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applications and will be given the opportunity to comment. Once <br />the final ranking is accepted by the panel, a list of the <br />recipient loan and grant applicants with the highest rankings <br />will be given to the Metropolitan Council for final approval. <br />After the Council has approved the rankings and the list of <br />recipients, loan and grant offers will be made and negotiations <br />for the agreements will commence. <br />V. OFFERS <br />Offers will be made approximately in the third week in July, <br />1996. A written offer will be sent to each qualifying community <br />that will contain the loan or grant agreement language. Actual <br />award of the loan or grant will be contingent upon City Council <br />action authorizing the agreement between the MCES and City. <br />•:\ Program \Progdno. dco <br />Page 7 <br />Page 27 <br />