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City Council Regular Meeting Minutes October 11, 1994 Page 3 1 that area were explained. He related that part of these properties may be available for public use 2 after clean-up is complete. 3 He reported of a growing interest by residents for the development of an exchange program 4 between students in St. Anthony and Salo, Finland. A St. Anthony resident who grew up in _ 5 Finland, called and expressed interest for her son to visit Finland. Marks is exploring the options 6 available for this type of program. 7 Enrooth reported his attendance at the Environmental Recycling Committee meeting last 8 Thursday night. The Committee is hoping to have some suggestions by the end of the year. C. City Manager. City Manager Mornson had no report at this time. 10 11 VIII. PUBLIC FEARING. 12 A. Redevelopment Plan/Funding for H.R.A. Purchase of 3111 Silver Lake Road 13 (Resolution 94-050 14 At 7:16 P.M. Mayor Ranallo opened the public hearing for a resolution approving the St. 15 Anthony Housing and Redevelopment Authority Plan for 3111 Silver Lake Road and authorizing 16 the use of H.R.A. Funding. 17 Ranallo explained the process of purchasing the property, demolishing the home and then selling 18 the lot for redevelopment. He stated that the goal was to increase the value of the property, thus 19 increasing the tax base and hopefully bring more children into the school district. 20 Motion by Marks, second by Enrooth to close the public hearing at 7:19 P.M. 21 Motion carried unanimously. 22 The City Manger reported that the current owner holds the property by contract for deed. When 23 the city receives a clear title from the owner, they will schedule a closing on the home. The staff 24 will then market the property. IP5 Marks reviewed the financial worksheet indicating when this expenditure will be paid back to the 26 City and other taxing districts.