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ql <br />• <br />Ca <br />• <br />1 it would be better for all concerned if the H.R.A. had all the <br />2 necessary documents before them for approval. <br />3 The Executive Director indicated Mr. Brewer had assured him that <br />4 Lang -Nelson had agreed to all the terms and conditions in the revised <br />5 Development Contract in the H.R.a. agenda packet but the lending <br />6 agency has a few more things they want to talk to the developers <br />7 about before signing an agreement to finance the project. Mr. Brewer <br />8 told Mr. Childs the project was still "very much alive" and he was <br />9 certain it wouldn't be long before the developers would be entering <br />10 into the agreement to construct the third phase of the Kenzie Terrace <br />11 Redevelopment Project. The Executive Director said he perceived the <br />12 delay was more a matter of moving at the bank in question's speed <br />13 than either the City's or Lang -Nelson's. <br />14 H.R.A. Review of Preliminary Draft of Evergreen Townhouses Tax <br />15 Increment Plan <br />16 The H.R.A. members had been provided copies of Mr. Krier's memorandum <br />17 on the above as well as the Tax Increment Financing Plan. Mr. Krier <br />18 was concerned about a glitch in the 1988 tax increment law regarding <br />19 mill rates, however, the Executive Director indicated he had since <br />20 learned that the Minnesota League of Cities had gotten an opinion <br />21 from the Attorney General which appeared to indicate that the <br />22 counties should ignore the problem as it will be corrected in the <br />23 next session. Mr. Childs indicated he was therefore recommending the <br />24 H.R.A. schedule a public hearing on the Plan for August 23rd. The <br />25 draft Plan will be referred to the county, school district and City <br />26 Planning Commission for comment and the City for final action. <br />27 H.R.A. Action <br />28 Motion by Marks, seconded by Enrooth to acknowledge receipt of the <br />29 Preliminary Draft of the Tax Increment Plan for Evergreen Townhouses <br />30 and to schedule a public hearing on the Plan during the H.R.A. August <br />31 23, 1988 meeting, as recommended by the Executive Director. <br />33 <br />34 Motion by Ranallo, seconded by Marks to adjourn the St. Anthony <br />35 Housing and Redevelopment Authority meeting at 10:25 P.M. <br />36 <br />37 Respectfully submitted, <br />38 Helen Crowe, Secretary <br />4 39 :cjk <br />is <br />2 <br />