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HRA Downtown Revitalization Project <br />July 14, 2003 City Council Meeting <br />Page 2 of 2 <br /> <br />Consider adoption of the attached Resolution of Support of a Proposal by <br />MetroPlains Development, LLC to Construct Housing Rental Units in the City of <br />Elk River. <br /> <br />While the MHFA application needs to be submitted, receipt of the funds will be contingent <br />on the HRA and developer reaching a final Development Agreement and the analysis of <br />financial need. In the next several months the staff and developer will be working to process <br />other requests for financing. <br /> <br /> <br />