A20
T he C oast News
NOV. 14, 2014
FOR THE KIDS From left, Optimist Club of Carlsbad Vice President Joe Tosto, Jr., joins members and volunteers Grace Bick, Carol Tosto, Chairwoman Jeannie Esposito; John Chaffin, ninth-grader Flora Wang, and her mom Dana Wang, as they staffed an exhibit at the Carlsbad Village Faire. For more information, contact Club President Irene Chow-Pong at irenechow@yahoo.com or Joe Tosto at (714) 619-1125. Courtesy photo
DMV
CONTINUED FROM A7
a plan in place to replenish them above the threshold in five years. City Manager Jack Griffin said the proposal would pay back the general fund in at least five years, and it could be even faster if the city receives money back from the state as reimbursement for its share of the cost of fighting May’s wildfires, as is expected. “We believe the plan is more simple than the one previously proposed and within the spirit of the partnership,” Griffin said. “It is also the least expensive option in terms of financing.” The original proposal called for the city to loan the partnership $10 million for construction costs, but several council members expressed concern that Lusardi, which is the minority partner in a 60-40 split with the city, was benefitting from the city’s low interest rate. Lusardi representatives, Griffin told the council Tuesday, originally proposed a cash deal, but Griffin said he was hesitant because the reserve picture was not as robust as it currently is. When the council balked on the original plan, Griffin said he returned to Lusardi to see if they were still interested in the cash plan, which they were. The city anticipates reaping $17 million in revenue over the life of the DMV’s 20-year lease. “I think this is a much cleaner deal than what was originally proposed,” said Councilman Chris Orlando, who was one of the council members critical of the first deal.
Fun, fun, fun! Play mini golf • Fun for all ages • Birthday Parties • Group Golf Classes • Date night • Company Team Building
2 OFF
$
with this coupon • regular priced round. Offer valid for up to 4 players
15555 Jimmy Durante Blvd. Del Mar • 858.481.0363 www.pellysminigolf.com