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• GMHC needs to close on the site per the development agreement <br />:, POLICY OBJECTIVE <br />This project supports the City's Comprehensive Plan goal of providing a wide variety of housing <br />� options in order to retain and attract a diverse miX of people and family types with varying <br />� economic statuses, ages and abilities and the goal of continuing to support of housing and <br />neighborhood programming provided by the HRA that address community needs. <br />BUDGET IMPLICATIONS <br />�_ It is anticipated that the funds to purchase the property wi]] be coming out of TIF funds, not the <br />. General Fund. Staff time will be necessary to prepare, review and process the documents and <br />� take other actions to satisfy the City's obligations in the Predevelopment Agreement. <br />., STAFF RECOMMENDATION <br />��� Staff recommends the approval of the attached resolution that will authorize taking all actions <br />necessary to enter into the Predevelopment Agreement with GMHC. <br />REQUESTED COUNCIL ACTION <br />Offer a motion to approve the attached Resolution authorizing entering into a Predevelopment <br />Agreement with the Greater Metropolitan Housing Corporation for the Dale Street Fire Station <br />Redevelopment project area and performance of the actions necessary to meet the City's <br />obligations identified in the executed Predevelopment Agreement. <br />Prepared by: Paul Bilotta, Community Development Director <br />Attachments: A: Resolution <br />B: Draft Predevelopment Agreement <br />C: Letter from Vieau Associates dated April 30, 2015 <br />Page 2 of 2 <br />