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In the past, the HRA portfolio has been managed.with a long-term philosophy. The <br /> maturity of the investments was matched to Community Center bond payments and the <br /> expiration of the District. <br /> The restrictions.placed on the Kenzie District forced the City to restructure its Tax <br /> Increment Finance Plan, making Chandler District the primary funding source for tax <br /> increment financing projects and Kenzie as the funding source for the Community <br /> Center bonds. <br /> Sale of investments subjects the par value (amount of principal at time of purchase) to <br /> market conditions, which could mean a gain or loss in the original principal. If it is <br /> the wish of Council to go forward, I will immediately begin the process of monitoring <br /> the investment portfolio with the commitment to liquidate $500,000. <br /> The goal would be to perform daily analysis on the value of the instruments and <br /> liquidate those that can be sold at par value or above. To avoid losses in principal, the <br /> process may take 6 months or longer to complete. <br />