The council outlined a structured process for addressing ordinances on second reading, with public hearings allowing for community input on each before proceeding to votes. The financial agreements under consideration included a minimum annual service charge from the developer. The implications of failing to pay the pilot were clarified, with a municipal lien taking precedence over any mortgage, thereby incentivizing construction lenders to ensure payments are maintained.

A bond ordinance proposed canceling $12 million of previously authorized debt, aligning with revised project revenues. Revenue projections from the Lord and Taylor properties were discussed, with current tax revenue of approximately $110,000 per year potentially growing over 32 years. This contrasts with the anticipated $165 million revenue from the new project over the same period.

Discussions also included the financial health of Sax Global, the parent company involved in the project, and the conditions necessary for the commercial aspects of the project to proceed, particularly the need for an anchor tenant before construction could commence.

Public comments highlighted skepticism about the project’s financial projections, with residents questioning the adequacy of cost estimates for public infrastructure improvements. Concerns were raised about the transparency of financial documents and the absence of detailed breakdowns for projected costs. Residents emphasized the need for a comprehensive financial and logistical strategy to ensure the project’s success and mitigate disruptions to the community.

The meeting also addressed other resolutions, including the adoption of ordinances related to public improvements and the cancellation of a $12 million bond for the Lord and Taylor train station project. Public safety measures were also discussed, with contracts authorized for essential firefighting equipment and protective gear for the police department.