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ITEM # 5. <br />ver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Development~~~//f <br />DATE: March 6, 2006 <br />SUBJECT: Downtown Revitalization Project Update <br />On February 28, 2006 the Amended and Restated Development Agreement by and between <br />the City of Elk River and MetroPlains Development LLC was completed and fully executed <br />by the Mayor, City Administrator and Vern Hanson of MetroPlains. <br />The next step in the development process is for MetroPlains to close on its construction <br />financing prior to commencing construction. Vern Hanson of MetroPlains will be in <br />attendance at the HRA meeting to provide a brief project update. <br />Attached are the River's Edge meeting minutes from January and February 2006. <br />