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EDA Agenda Memo Page 5 <br /> March 3, 1993 <br /> the sale of the mortgage revenue bonds . In addition, a <br /> non-refundable "processing fee" of less than $300 will be <br /> required. <br /> Action Requested <br /> The EDA is asked to authorize staff to prepare an <br /> application for a reservation of MHFA funds for first time <br /> home buyers in Elk River. The application and amount of <br /> the reservation will be finalized at the April EDA meeting. <br /> 11. EDA MAIN STREET SITE <br /> As EDA Commissioners will recall, City staff and EDA <br /> representatives met with Mr. Gary Santwire of REP, Ltd. on <br /> January 22 to review its redevelopment project. The <br /> fundamental questions coming out of that meeting were: <br /> - What is REP proposing? <br /> - How much will it cost? <br /> - What does REP need from the EDA/City? <br /> It was generally understood that specific, detailed <br /> information on REP'S proposal would likely not be <br /> available for the February meeting. However, it was <br /> 411 understood that staff would have an ample opportunity to <br /> review elements of this proposal prior to the March 8 <br /> meeting. This information is not available and no other <br /> comments are offered. <br /> 12 . Prospect Status Report <br /> The Prospect Status Report has been sent under separate <br /> cover. <br />