I actually think that this is incorrect. I think they have 30 days to submit their petition for a referendum. You then need a number of days to setup the referendum vote and to execute on that.
I would anticipate that this would drag the date well beyond the Jan 31st deadline. Depending on how long it would take to get the signatures, they could even submit the referendum petition prior to the deal being signed by Skeete. Either way I think this comes back to a vote by the new council. I just don't see, given all of the hurdles that we know exist out there, that this gets wrapped up be Jan 31st or the 15th for that matter when the new council comes in an overturns this vote.