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Councilor Clark agreed with the need for a discussion of the larger policy questions involved in addressing <br />City office space needs. He noted that the City had issued a request for quotes, not a request for proposals, <br />which was a substantive difference. He said the cost of project financing for a private developer was <br />between six and seven percent, while the City’s bond rate was five percent. He questioned why the City did <br />not develop the project. <br /> <br />The meeting adjourned at 10:05 p.m. <br /> <br />Respectfully submitted, <br /> <br /> <br /> <br /> <br />Jon Ruiz <br />City Manager <br /> <br />(Recorded by Lynn Taylor) <br /> <br /> <br />MINUTES—Eugene City Council May 19, 2008 Page 12 <br /> Public Hearing <br />