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It needs to be reiterated that adding maintenance costs at this time must be addressed as part of any plan or scope of <br />improvements for North Commons - and this will be the subject of discussion with City Council. <br />The HRA currently has a policy for the distribution of proceeds from land sales within The COR. If the HRA <br />wishes to dedicate the remaining proceeds from these sales to make certain park improvements, they should revise <br />the proposed policy as it relates to these sales and direct staff accordingly. <br />Recommendation: <br />The development management team recommends the HRA consider the proposed development of residential lots <br />on the subject HRA property and if acceptable, approve the proposed plan and direct the team to pursue the sale of <br />these lots for single family homes sites. <br />The development management team further recommends the HRA consider what portion of the proceeds of these <br />sales, after the currently prescribed distributions to inter -fund loans, be allocated to initiating certain park <br />improvements. <br />Funding Source: <br />The subject of this case is to consider the generation of funds through land sales - to be directed for park <br />improvements. <br />Council Action: <br />Based upon discussion - motion to recommend that the HRA create, develop and sell, new residential lots in and <br />around 'North Commons' for the purpose of initiating certain park improvements. <br />location map <br />proposed residential lots in and near N. Commons <br />aerial image <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 04/21/2011 04:33 PM <br />Form Started By: Darren Lazan Started On: 04/08/2011 <br />Final Approval Date: 04/21/2011 <br />