Housing and Redevelopment Authority March 27, 2025
Economic development and financing restructuring for 70th and France project
Proposal to move forward with office site development at 70th and France
Discussion of tax-exempt financing and credit backing by the City/HRA
Potential use of Special Purpose Entity for development
Mitigation strategies for financial risk to the city
Conceptual shift from pay-as-you-go TIF notes to bonded debt models
Full Document Analysis
Votes (2)
Approve the meeting agenda as published
Moved by Mr. Jackson · Seconded by Commissioner Agnu
Adopt items on the consent agenda
Moved by Mr. Jackson · Seconded by Commissioner Pierce
Notable Quotes (3)
If we go with an alternative structure as we're discussing here today that Tiff note goes away but the same Tiff dollars that are coming in the door would go out the door to pay for the bond.
In order for us to make this project happen we need to be able to decouple the financing between the two sites.
It feels to me based on what you said that we as a city would be assuming more risk in this.
People (5)
Scott NeilExecutive Director / City ManagerCoordinates the meeting and facilitates discussions.
Coordinates the meeting and facilitates discussions.
Bill NondorfEconomic Development DirectorLeads the presentation on the 70th and France development financing restructuring.
Leads the presentation on the 70th and France development financing restructuring.
Ted CarlsonRepresentativeFrom Orion Investments, explains the need to decouple site financing.
1 quote
From Orion Investments, explains the need to decouple site financing.
“in order for us to make this project happen we need to have need to be able to decouple the financing between the two sites”
Justification for moving away from combined project financing.
Nick An-HutConsultantFrom ERS, advises on financial modeling and economic feasibility.
From ERS, advises on financial modeling and economic feasibility.
Chair HubandChairPresides over the HRA meeting.
Presides over the HRA meeting.
Places Mentioned
Events & Meetings (1)
- January 7, 2025 - 7:30 a.m. ATA Housing and Redevelopment Authority Meeting