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-2 - <br />Chairman Sundland said he thought the H.R.A. would be perceived <br />as only keeping its options at the same time discussions were <br />proceeding with another developer to do the project. Vice Chair <br />Enrooth agreed that no developer would undertake the project <br />until the market study the H.R.A. had ordered at their last <br />meeting would be completed. <br />Mr. Childs indicated Maxfield Research Group was doing the study <br />and their proposal was to have the study done within 45 days but <br />he was fairly certain he could get them to do it in 30 days. <br />Mr. Soth reported that the Arkand attorney had told him they had <br />met with Piper Jaffray, Inc. and had been told the investment <br />house could place eight million dollars of the Multifamily <br />Housing Bonds which would cover all the costs of the first half <br />of the remaining phases. The H.R.A. Attorney said he could only <br />recommend staying with Arkand for a very short time. <br />Mr. Childs and several H.R.A. members reported their <br />conversations with Bloomington Councilmember Neil Peterson, who <br />was now working for Arkell Development and the Executive Director <br />indicated he had met with Mr. Peterson the previous Friday about <br />what his role in the development would be. <br />is <br />H.R.A. Action <br />Motion by Marks, seconded by Ranallo to table the termination of <br />Arkand Partnership as Redeveloper for Phases II and III of the <br />Kenzie Terrace Redevelopment Project. <br />Voting on the motion: <br />Aye: Marks, Ranallo, and Sundland. <br />Nay: Makowske and Enrooth. <br />Motion to table carried. <br />Consulting Sery <br />Mr. Childs had provided copies of the proposal to do the above <br />from Dick Krier of Development Advisory Services. The <br />Executive Director reminded the H.R.A. members how well Mr. Krier <br />had worked with developers at the outset of the project. He said <br />what he only needed Mr. Krier to do would be to seek out <br />developers and to put the developer's agreement package together. <br />Commissioner Ranallo indicated he would certainly approve Mr. <br />Krier's retention in that capacity even though he had been the <br />consultant's biggest critic for being tardy in the past in <br />• getting information to the H.R.A. for public hearings. <br />