The Flemingsburg City Council held a special meeting Wednesday, December 7, 2005 at 5:30 p.m. in the City Annex. Council members present were Marty Voiers, Carl Haight, Nancy Suit, Meredith Story, and Scott Manning. Councilwoman Georgianna Sparks was absent. Mayor Louie K. Flanery presided.

Councilman Story led the Pledge of Allegiance. Steve Miller with BTADD addressed Council regarding funding on the Fischer Building. Miller stated that the tax credit funds received were $120,000 less than expected due to the treatment of the block grant. It was recommended that the block grant be changed to a 40 year deferred loan to receive the full benefit of the tax credits. Miller stressed that the project would stand good for the loan; there would be no recourse against the City.

Councilman Story moved to authorize the mayor to change the structure of the loan on the Fischer Building so funds could flow to the appropriate entities noting that the change would not create any financial obligation for the City. Councilman Manning seconded the motion. All were in favor.

There being no further business, Councilman Manning moved to adjourn. Councilman Haight seconded the motion. All were in favor.

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Louie K. Flanery, Mayor

ATTESTED:

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Joy Story Roark, City Clerk