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HRA Special Session Meeting Date: 05/17/2011 By: Jo Thieling, Administrative Services Title: Discuss Policy for Disbursement of Land Sale Proceeds in The COR Background: Throughout the first year of work on The COR, there have been ongoing discussions on a policy for the disbursement of proceeds from land sales within The COR. The project currently carries several inter -fund loans for the initial purchase as well as the outstanding assessments, previous infrastructure, and upcoming infrastructure projects. The HRA has, in the past, expressed an interested in establishing a policy to guide the disbursement of eventual proceeds to repay those loans and to fund upcoming expenses. The original draft of the proposed policy was prepared prior to the establishment of The COR TIF district which now contemplates funding many of the past and future expenses in the first draft of the disbursement policy. Staff will review the proposed policy with the HRA during the meeting. Recommendation: Staff recommends the HRA consider the proposed disbursement policy, provide input, and direct staff to prepare a final draft policy for consideration at an upcoming regular HRA meeting. Funding Source: N/A Council Action: N/A Land Sale Proceed Spreadsheet Attachments Form Review Inbox Reviewed By Date Heidi Nelson Heidi Nelson 05/12/2011 03:14 PM Form Started By: Jo Thieling Started On: 05/12/2011 11:50 AM Final Approval Date: 05/12/2011 5.2.