Wednesday, December 05, 2007

December's City Council Meeting

The Mayor and Council hosted it monthly meeting on 12/4/2007. One of the primary issues before the Mayor and Council was the Operating Agreement between the City and Landmark Atlantic Holding, LLC. The Agreement was approved and provides the City with a one percent holding in the newly formed LLC, The Mount Rainier Gateway Town Center Revitalization Project. Under this agreement and project this City will work with Atlantic Holdings to revitalize the down town area including the old funeral home, the Bass property, Thrifty Car Rental and other properties as may be agreed upon by the partnership.

Landmark Atlantic Holdings hold the majority interest in the new LLC, and will be responsible for fronting 99 percent of the financing on each project including legal fees, court cost, environmental studies, and other activities necessary to remove the blight from our down town area on mutual projects.

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