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MEMORANDUM <br /> DATE: May 19, 1995 <br /> TO: Mayor and.Councilmembers <br /> FROM: Michael Mornson, City Manager <br /> ITEM: H.R.A. DEVELOPMENT UPDATES <br /> 1. 3111 Silver Lake Road <br /> Larry Beach plans to start construction of a house is June. <br /> 2. 2nd Vacant Lot by Coolidge <br /> The Stafford's, who purchased the property from the City in February, plan on <br /> building a house over the summer. <br /> 3. Roger Bona Gas Station <br /> He plans to demolish building on Kenzie and construct repair garage. He wanted to <br /> know if City would assist with a berm. <br /> 4. American Monarch <br /> Have deposited check for $5,000 with the City. A tentative developer's agreement to <br /> be approved on June 27th for $125,000 in assistance in return for keeping value at <br /> $1.2 million and 67 jobs. <br /> 5. Nedegaard Twin Homes <br /> Have deposited check for $5,000 with the City. A tentative developer's agreement to <br /> be approved June 27th for $150,000 in assistance for $1.5 million in value increase <br /> and $30,000-$35,000 in taxes. <br /> 6. MAKO/Olson Property <br /> Have deposited check for $5,000 with the City. A tentative developer's agreement to <br /> be approved on June 27th for $240,000 in assistance for a $2.4 million increase in <br /> value and $40,000-$45,000 in taxes. <br /> 7. Bowling Alley <br /> A check for $5,000 has been deposited with the City. A tentative developer's <br /> agreement.will be considered June 27th for assistance in return for an approximate <br />