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+ /Q <br /> DRAFT <br /> • <br /> MEMORANDUM <br /> DATE: November 22, 1995 <br /> TO: Builders and Developers in the City of St. Anthony <br /> FROM: Michael Morrison, City Manager <br /> ITEM: HRA FUNDS FOR REDEVELOPMENT OF RESIDENTIAL <br /> LOTS <br /> • This is to inform you that the City of St. Anthony Housing and Redevelopment Authority <br /> (HRA) has funds available for the redevelopment of residential property. The City can provide <br /> up to $15,000 for the redevelopment of residential property, provided the conditions outlined in <br /> the enclosed St. Anthony HRA policy are met. <br /> The most recent HRA projects have been located at 3111 and 3112 Silver Lake Road. Two <br /> new homes were constructed at a minimum value of$150,000 each. In these cases, the City <br /> purchased the properties and resold them to an interested developer to clear the property and <br /> build two new houses. <br /> In the new policy, the developer would purchase the house, clear the property and build a new <br /> house. If the developer meets the City's policy, up to $15,000 could be received. <br /> Because a public hearing by the City Council is required, if you are interested in applying for <br /> HRA project funds you need to schedule a meeting with City staff. <br /> • <br />