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-2- <br /> ownership of it at that time anyway . He told the H.R.A. members the <br /> Arkand Letter of Credit would cover Walker-Methodist as well . The <br /> Director then reported a mutual agreement between the H.R.A. and <br /> Walker-Methodist that the sponsor would pay a fee in lieu of real <br /> estate taxes if it should later be determined that 202 projects are <br /> not subject to such taxes . Mr . Gilligan indicated H.U. D. had been <br /> informed of the agreement and had raised no objections to it at this <br /> time . <br /> Motion by Secretary/Treasurer Marks and seconded by Commissioner <br /> Ranallo to adopt the third amendment to the H.R.A. Redevelopment <br /> Contract with the Arkand Partnership , as proposed by staff , contin- <br /> gent upon H. U.D. approval of the arrangement whereby Walker--Methodist <br /> agrees to pay fees which would reimburse the H.R.A. for the real <br /> estate taxes which would be lost if it is later determined 202 pro- <br /> jects are not subject to that type of taxation. <br /> Motion carried unanimously. <br /> Ms . Gabler indicated the 202 application would be made April 30th <br /> and she agreed to keep the staff informed as to when the Metro <br /> Council would be acting on that application. The City ' s representa- <br /> tive- on 'the Metro Council had promised to give -a favorable review <br /> to the application , according to Mr. Childs . <br /> Motion by Commissioner Ranallo and seconded by Vice Chair Enrooth <br /> 'to adjourn the meeting at 9 : 05 P .M. <br /> Motion carried unanimously. <br /> Respectfully submitted, <br /> Helen Crowe , Secretary <br />