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Staff is looking for council consensus to start the process to create a Redevelopment Plan, adopt a resolution to <br />request HRA funds from the County and to give Staff flexibility in the amount (1.3-2M), interest rate, term, and <br />payment schedule of the City loan for the project to complete project financing. All terms and conditions of the <br />loan will ultimately need to be formally approved by City Council Action at a later date. <br />Funding Source: <br />To be determined. Staff could charge an application fee to ARAA or identify other eligible sources. <br />Recommendation: <br />Council consensus to start the process to create a Redevelopment Plan, adopt a resolution to request <br />HRA funds from the County and to give Staff flexibility in the amount (1.3-2M), interest rate, term, and <br />payment schedule of the City loan for the project to complete project financing. All terms and <br />conditions of the loan will ultimately need to be formally approved by City Council Action at a later date. <br />Outcome/Action: <br />Staff is looking for council consensus to start the process to create a Redevelopment Plan, adopt a <br />resolution to request HRA funds from the County and to give Staff flexibility in the amount (1.3-2M), <br />interest rate, term, and payment schedule of the City loan for the project to complete project financing. <br />All terms and conditions of the loan will ultimately need to be formally approved by City Council Action <br />at a later date. <br />Site Location Map <br />Redevelopment Plan Schedule <br />Preliminary Financing Structure <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Sean Sullivan (Originator) Sean Sullivan 03/05/2026 12:38 PM <br />Brian Hagen Brian Hagen 03/05/2026 03:48 PM <br />Form Started By: Sean Sullivan Started On: 03/03/2026 09:28 AM <br />Final Approval Date: 03/05/2026 <br />