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Ehlers and discussed the financing that is under consideration. What the bank proposes for their <br />loan amount will be a large factor in the financing. <br /> <br />Development Manager Lazan added the bank gained more trust in the market and this project. <br />He explained County Commissioner Look was involved in the meeting as well. Discussion took <br />place on how the TIF dollars would work and the participants also learned the importance of the <br />rail stop to the project. <br /> <br />Commissioner Tossey asked what the closing date is. <br /> <br />Development Manager Lazan answered it is July 15, which is the last date to opt out. <br /> <br />City Administrator Ulrich confirmed this item raises a lot of discussion. He said he will present <br />this project as an investment opportunity to the HRA. An overview of the project and possible <br />financing for the ramp will be on the next HRA meeting agenda. He stated the City will present <br />a proposal that does not use any of the General Obligation Fund. <br /> <br /> <br /> <br />Executive Director Nelson presented the following: <br /> <br />Five builders submitted bids for the parking ramp. Adolphson Peterson proposed a bid of $2.896 <br />million. The bids will be presented at the next Council meeting, and there are 60 days to award <br />the bid. <br /> <br />Some employees are participating in the Unity/Mercy event on July 11. <br /> <br />P <br />weekends in August and they are looking for volunteers to sign up for shifts. <br /> <br />Tuesday, August 16, is the City EDA golf events. This is the same day as the election for the <br />new Councilmember. She noted she will bring the marketing effort forward. <br /> <br />TIF Certification is going forward to the County this week. <br /> <br />The Holiday StationStore is torn down. <br /> <br />The sign for The Core is installed and the electrical will be run underground. <br /> <br />The Concert at the Draw will be Big Walter Smith this Thursday at 7:00 p.m. to 8:30 p.m. <br />Parking could be an issue. <br /> <br />Executive Director Nelson and Development Director Lazan had taped a show on QCTV <br />regarding The COR. <br /> <br />City Administrator Ulrich noted the first race scheduled at the new raceway is planned for July 8. <br />Housing and Redevelopment Authority / June 21, 2011 <br />Page 4 of 5 <br /> <br />