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A I <br />Housing and Redevelopment Authority Meeting Minutes <br />•June 8, 2004 <br />Page 2 <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />I 1 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />0 <br />Motion carried unanimously. <br />2. Consider Resolution 04-009; Approving Fannie Mae Financing for Sliver Lake Village. <br />Ms. Stacie Kvilvang, Ehlers & Associates, Inc., stated on December 19, 2003, the City Council <br />and Housing and Redevelopment Authority (HRA) executed a Development Agreement with <br />Apache Redevelopment, LLC for the redevelopment of the above referenced area. According to <br />Section 12.11 of the Development Agreement, the City and/or HRA would be securing an <br />interim loan in the amount of $3,350,000 from Fannie Mae, to assist in acquiring three (3) <br />commercial property where the for -sale housing would be developed. <br />Motion by Commissioner Faust, seconded by Commissioner Thuesen, to adopt Resolution 04- <br />009; Approving Fannie Mae Financing for Silver Lake Village as presented. <br />V. STAFF REPORTS. <br />None. <br />VI. H.R.A. COMMISSIONER COMMENTS. <br />None. <br />VII. INFORMATION AND ANNOUNCEMENTS. <br />None. <br />VIII. ADJOURNMENT. <br />Chair Hodson adjourned the meeting at 8:20 p.m. <br />Respectfully submitted, <br />Kathy Altman <br />TimeSaver Off Site Secretarial, Inc. <br />Motion carried unanimously. <br />