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V <br />Memorandum <br />Roseville Local, Development Corporation,-, <br />Neal, Beets, Clity Manager <br />From: Cathy Bennett, Economic Development Specialist <br />I <br />Dennis Welsch,, Community Development Director <br />Date :- January 27, 2003 <br />Descnuptimon: Annual Meeting of the Local, Development Corporation <br />January 27, 2W3 <br />1.2 There are currently four loans outstanding, with, residents 'in the V'illa Park complex., The <br />LDC' "is collecting the interest only on these loans. They are due and payable in full, upon <br />sale of the Villa Park unit. <br />4 <br />1.3 The Council, as the Board of Directors of the LCD, is required at least to meet annually t <br />elect new officers. In addition, the LDC may call pefiodic meetings throughout the year <br />as needed. I <br />LDC Memo to Manager (0 1, 27031) — Page t of 2 <br />