the financial security prior to work commencing. He also said the financial security is what guarantees those water lines are going to be completed according to Code. Mr. Godwin said Mr. McIlyar was familiar with the contract. Council Member Hashmi said he understood, but was still unclear as to why the City would accept an incomplete application and he thought the attorney should be given time to review the completed contract. A Motion to approve agenda item 11 was made by Council Member Pickle and seconded by Council Member Plata. Motion carried, 5 ayes — 2 nays, with Council Member Hashmi and Council Lancaster casting the dissenting votes. Regular Agenda 12. Receive annual report from Paris Economic Development Corporation.