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2 Housing and Redevelopment-Authority Meeting Minutes June 27, 2000 Page 2 1 the City of St. Anthony Business Subsidy Policy attached hereto and on behalf of the City of 2 St.Anthony. 3 Motion carried unanimously. 4 B. Review Business Terms with Hillcrest on Tax Increment Financing Issues. sues. 5 Executive Director Michael Mornson introduced Paul Steinman, Springsted, Public Finance 6 Advisors, and invited him to address the Commission. 7 Mr. Steinman directed the Commission's attention to his memorandum of June 20, 2000, a copy 8 of which is included with the Council's agenda package. 9 Mr. Steinman reviewed the memorandum, which outlined the deal points regarding the Hillcrest 10 redevelopment proposal for the Apache Plaza. Previous discussions with the developer and 11 H.R.A. have resulted in a conceptual project package, which was identified in the memorandum 12 in detail. 13 Various discussion ensued between the Councilmembers and Mr. Steinman regarding the details 14 of the redevelopment proposal. 465 Executive Director Michael Mornson handed out information regarding the Tax Increment Plan, 6 which will be reviewed and considered by the Council on July 25, 2000 at a public hearing. 17 Cavanugh inquired if, as a general practice, a summary or a cover letter of sorts could be 18 included with a document of substantial size in order to guide the Commissioners through the 19 document. 20 Bob Strakoda, an appraiser, approached the Commission and reassured the members that 21 . Hillcrest is working towards the best possible solution and performance for the redevelopment. 22 VI. STAFF REPORTS. 23 None. 24 VII. H.R.A. COMMISSIONER COMMENTS. 25 None. 26 VIII. INFORMATION AND ANNOUNCEMENTS. 27 None. 28 IX. ADJOURNMENT. 29 Motion by Hodson to adjourn at 11:25 p.m. �0 Motion carried unanimously.