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<br />Elk- <br />River <br />MEMORANDUM <br />T: Housing ~ Redeve!®pmen~ Au~h®ri~y <br />Ma~~r City Council <br />FR M: Cafiherine Mehelich, irec~®r Of c®n~mic evel®pmen~ <br />DATE: March 1, 2010 <br />SUBJECT: ®nsider N®~i~icai®n ~r®m Minnr~es~ anl~ ~0 Lease Units a <br />The lu~~s ®~ Elk River <br />A~~achmen~ <br />~ Correspondence from NlinnWest Corporation re: The Bluffs of IJll~ Rive, dated <br />February 28, 20~ 0~ <br />Staff recently received the attached notification from Nli~lntivest Banl~ of their intent, as <br />o`vners of t11e property, to Iease a li~.nited number of u~~ts at The Bluffs of I~ll~ River. <br />Mitln~vest's Senior Vice President Ri.claard Schroeder `vill be ~t~ attendance for the HRS. <br />meeti~~g to answer an.y questions, <br />The notification has been reviewed by the HRA's development attorney Jenny Boulton at <br />I~ennedy & Graven, Ms, Boulton has advised that it is not necessary for the HRS. or City <br />Council to act on the notification. Ms. l3oulton will be ii1 attendance for the HRH meeting if <br />there are questions, <br />