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R.EQUEST FOR COUNCIL ACTION <br />DATE: 9-23-91 <br />ITEM NO,: <br />rioval Manager Rev 11newed: Agenda Section-,, <br />Hearings <br />01 41 <br />Item Descrir-J"xon.: Riesolution, approving modifications to the <br />Tredevelopment prio]eac. area and industrial <br />development district number 1 plan, <br />*I A 'AL <br />L,w The Citiy Council <br />based <br />on a niimber of <br />work session <br />presenta,tioin,s, encouraged, <br />staff to move <br />forward wilth <br />modifying the C116ty"s <br />6 0 <br />existiing project area, to <br />facilitate a <br />new loan program <br />with <br />Firstar Bank to encourage <br />rehabliall,tation, of the <br />City's <br />sl*ngle family home <br />stock. <br />i <br />2 'The current Project, area (Map A) does not include all of th <br />sinctle family housing areas,. Therefore it is necessary t <br />able a le f amil <br />expland the prio'ect area to include all eligi sing <br />housing neiahborhoolds, (Only the project areas are bein <br />0 4 <br />,expanded,, new tax increment financing districts in whic <br />values f a a being created.) <br />IC. That diligence be completed concerning �.egality of tht <br />program . <br />t 0 <br />e 1 <br />That th Counc*1 consider a more competitive bid process <br />with.other banks to run tihe program., <br />le.. That a written, plan, be , renared. <br />,P <br />fle That the funds go to, tihe highest need. <br />