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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> 0 <br /> TO: HOUSING AND REDEVELOPMENT AUTHORITY <br /> FROM: WILLIAM RUBIN, ECONOMIC DEVELOPMENT COORDINATO 1/I <br /> DATE: NOVEMBER 17, 1993 / <br /> SUBJECT: AGENDA MEMO FOR NOVEMBER 22, 1993, HRA MEETING <br /> 5 . CHUBA DEVELOPMENT AGREEMENT <br /> At the HRA's September 7th meeting, Commissioners approved <br /> a request from the Elk River City Council to fund 50% of <br /> the demolition and site preparation costs, up to a maximum <br /> cost of $25,000, associated with the Main Street and <br /> Freeport Avenue office-townhouse project. <br /> It is now in order to execute an agreement with the <br /> project' s developer, The Chuba Company. This agreement <br /> will also be signed by the City of Elk River, The Chuba <br /> Company, and Mr. Dennis Chuba, who is guaranteeing the <br /> performance of his company. The Development Agreement <br /> outlines the terms and conditions by which The Chuba <br /> Company will, be reimbursed for the demolition and site <br /> • preparation costs associated with this redevelopment <br /> project. <br /> Action Requested <br /> The Elk River HRA is asked to approve the Development <br /> Agreement with The Chuba Company. <br /> 6 . Statement of Expenses (Parking Lot Improvements) <br /> Finance Director Lori Johnson has outlined the Statement <br /> of Expenses associated with the Jackson Square and former <br /> railroad property parking lot improvements <br /> Action Requested <br /> The Elk River HRA is asked to approve the Statement of <br /> Expenses for the parking lot improvements in the amount of <br /> $32,049 .28 . <br /> • <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />