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HRA Regular Session <br />Meeting Date: 07/12/2011 <br />By: <br />Darren Lazan, Housing & <br />Redevelopment Authority <br />5. 1. <br />Title: <br />Update on Flaherty and Collins Financing - The Residence at The COR Project (Portions may be closed to the <br />public) <br />Background: <br />Over the past few weeks, work has continued on finalizing financing for the Flaherty and Collins - The Residence at <br />The COR project. City representatives met with Flaherty and Collins representatives at the ICSC conference as well <br />as a representative of the bank financing the deal. Staff, met with Flaherty and Collins and PNC Bank to provide an <br />overview of the project, and a better understanding of major project components. Staff will provide an update of <br />those meetings and a status of the financing during the HRA meeting. <br />Staff will review with the HRA the current structure of financing that is being considered for the Flaherty and <br />Collins project. <br />Staff will review potential deal structure modifications based on discussion above. <br />Notification: <br />Observations: <br />Recommendation: <br />No action required. <br />Funding Source: <br />No funding required for discussion item. <br />Council Action: <br />No HRA Action required. <br />Form Started By: Darren Lazan <br />Form Review <br />Final Approval Date: 06/23/2011 <br />Started On: 07/07/2011 <br />