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BACKGROUND MEMO FOR THE EDA MEETING OF <br /> MONDAY, AUGUST 18, 2008 <br /> 3. Approval of Minutes for EDA meeting of July 21, 2008 <br /> City staff recommends that the EDA approve the minutes for the July 21, 2008 EDA <br /> meeting as presented. <br /> 4. Walker Elder Care Services <br /> Walker Elder Care Services is proposing to construct a 206 unit independent and assisted <br /> living senior housing facility in Forest Lake. The project has been approved by the Forest <br /> Lake City Council. Attached is Forest Lake's staff report on the project. The City of <br /> Forest Lake is using industrial revenue bonds to help finance the senior housing facility. <br /> Each City has a limit for bonding revenue of$10 million. The City of Forest Lake has <br /> asked the City of Hugo if they can use a portion of Hugo's bonding authority to help <br /> finance the project. Doug Borglund and Chip Robinson from the City of Forest Lake will <br /> be present at the meeting to give an overview of the project and request. Mary Ippel from <br /> Briggs and Morgan will also be present at the meeting to answer any questions. Staff <br /> recommends that the EDA make a recommendation to the City Council on whether or not <br /> to allow the City of Forest Lake to use the City of Hugo's bonding authority to help <br /> finance the senior housing facility. <br /> 5. Northland Pallet Company <br /> Northland Pallet Company has purchased and is now running its business out of the old <br /> 84 Lumber building. Northland Pallet is a company that constructs pallets and recycles <br /> pallets into mulch. The company moved from Minneapolis to Hugo. Mitch Martin from <br /> Northland Pallet will be present at the meeting to talk about his business and answer <br /> questions that the EDA may have on the business. Staff recommends that the EDA <br /> welcome Northland Pallet as a new business in Hugo. <br /> 6. Update on BR&E Subcommittee <br /> Staff will update the EDA on the BR&E subcommittee meetings. <br /> 7. Discussion on EDA Marketing Strategy <br /> In 2007 the EDA created a marketing strategy work plan. Staff will go through the work <br /> plan and discuss with the EDA on what has been completed to date. <br /> 8. Update on Downtown Redevelopment <br /> Staff will update the EDA on the progress of downtown redevelopment. <br />