Typically I have no problem with extending negotiations especially when we're talking this amount of money.
What DOES concern me though, is that this puts it past the November elections, meaning we'd have to have a special election. This is probably the monies Cheatham was talking about at the last council meeting.
This leads me to believe Wilmington has already granted the extension, and that Cheatham knew this when he estimated the cost of adding this to an election ballot.
This furthers the city's goal of turning voters feelings against Fulton McCoy - who had the "audacity" to challenge the officials of this city (and won). They can now use "the cost" of a special election against them.
Personally I also think they have enough information to make the decision and all they have to do is tell Mandalay/Braves that the voters will decide. Mandalay can then come in with the biggest best offer they possibly can in order to influence the voters attitudes towards this proposal prior to the election.
More information about formatting options