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1 it would be better for all concerned if the H.R.A. had all the <br /> 2 necessary documents before them for approval . • <br /> 3 The Executive Director indicated Mr. Brewer had assured him that <br /> 4 Lang-Nelson had agreed to all the terms and conditions in the revised <br /> 5 Development Contract in the H.R.a. agenda packet but the lending <br /> 6 agency has a few more things they want to talk to the developers <br /> 7 about before signing an agreement to finance the project. Mr. Brewer <br /> 8 told Mr. Childs the project was still "very much alive" and he was <br /> 9 certain it wouldn't be long before the developers would be entering <br /> 10 into the agreement to construct the third phase of the Kenzie Terrace <br /> 11 Redevelopment Project. The Executive Director said he perceived the <br /> 12 delay was more a matter of moving at the bank in question's speed <br /> 13 than either the City's or Lang-Nelson's. <br /> 14 H.R.A. Review of Preliminary Draft of Evergreen Townhouses Tax <br /> 15 Increment Plan <br /> 16 The H.R.A. members had been provided copies. of Mr. Krier's memorandum <br /> 17 on the above as well- as -the Tax Increment Financing _Plan. Mr. Krier <br /> 18 was concerned about a glitch in the 1988 tax increment law regarding <br /> 19 mill rates, however, the Executive Director indicated he had since <br /> 20 learned that the Minnesota League of Cities had gotten an opinion <br /> 21 from the Attorney General which appeared to indicate that the <br /> 22 counties should ignore the problem as it will be corrected in the <br /> 23 next session. Mr. Childs indicated he was therefore recommending the <br /> 24 H.R.A. schedule a public hearing on the Plan for August 23rd. The <br /> 25 draft Plan will be referred to the county, school district and City® <br /> 26 Planning Commission for comment and the City for final action. <br /> 27 H.R.A. Action <br /> 28 Motion by Marks, seconded by Enrooth to acknowledge receipt of the <br /> 29 Preliminary Draft of the Tax Increment Plan for Evergreen Townhouses <br /> 30 and ,to schedule a public hearing on the Plan during the H.R.A. August <br /> 31 23 , 1988 meeting, as recommended by the Executive Director. <br /> 32 Notion carried unanimously. <br /> 33 AD�TOURNNENT <br /> 34 Motion . by Ranallo, seconded by Marks to adjourn the St. Anthony <br /> 35 Housing and Redevelopment Authority meeting at 10 : 25 P.M. <br /> 36 Notion carried unanimously. <br /> 37 Respectfully submitted, <br /> 38 Helen Crowe, Secretary <br /> 39 :cjk <br /> 2 • <br />