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STAFF REPORT <br /> PAGE TWO OF TWO <br /> DECEMBER 27, 1993 <br /> I have invited representatives from Westminster to come to the Work <br /> Session to present their preliminary proposal to the Council and <br /> share with the Council information regarding their organization and <br /> their past track record in the area of senior housing. <br /> There are several areas which the Council should consider as they <br /> listen to the Westminster proposal: to what extent is low-mod <br /> income senior rental housing the best use for the property and is <br /> it consistent with the overall plan for the City; to what extent <br /> does the Council desire that the-corner -be--developed-- should- it <br /> include the Win Insurance property as well as the adjacent property <br /> owned by Kraus-Anderson. <br /> The Westminster proposal is very preliminary - we have had just one <br /> meeting, but they appear to be very interested in the site and need <br /> now to get a better understanding of what the Council envisions for <br /> the site. They have not presented the staff with a formal proposal <br /> and request for TIF assistance, nor has the staff seen a financial <br /> pro-forma. If the Council is receptive to the preliminary proposal, <br /> Westminster will no doubt proceed to the next phase of the proposal <br /> process. <br />