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Regular City Council Meeting Monday, October 19, 2015 Page 27 Council prior to the HRA's inception. Mr. Bilotta noted this would be a siinple formality annually. Councilmember Laliberte thanked staff for the update, but since this was not on tonight's agenda, expressed concern that it was being discussed witfiout the public being aware, which she found unfortunate. At the request of Councilmember Laliberte, Mr. Bilotta further expounded on the obligations under this CDBG loan program with Ramsey County whose funds could not be transferred, and would reinain under obligation through the HRA shell for up to 25 years, and involving AEON and Applewood Point-Phase I sin- gle fainily home developments. At the request of Councilmember Wilhnus, Ms. Kelsey reported that she had asked if the City could pay off the bonds and shift the obligation; however, be- cause of the contractual agreeinent language, there was no providing to allow that since the original contract had been signed by the Housing and Urban Develop- ment (HUD) arm of the federal governinent with Ramsey County, and as a HUD contract would not allow for that. As a long-time proponent of econoinic development and seeing a need to move froin a statutory HRA to EDA fonnat, Councihneinber Willmus aslced whether his colleagues were supportive of moving in that direction to address commercial aspects and properties that may not qualify as blighted or not have a housing component attached and the EDA format providing that spectnim to convey prop- erties. At the request of Councilmember Laliberte, Mayor Roe clarified that this item would come before the City Council for action at a later date, with a public hear- ing already scheduled for October 26, 2016 originally for dissolution of the HRA, with a process then needed to establish an EDA if it was decided to move in that direction. Councilmember Laliberte stated that she had long been more in favor of an EDA than an HRA. Councilmember Etten stated he was comfortable in establishing and EDA if the PA didn't work out due to legalities; opining that his goal was to have as inany tools available as needed. Mayor Roe and Councilmember McGehee noted that the City Council appeared to be heading toward having all three formats — HRA, EDA and PA — in place.