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r1 <br />I City of St. Anthony <br />2 Housing and Redevelopment Authority Minutes <br />3 May 24, 1994 <br />4 Page 2 <br />5 B. City of St. Anthony General Fund, <br />6 City of St. Anthony General Fund in the amount of $24,039.20 for expenses <br />7 incurred regarding the 27th and Coolidge Avenue project. <br />0 <br />9 VI. TAX INCREMENT FINANCING/EVERGREEN TOWNHOMES. <br />10 <br />It has been recommended by Jerry Gilligan of Dorsey & Whitney and Bob Thistle of <br />11 <br />Springsted, Inc., that payment on the Evergreen Tax Increment Financing District, less <br />12 <br />administration costs incurred by the H.R.A., be paid to Norwest Investment Services, <br />13 <br />Inc., with a set 10% of each years' revenue to be retained for administrative expenses. <br />0 <br />It was also noted that this payment will be made annually until the debt is retired. <br />15 <br />Motion by Marks, seconded by Enrooth to approve payment to Norwest Investment <br />16 <br />Services, Inc. in the amount of $50,173.09 ($55,747.88 less $5,574.79 administrative <br />17 <br />expenses). <br />m <br />19 VII. ADJOURNMENT. <br />20 Motion by Marks, seconded by Fleming to adjourn the H.R.A. at 8:55 P.M.. <br />21 <br />22 Respectfully submitted, <br />23 Connie Kroeplin <br />24 City Clerk <br />25 <br />0 <br />