Agenda - HRA Special MeetingJULY
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I. CALL TO ORDER
II. NEW BUSINESS
AUGUST
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HOPKINS HRA SPECIAL MEETING
July 26, 2011
6:30 p.m.
MAXWELL
BRAUSEN
HALVERSON
ROWAN
YOUAKIM
GENELLIE
ELVERUM
1. Documents needed to close on Marketplace & Main project
financing
Recommendation: approve execution of documents
Board Action:
III. ADJOURNMENT
Board Action:
Planning & Economic
Development
MEMORANDUM
TO: Honorable Chair arAd Hopkins HRA Members
FROM: Kersten Elverum,Vectof Planning & Development
DATE: July 22, 2011
SUBJECT: Master Subordination Agreement — Marketplace & Main
One of the many requirements of HUD's financing for the Marketplace & Main project is
the execution of a Master Subordination Agreement relating to the HRA's lien and
associated contracts. At the time of this memo, the draft agreement has not been received
by staff or our attorney. It is anticipated it will be available by Monday and will be
reviewed by the HRA attorney at that time.
This item will be considered at a Special HRA meeting on July 26, 2011.