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Regular City Council Meeting Monday,January 26,2015 Page 18 and subsequent to the recent Housing & Redevelopment Authority (HRA) action on January 20, 2015. As noted by a representative of the current potential lender, Western Bank, at the HRA meeting, Mr. Bilotta advised that the bank had finally received the apprais- al, but at that time had not been able to complete their review. Mr. Bilotta ad- vised that the actual Project Manager at Western Bank, Mr. Paul McNamara, was present at tonight's meeting to address the current status of the appraisal review. Paul McNamara,Western Bank Mr. McNamara advised that Western Bank was very supportive of the Greater Metropolitan Housing Corporation(GMHC)'s history and background in this type of project. Since Western Bank had only been involved with GMHC on this po- tential project for 3-5 months, Mr. McNamara advised that they were excited about this project as well; as he was personally as a Roseville resident. Mr. McNamara noted that with the variety of housing stock and ownership partners on this site, it was a challenging development,but still viable. Mr. McNamara noted that, as stated by the Western Bank representative at the HRA meeting, they had only received the appraisal documents earlier that day. After their initial review, while recognizing that there was a little work for the bank and client to work out as far as structuring the financing, Mr. McNamara ad- vised that the project could work. Mr. McNamara advised that the bank had met with Roseville staff earlier today, and would continue to meet as the project was reviewed in more detail, with Western Bank still very supportive of the project. Mr. McNamara assured the City Council and public that the delay was certainly not indicative of how GMHC had handled the project, but was due to the City's involvement in ownership of the property and demolition requirements for the ex- isting fire station, each component just making things a little more complicated or challenging. Mr. McNamara encouraged the City Council to allow Western Bank to continue working with GMHC for this project that would result in a good bene- fit to the City, the project and Western Bank as well. At the request of Mayor Roe, Mr. McNamara addressed the established timeline by the HRA, remained committed that Western would meet those deadlines to the best of their ability, pledging to work hard and move the information forward. Councilmember Willmus noted his attendance at the HRA meeting and confirmed that Western Bank had just received the appraisal earlier that day. While the Western Bank representative at the HRA meeting mentioned that she had some concerns, Mr. McNamara's referencing them in greater detail proved helpful. Councilmember Willmus sought confirmation from Mr. McNamara on the timing of approval.