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Sue Iverson <br />Proposed TIF District — Presbyterian Homes Redevelopment <br />August 30, 2010 <br />Page 2 <br />In order to meet timelines for some components of the redevelopment, the City Council needs to set a <br />public hearing date for the creation of the district. From the public hearing date we "back" into a <br />timeline which outlines the various steps and actions that are required to be completed prior to the <br />public hearing. <br />Attached is a proposed schedule of events to create a renewal and renovation district. The first action <br />required is for the City Council to set a public hearing date on the proposed TIF district and <br />development. Setting the public hearing date does not commit the City Council to provide <br />Presbyterian Homes TIF. If at any time during the proposed schedule the City Council determines it <br />does not want to provide public assistance to the proj ect, the process stops and no further action is <br />required (i. e. you don't need to take action to "unset" the public hearing). <br />Please contact me at 651-697-8506 with any questions. <br />