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2 to Lot Surveys Company, Inc. for services related to the surve� <br /> 3 overlap on property to be acquired for the Kenzie Terrace Redevelopment <br /> 4 Project. <br /> 5 Motion carried unanimously. <br /> 6 NEW BUSINESS <br /> 7 Motion by Ranallo, seconded by Makowske to designate Stuart J. <br /> 8 Bonniwell, CPA, to do the H.R.A. 1987 audit. <br /> 9 Motion carried unanimously. <br /> 10 EXECUTIVE DIRECTOR REPORT <br /> 11 Mr. Childs had distributed copies of the letter from Lang Nelson <br /> 12 reapplying to do the final phases of the Kenzie Terrace Redevelopment <br /> 13 Project contingent upon their financer being able to get surety bonding <br /> 14 within a reasonable time. He pointed out that the Gaughan Company <br /> 15 was also willing to put up a Letter of Credit under the same <br /> 16 conditions and was now waiting to have their application for H.U.D. <br /> 17 credit enhancement cleared. The Executive Director pointed out that <br /> 18 with the bond interest changes in the last few weeks, both developers <br /> 19 are working hard to take advantage of the lower rates. <br /> 20 Mr. Childs indicated Mr. Krier would be meeting with Lang Nelson th� <br /> 21 next day and a special meeting might be necessary within the next few <br /> 22 days to report that meeting. <br /> 23 ADJOURNMENT <br /> 24 Motion by Ranallo, seconded by Marks to adjourn the meeting at 8: 30 <br /> 25 P.M. <br /> 26 Motion carried unanimously. <br /> 27 Respectfully submitted, <br /> 28 Helen Crowe, Secretary <br /> 29 :cjk <br /> • <br /> 2 <br />