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i <br /> MEMORANUTINI <br /> DATE: September 15, 1995 <br /> TO: Roger Larson, Finance Director <br /> FR0:1T: Michael Morrison, City Manager <br /> • ITEM: THE ARBORS DEVELOPMENT PROJECT <br /> As part of the Redevelopment Agreement with Arnie Gregory, the HRA agreed <br /> to pay to Mr. Gregory at the time of closing, which will occur either September <br /> 15 or 18, $2,000.00 for alley improvements and $70,000 for a portion of the <br /> land cost. The $70,000 should come out of the TIF fund balance as we <br /> discussed earlier, and the $2,000 should come out of the HRA project fund. <br />