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CONCLUSION <br />There. is no statutory authority for the City to transfer a project to tl~e HRA or EDA without <br />Ina1Li11g an election to come under the purview of the EDA Act, and the City may or may not be <br />willing to make such an election. However, the City can have the ~ ad 'roister City housing <br />progra sand also provide the funds required to do so, along with the cost of administration. <br />Finally, the I?evelop ent Program governi~rg the Arona district ost likely requires <br />rrrodification to make sure that the Program authorizes the purposes for which the City intends <br />to upend tax increment revenues. We will prepare a separate memorandum an necessary <br />modifications. <br />G:\WPDATA\R\ROSEVILLE\09\COR\WELSCH BENNETi~ GG01.DOC <br />® Page 3 <br />