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MINUTES <br />CITY COUNCIL <br />SEPTEMBER 9, 1992 <br />The foregoing resolution was duly seconded by LaValle. <br />Ayes (4) Blesener, LaValle, Hanson, Collova. <br />Nays (0). Resolution declared adopted. <br />Mr. LaValle introduced the following resolution and <br />moved its adoption: <br />RESOLUTION NO. 92-9-305 - GIVING PRELIMINARY APPROVAL <br />TO A PROPOSED HEALTH CARE FACILITIES PROJECT AND THE <br />ISSUANCE BY THE CITY OF REVENUE BONDS THEREFORE ON <br />BEHALF OF THE PRESBYTERIAN HOMES OF MINNESOTA, INC. <br />UNDER THE MUNICIPAL INDUSTRIAL DEVELOPMENT ACT AND <br />AUTHORIZING SUBMISSION OF AN APPLICATION TO THE <br />MINNESOTA DEPARTMENT OF TRADE AND ECONOMIC DEVELOPMENT <br />FOR APPROVAL THEREOF SUBJECT TO ALL COSTS SAVINGS <br />REALIZED FROM THE COMBINED BOND ISSUE ACCRUING TO THE <br />LITTLE CANADA PROJECT AND SUBJECT TO PRESBYTERIAN HOMES <br />ENTERING INTO A DEVELOPMENT AGREEMENT WITH THE CITY <br />The foreqoing resolution was duly seconded by Blesener. <br />Ayes (4) LaValle, Blesener, Hanson, Collova. <br />Nays (0). Resolution declared adopted. <br />The City Administrator reported that Presbyterian Aomes <br />is looking to raise a$450,000 equity contribution to <br />the project for the benefit of prospective tenants. To <br />date, $230,000 has been raised. The Administrator <br />reported that Presbyterian Homes has asked if he would <br />introduce them to the charitable organizations within <br />the City. <br />Blesener stated that he has no problem with the <br />Administrator introducing Presbyterian Homes and <br />confirming the project is City supported through TIF <br />assistance, County block grant funds and City approval <br />of the issuance of housing revenue bonds. Blesener <br />noted that the City originally sent out Requests For <br />Proposals for a senior project. <br />LaValle stated that he was concerned with the City <br />getting involved in fund-raising for private <br />organizations. <br />Blesener noted that the request is for the City to <br />introduce Presbyterian Homes, not for the Administrator <br />to ask for funds. <br />LaValle stated that the Administrator going to the <br />charities and asking for funds for a project like this <br />could be interpreted by the charities that it is <br />Page 5 <br />