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~~~:r~1 <br />INFORMATION <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Development <br />DATE: March 7, 201 I <br />SUBJECT: Update -The Bluffs of Elk River <br />At its January 2011 meeting the HRA requested follow up from staff on the status of The <br />Bluffs of Elk River rental of housing units. <br />In October 2008 the HRA and City Council approved a resolution authorizing rental of <br />certain units in the Bluffs to displaced families from Lion's Park Apartments, with a lease <br />termination of December 31, 2009. Attached are the March 1, 2010 minutes from the <br />HRA's most recent discussion on The Bluffs rental. At the March 1, 2010 meeting <br />MinnWest announced their intentions, as majority property owner of The Bluffs, to begin <br />leasing units. HRA Attorney Jenny Boulton, of Kennedy & Graven, advised the HRA on <br />options to enforce the definition within the TIF Development Agreement of the "Bluff <br />Block Housing" as "owner-occupied housing". Ms. Boulton advised that if the City wished <br />to enforce this definition that action would be pursued with MetroPlains as "Developer" <br />under the Development Agreement, and not MinnWest as property owner. There was no <br />action taken at the meeting by the HRA or Council regarding this option. <br />