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RE EST FOR COUNCIL _AQb0N DATE: 11/13/84 <br />AGENDA SECTION: ORIGINATING DEPT./DIV.: DEPT. HEAD APPROVAL. <br />Reports & Recommendations Administration <br />ITEM NO.: ITEM DESCRIPTION' MGR. VIEWED/RECOMMENDS: <br />"g New Hearing - IDB Application i <br />Health Resources, Inc. received preliminary resolution approval on <br />October 8, 1984 for $1.5 million in IDB bonds. <br />Sinc(, that time, a major user of the facility (Kinder -Care) has <br />withdrawn from the project. health Resources is now proposing to <br />reduce the square footage to approximately one-half. The net <br />result is tine taW'Wit of the issue has been reduced to $900,000. <br />The IDB policy calls for a minimum issue of $1,000,000. If the <br />Council approved of the issue, the policy could need to be waived. <br />The IDB allocation remaining ($600,000) will need to be forfoitH to the <br />IDB competitive pool. The mount forfeited would represent Roseville°s <br />entitlement, and not arrec t the amount "borrowed" From the City of Becker. <br />COMCI L ACTION REQUESTrij Notion to est4bl ish a public hearing at <br />7:30 p.m., , December 10, 1901:1, to give <br />considerarlt i00 to a preliminary resolution <br />approving an application from Aral th <br />Rosources, Inc. for IN bonds in the <br />amount or s900, oo. <br />0 <br />