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MINUTES FOR THE EDA MEETING OF AUGUST 18,2008 <br /> EDA President Fran Miron called the meeting to order at 8:30 am. <br /> PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Mike Granger, Phil Klein, Brian Thistle <br /> and Fran Miron <br /> ABSENT: None <br /> CITY STAFF PRESENT: City Administrator Mike Ericson, Community Development <br /> Director Bryan Bear, and Associate Planner Rachel Simone <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF JULY 21, 2008 <br /> Denaway made motion, Klein seconded,to approve the minutes for the EDA meeting of July 21, <br /> 2008. <br /> All aye. Motion carried. <br /> 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 Forest <br /> Lake is using industrial revenue bonds to help finance the senior housing facility. Each City <br /> has a limit for bonding revenue of$10 million. The City of Forest Lake has asked the City of <br /> Hugo if they can use a portion of Hugo's bonding authority to help finance the project. Doug <br /> Borglund and Chip Robinson from the City of Forest Lake were present at the meeting and <br /> gave an overview of the project and request. Mary Ippel from Briggs and Morgan was also <br /> present at the meeting. Staff recommended that the EDA make a recommendation to the City <br /> Council on whether or not to allow the City of Forest Lake to use the City of Hugo's bonding <br /> authority to help finance the senior housing facility. <br /> Mary Ippel gave an overview of the project and stated that there is not a risk for the City of <br /> Hugo to allow the City of Forest Lake to use Hugo's bonding authority for this year. <br /> Washington County is also allowing Forest Lake to use a portion of their bonding authority <br /> for the year. <br /> Doug Borglund from the City of Forest Lake talked about the projects importance as Walker <br /> is partnering with the Washington County HRA affordable housing project. He stated that it <br /> will be servicing independent living to assisted living and that the project is a great way for <br /> seniors to transition to different types of care. <br /> Denaway made a motion, seconded by Klein to recommend to the City Council to allow the <br /> City of Forest Lake to use the City of Hugo's bonding authority for the year. <br /> All Aye. Motion Carried. <br />