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Item 11 3 .5 . <br /> • )4.0/ <br /> City of <br /> Elk -�-� <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> FROM: Catherine Mehelich, Director of Economic Development`s$? <br /> DATE: April 28, 2003 <br /> SUBJECT: Consider Amended & Restated Preliminary Redevelopment <br /> Agreement with MetroPlains Development, Inc. <br /> Attachment <br /> • Amended and Restated Preliminary Redevelopment Agreement <br /> • At the March HRA 2003 meeting it was the consensus of the HRA to consider a six-month <br /> extension of the Preliminary Redevelopment Agreement between the HRA and MetroPlains <br /> Development, Inc. <br /> Attorney,Jim O'Meara,has prepared the attached Amended and Restated Preliminary <br /> Redevelopment Agreement for the HRA's action. The agreement extends the period <br /> through November 1, 2003. The extension will allow MetroPlains more time to evaluate <br /> financial feasibility and refine the design concepts, as well as host a public open house. <br /> Typical preliminary redevelopment periods can range from 6 to 24 months. <br /> Staff recommends the HRA consider approval of the Amended and Restated Preliminary <br /> Redevelopment Agreement with MetroPlains Development, Inc. <br /> • <br />