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HRA Regular Session <br />Meeting Date: 06/26/2012 <br />By: Darren Lazan, Housing & <br />Redevelopment Authority <br />Information <br />Title: <br />Review Development Dashboard <br />5. 3. <br />Background: <br />The development dashboard was originally created in 2010 as a means to track all projected revenues and expenses <br />relevant to the development of the property. This effort originally included a considerable effort to recount and <br />recapture both past expenses, as well as future expenses anticipated as part of the current development plan. <br />The dashboard considers both hard and soft costs associated with the project, as if the project was a free-standing <br />entity, to allow the HRA to measure the progress and status of the project along the path of development. This is a <br />critical tool in measuring the progress towards exit strategy #2, which includes the partial development of the <br />project prior to a sale of the holdings in their entirety. It is also a critical component to all exit strategies, as it <br />provides a very critical account of the financial components of the project for a perspective buyer. The dashboard <br />tracks all the costs expected to be incurred by this development regardless of the ownership, and provides a <br />tremendous amount of due diligence data for any perspective buyer. <br />Notification: <br />Observations: <br />The development dashboard has a number of significant assumptions that were developed in the initial stages of this <br />project effort. The HRA should, from time -to -time, review these assumptions and the resulting impact on the <br />financial components of the project to ensure that the dashboard provides accurate guidance throughout the <br />development effort. <br />Recommendation: <br />The development team recommends the HRA review the current development dashboard, and the related <br />assumptions to provide updated direction to the development team. <br />Funding Source: <br />N/A <br />Council Action: <br />None <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/21/2012 01:58 PM <br />Form Started By: Darren Lazan Started On: 06/21/2012 <br />Final Approval Date: 06/21/2012 <br />