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considered to be project earnings and were deducted by EPA in <br />arriving at reimbursements due the project at the time <br />reimbursements were being requested and earnings were being <br />derived from these funds. <br /> <br />In summary, the Board of Aldermen would like to resolve the <br />Rocky River projeot by accepting a compromise settlement <br />amount of $232,107 arrived at as follows: <br /> <br />Balance due city of Concord on <br /> Rocky River project $ 413,098 <br /> <br />Less: A portion of disallowed costs 130,688 <br />Less: Bank note interest expense 6,177 <br />Less: Additional sales tax refunds 44,126 <br />Acceptable balance due city of Concord $ 232,107 <br /> <br />The Board feels they are being more than fair in proposing <br />this settlement of the Rocky River project. As I've <br />mentioned, the Board sincerely wishes to have this project <br />resolved so that both Boards can concentrate on other issues <br />requiring their joint attention. <br /> <br />I look forward to hearing from you soon regarding this <br />matter. <br /> <br />Sincerely, <br /> <br />Leonard B. Sossamon <br />City Manager <br /> <br /> <br />