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would be unable to proceed based on an analysis performed by the City's municipal advisor; and <br /> (iv) the negotiation of a development agreement including (among other things) the conditions <br /> under which the City or the HRA will provide financial assistance. <br /> 2. The Board of Commissioners supports the Developer's application to MHFA for <br /> tax credits for the Project. <br /> 3. The Board of Commissioners recommends that the City Council of the City adopt <br /> a resolution supporting the Developer's application to MHFA for tax credits for the Project and <br /> expressing support for providing tax increment financing assistance to the Developer for the <br /> Proj ect. <br /> Adopted by the Housing and Redevelopment Authority in and for the City of Elk <br /> River this 1St day of June, 2020. <br /> President <br /> ATTEST: <br /> Executive Director <br /> 2 <br />