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1 Director said he wasn't certain just how distributions from such an <br /> 2 account would be handled and his only purpose in bringing the matter up • <br /> 3 that evening was to ascertain their interest in the concept itself. <br /> 4 Vice Chair Enrooth indicated he perceived that by making interest free <br /> 5 loans or loan guarantees to these tenants, the City would be assuring <br /> 6 the return of the funds for use on other deserving projects later on. <br /> 7 Commissioner Ranallo recalled that the City had allowed the owners of <br /> 8 Apache Plaza to use the City's good name to get bonding for their <br /> 9 redevelopment project and helping these merchants to get financing in <br /> 10 this redevelopment area wouldn't be much different as long as a need <br /> 11 criteria is established and the funds are returned for use with other <br /> 12 projects. Staff was instructed to return with a specific proposal for <br /> 13 establishing such an account for further H.R.A. consideration. <br /> 14 ADJOURNMENT <br /> 15 Motion by Marks, seconded by Enrooth to adjourn the St. Anthony Housing <br /> 16 and Redevelopment Authority meeting at 9 : 10 P.M. <br /> 17 Motion carried unanimously. <br /> 18 Respectfully submitted, <br /> 19 Helen Crowe, Secretary <br /> 20 :cjk <br /> 2 • <br />