The Board of Commissioners met in special session at 5:05 p.m., at the Holiday Inn South Convention Center, Ballroom B, 6820 S. Cedar Street, Lansing, Michigan. The meeting was called to order by the Chair, Ernest Christian.

Present: Commissioners Rosemarie Aquilina, Ernest Christian, Charles Creamer,

Joseph Graves, Jr., David O’Leary, Peter Pratt, Diane Royal and Judson Werbelow.

Absent: None

Others Present: General Manager Joseph Pandy, Staff Attorney Larry Wilhite, Communications Director

John Strickler, Corporate Secretary Mary Sova, Developer Joel Ferguson of Capitol

Outlook, L. L. C., and Attorney Patrick Reid of Reid & Reid.

A quorum of the Board was present.

Chairperson Christian called the meeting to order at 5:05 p.m.

The purpose of the special meeting was to consider an Option to Purchase Agreement for the sale of the Board of Water and Light main office building at 123 W. Ottawa Street and 221 N. Capitol Avenue parking lot to Capitol Outlook, L. L. C.

Upon review and discussion on the terms of the Option to Purchase Agreement submitted to the Board of Commissioners at the meeting, the following resolution was offered:

RESOLVED, That the Board of Water and Light enter into an Option to Purchase Agreement with Capitol Outlook, L.L.C. in the form submitted to the Board of Commissioners for the sale of Board of Water and Light property located at 123 W. Ottawa Street and 221 N. Capitol Avenue, with the changes in Section (6) as discussed.

RESOLVED FURTHER, That the General Manager and Corporate Secretary be authorized to execute the Option to Purchase Agreement on behalf of the Board.

General Manager Pandy noted that a $50,000.00 payment for the option has been received.

Following discussion, the motion was carried.

On motion by Commissioner Werbelow, seconded by Commissioner Pratt, the Board adjourned

at 5:25 p.m.

/s/ Mary Sova, Secretary