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Housing and Redevelopment Authority Meeting Minutes November 30, 1999 Page 6 ' 1 Ranallo stated that Mr. Krier should put together all of the figures and documentation. Morrison 2 suggested an open dialogue with the Shopping Center owners about the City's concern. 3 Thuesen said some Commissioners are more comfortable with project than others, but that it 4 would be a reasonable idea to take a few steps back. Thuesen stressed the importance, however, 5 of all the Commissioners getting on the same page and have a strong understanding of the project 6 and the position in which it places the City. He stated that the H.R.A. would do the best job pos- 7 sible in working with the process and ensuring that the project could work satisfactorily for all 8 parties. 9 Ranallo suggested the possibility of having a worksession on Tuesday, December 7, 1999 to re- 10 view figures and discuss options and possibilities. Accordingly, on December 16, 1999 at the 11 H.R.A. meeting, the project could be finalized if terms and conditions are acceptable to all 12 parties. 13 Faust stated he would be comfortable with the Letter of Understanding if a bottom line figure had 14 been stated. 15 Ranallo confirmed that December 7, 1999 at 7:00 p.m. would be an extra worksession to ' 16 consider and review possibilities for the Shopping Center project. 17 Mr. Krier stated that he would be able to provide documentation to Executive Director Michael 18 Mornson on Monday, December 6, 1999. 19 Marks asked if The Hitching Post Letter of Understanding should be addressed further at this 20 meeting. 21 Mr. Krier stated that a possibility for the H.R.A. would be to review both Letters of Understand- 22 ing at the worksession on December 7, and then finalize the documents at the meeting on 23 December 16, 1999. City Attorney Soth stated that he would be available to attend the workses- 24 Sion on December 7, 1999. 25 Marks confirmed that the H.R.A. could not be reviewing or considering the Letter of Under- 26 standing with The Hitching Post any further at this meeting. 27 Mr. Krier directed the Commissioners' attention to a proposed outline of a Developers Agree- 28 ment and continued by reviewing each Article and Section included in the proposal. 29 Faust asked if the Developers Agreement would be solely for the purchase of the land. He clari- 30 fied that at the last H.R.A. meeting, he had spoken about preserving the community's interest by ' 31 incorporating into the documents an assessment agreement. He strongly suggested that such an 32 agreement be considered and developed.