Laserfiche WebLink
HRA Executive Director Nelson responded that we have a capacity of about $10 -12 million <br /> today. <br /> Chairperson Elvig stated one of the important factors to keep in mind is we need to build more <br /> equity in The COR to get that bonding level up. If this project can cash flow itself, we don't <br /> need to come back on it. <br /> Chairperson Elvig also stated a key factor for him is getting them to constantly keep bringing <br /> more equity back to the table. He suggested keeping a tri -party agreement open. <br /> Mr. Lazan reviewed the schedule as August 9 for the day to get substantial progress on the <br /> documents. From there, September 13 for the first of a series on the bonding components. <br /> September 15` is the target date to close on the land; picking up at the end of February, call for <br /> that sale in March and awarding the sale of bonds, April proceeds. <br /> Ms. Kvilvang also wanted to mention that another item on the August 9 agenda is the <br /> technicality to issue those GO2 funds, that a housing program needs to be created, and a public <br /> hearing needs to be set. <br /> Mr. Lazan would like to know how much information the presentation would entail. <br /> Consensus was to show what the rationales are and focus on the amendments. <br /> COMMITTEE REPORTS <br /> None <br /> EXECUTIVE DIRECTOR'S REPORT <br /> None <br /> COMMISSIONER INPUT <br /> None <br /> ADJOURNMENT <br /> Motion by Chairperson Elvig, seconded by Commissioner Backous, to close the meeting of the <br /> Housing and Redevelopment Authority. <br /> Motion carried. <br /> The meeting of the Housing and Redevelopment Authority adjourned at 11:10 p.m. <br /> Housing and Redevelopment Authority / July 19, 2011 <br /> Page 6 of 7 <br />