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11-08-07 Redevelopment Commission Minutes
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11-08-07 Redevelopment Commission Minutes
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1/16/2008 10:19:12 AM
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12/11/2007 3:41:18 PM
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11/8/2007
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11-08-07 Redevelopment Commission Agenda
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\Public\Redevelopment Commission\Agendas & Packets\2007
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a~~tl~ ~e~~d edevclopx~~e~~t a~nn~issia~~ <br />~esel~ed~~~ ed ~egu~ar ~ceti~~g -Novernbcr ~, ~0~7 <br /> <br />~. ou~a~ .oaf co~~~l~ .~evelopme~~t area <br />~~~ ~~t~~~~edaao- <br />.~:r~ ~Petersa~~'~ reca~~~~~~e~~~iation was th~~t the <br />on~~x~is~a~~ app~'ovc t~~e deve~op~ne~~t <br />~ree~ne~at in forrrl, hapi~~g ollad~~r mould <br />oha~~ge its ~nix~d. approving tl~c bo~~d <br />r~so~~~tian a~~d tl~e ~~pprapr~ ~.tia~~ resal~~tio~~, <br />l~~ao~ng e ca~~'t claw ~zntil e get that <br />~ec~~~~it. <br />~v~~~. ~r~i~~g asl~ed ~ t~~e ~~a~~~n~issi.a.~~ ~~.p~~~~o~res <br />th.e dao~~.~~~ents today ~.~~.d ~~~~o~lada~ never <br />does e~ec~~te the a~ree~~.c~~t, het~~er ~.~~~ <br />l~abilit is trigg~;.~~ed for ~~~~ city`. ~U~r, <br />.~~;te.~-so~x respo~~ded that, no, e ~~~st ~val~lc~t~'t <br />issue tl~e bond. ~r~t~~ yol~ claw, yo~~ don't <br />lame l~abili~y. e don't have any intention <br />of c~asin ~~ntil they cotnc to o~~r te~-~ns. Tl~e <br />C~a~~~~~ission could do resc~~~ding resol~~ttio~~ <br />at its ~e~t meeting. <br />fir. ~~i.n s~gestd t~~e C'alntnissia~l n~al~e its <br />positio~~ clear far the reeor~i so tl~e staff ~~.~~. <br />neatiate fra~~n a clear pasitio~~. <br />fir. Peterson noted that one change from. <br />~vl~at the ~on~~niss~o~~ l~.d prior to the <br />n~eetir~g is th.t i~~tead of using ~. ~ese~ve <br />acco~~~~t, the floes of finds zs to be <br />replenished ~vitl~ cash e~ces if tt~er e's a draw <br />o~~ letter o ~ credit rater t~~a~~ restoring the <br />letter of c~edi.t, which tneans tl~at, ift~ere is a <br />d~'a, a cash reserve o~zld ~e built up before <br />the developer i ~~eimbt~rsed for ~.~~~ pa~.nents <br />made ~~nder tl~e letter off` credit. <br />ll~~r. Blake asked it t~~e city has otl~er projects <br />it is working an ~vitl~ Holladay where tl~ere <br /> <br />
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