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Development Manager Lazan clarified the HRA has the same procedure as the bank and uses the same inspectors and reviewers. There is one process for this project from start to finish so there are no different books or processes. Finance Director Lund reviewed the documentation that is required and processes followed. Chairperson McGlone stated a majority consensus of the HRA has been reached to support accepting the $500,000. Commissioner Elvig stated he cannot fathom why PNC Bank would allow $500,000 to fall out of the equity when they are trying to prove the amount in the ground. Chairperson McGlone stated initially there was no train station and no parking ramp but both have changed and he does not care what their logic is. It was the majority consensus of the HRA to accept the $500,000 early principal reduction payment, direct the Development Team to prepare and execute the agreement, and present it at the October 9, 2012, City Council and HRA Regular meetings for approval and to direct the Development Team to prepare the documentation requested by Commissioner Elvig. 4.02: Discuss Armstrong Interchange Initiative Development Manager Lazan reviewed the staff report. Commissioner Ramsey stated he likes the concept, but not use of the word "coalition." He suggested labeling it so Ramsey's residents know they are part of this, such as "initiative." Development Manager Lazan stated they can address the naming so it is broader than a coalition. Commissioner Wise suggested adding facts to the Facebook page such as the amount of dollars remaining to be spent on this project and a comparison of the Highway 169/494 project to provide a sense of scale. He also asked about including information on the roundabout. Commissioner Ramsey stated that addresses content but the HRA needs to address its vision in how to peak resident's interest to be part of the solution. HRA Executive Director Ulrich noted the primary focus has been public safety and still needs to emphasize "safe roads for Ramsey." He stated data can be included on the number of accidents on Highway 10 and that it is a dangerous location to cross. Commissioner Tossey stated both Highway 10 and Highway 47 are important but Armstrong Boulevard is only a Ramsey issue. He asked how the City is going to get funding for it when it is only an issue in Ramsey. Commissioner Tossey advocated for using the public safety angle because it is horrible on Highway 10 and needs to be addressed now. He suggested residents be asked for their help to lobby Legislators. Housing and Redevelopment Authority / October 2, 2012 Page 5 of 9