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I I I <br /> 9 <br /> MEMORANDUM DRAFT <br /> • <br /> DATE: November 22, 1995 <br /> TO: Mayor and Councilmembers <br /> FROM: Michael Mornson, City Manager <br /> ITEM: UPDATE ON HOUSING REDEVELOPMENT POLICY <br /> Enclosed is a proposed policy on providing HRA funding for residential <br /> redevelopment in St. Anthony. Under the new policy, the HRA has the ability <br /> to purchase property or provide HRA funding after a developer purchases the <br /> property. <br /> The benefit of the latter is that there would be no risk for the City. The <br /> developer purchases the property, not the City. <br /> • If you have any questions, please contact me. <br /> • <br />