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3. PUBLIC COMMENT- None <br /> <br />4. GENERAL <br /> A. Redwood Court Owner Participation Agreement (405) <br /> <br /> Housing Coordinator Jones-Thomas stated that this item was before the <br /> Agency on March 24 and an appropriation of $500,000 to MP Redwood Court <br /> Associates to preserve 27 affordable units at risk of conversion to market rate <br /> was approved. An amendment to the agreement is being proposed that will <br /> comply with current Redevelopment law, provide for an increased affordability <br /> term of 55 years and extends the term for completion of the work to June 30, <br /> 2004. <br /> <br /> Council questions ensued. <br /> <br /> M/S Hartnett/Ira to approve Owner Participation Agreement (OPA) with MP <br /> Redwood Court Associates and authorize the Redevelopment Manager to <br /> execute all related documents. <br /> <br /> The motion passed by a unanimous voice vote by those present with <br /> Agency Member Jordan absent. RD MINUTE ORDER 03-19 <br /> <br />5. ADJOURNMENT- 7:18 p.m. <br /> <br />Respectfully submitted, <br /> <br />Patricia S. Howe, CMC <br />Agency Secretary <br /> <br />REDEVELOPMENT AGENCY MEETING June 30, 2003 <br />AGENDA PAGE 2 <br />MINUTES BOOK NO. 02 <br />Page No, 137 <br /> <br /> <br />