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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 />