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6. HRSR 01-03-2011ITEM # 6. fiver MEMORANDUM TO: Housing & Redevelopment Authority FROM: Catherine Mehelich, Director of Economic Development DATE: January 3, 201 I SUBJECT: Discuss HRA Goals and Projects for 201 I Attachments • 2009-2012 Economic Development Strategic Plan • City Vision & Goals, Adopted 2010 Background Overview of 2010 HRA Goals and Projects • Continue foreclosure recovery initiatives including: o Administer NSP program in target neighborhoods o Monitor and coordinate foreclosure conditions with various departments o Distribute resource information for foreclosure prevention services • Continue to market resources available for housing rehabilitation and energy efficiency financing assistance. • Resume planning process for the comprehensive Downtown Redevelopment Plan. • Explore need and partnership opportunities for a selective housing redevelopment program (voluntary acquisition/removal and replacement of blighted homes). • Monitor inventory of housing stock to identify gaps. Explore need and identify HRA's role in life-cycle housing options e.g. homeless • Provide input on comprehensive plan or zoning changes in situations where properties are being proposed to convert from a current commercial residential use (e.g. motels) to a private residential use. 2010 HRA Projects & Highlights • Distributed information about various housing rehabilitation and energy efficiency financing programs offered by regional agencies for the benefit of Elk River residents (provided by "Homeowner's Toolkit" brochure, website updates, etc.) Discuss 2011 HRA Goals & Projects HRA Meeting January 3, 2011 Page 2 of 2 • Distributed foreclosure prevention resources throughout the community. • Coordinated information on Elk River's foreclosure situation with Police, Utilities and Code Enforcement to monitor neighborhood conditions. • Administered federal Neighborhood Stabilization Program (Foreclosure Recovery) grant funds for down payment assistance and acquisition/rehabilitation. • Created unique financing program as result with TIF 16 resources to stimulate construction or substantial renovation, and job creation. • Closed on purchase of HRA buildings at 716 & 720 Main Street. • Monitored and maintained communications with The Bluffs property owner for assistance in the sale and marketing of the property. • Assisted conduit bond financing for the private acquisition and rehabilitation of the 68-unit Dove Tree Apartments. Issues for Discussion A copy of the 2009-2012 Economic Development Strategic Plan is attached as a reference on the priority goals and issues identified by the joint meeting of the HRA, EDA and City Council. In addition, the HRA's action steps should be consistent with the attached City Vision & Goals recently adopted by the City Council. Staff requests the HRA's feedback and direction on the preliminary list of 2011 goals and projects which was developed consistent with the 2011 HRA approved budget: 2011 Proposed HRA Action Steps • Continue foreclosure recovery and prevention initiatives. • Continue to provide information to residents on housing rehabilitation and energy efficiency financing assistance. • Resume planning process for the comprehensive Downtown Redevelopment Plan. • Monitor the City's housing market, inventory and condition to identify needs. 2009-2012 Economic Development Strategic Plan Proposed Action Steps Issue: Industrial Development Objective: Attract new businesses & expand existing businesses to increase the city's industrial tax base Action Steps: - Expand City's inventory of available C/I land for development. • Evaluate current inventory of available C/I land. • Define desired C/I market and rank by priority. • Conduct research on site amenities required for target markets. Identify sites that meet site requirements. Evaluate assembly options (ownership, improvements, financing, etc) Evaluate financing and focused marketing tools to attract target market. - Develop a Business Resource Directory highlighting services available from various partner agencies for start-ups, expansion and relocations. Consider partnering with Chamber to host Business Resource Expo. - Enhance and promote TIF, Tax Abatement and Micro Loan programs for eligible development and redevelopment projects. - Evaluate and consider fresh approach to consistent marketing image as "The Light Industrial Hub of the Northwest Metro", materials and methods. - Maintain and build networks with banks, brokers/developers, chamber, existing businesses, media and others. - Maintain annual Business Retention & Expansion visits to manufacturers with participation from elected/appointed officials. - Consider DEED's Shovel-Ready Site Certification Program for marketing sites. - Utilize DEED's Manufacturing Week to showcase existing firms. - Conduct annual update of Retail Trade Analysis with UofM Extension Service and share results with Chamber and business community. - Maintain marketing participation with the Energy City program to educate existing business community and recruitment tool for energy-related businesses. - Consider viability of Business Incubator Program (tenant mix, financing, space). Issue: Rehabilitation & Redevelopment Objective: Facilitate rehabilitation and redevelopment of deteriorating commercial and residential areas. Action Steps: - Resume and complete long range master plan for guiding vision of the greater downtown area. Design connections (to river, businesses, Lions Park, schools, etc.) - Joint discussion to determine role of HRA/City/EDA in redevelopment (who leads in identifying potential areas in need of rehab or redevelopment?). Empower HRA/EDA to look critically at potential redevelopment areas. - Examine available financing tools -both for public & private redevelopment. - Encourage filling vacant C/I space with compatible businesses. • Utilize MNCAR/MetroMSP to manage data of available C/I (sale or lease). • Host a property manager/broker open house to share listing resources. • Maintain "Business Development" presence on main city web page. • Consider expanding EDA Micro Loan program citywide for to encourage filling vacant retail/service properties. • Encourage and partner with Chamber to conduct Business Retention & Expansion program focused on retail/service businesses. • Evaluate potential barriers and options to encourage business relocations (e.g. ordinances, fees, SAC/WAC rates) - Identify patterns of vacancy rates to identify areas for potential redevelopment. - Maintain foreclosure information to monitor and address neighborhood issues. Evaluate resources to address issue (e.g. NSP). - Conduct Housing Market Study to identify gaps in market, identify priorities, and role in addressing housing needs (after 2010 census?) - Identify, preserve and maintain prime commercial areas for future development. Ensure tools in place to attract desired development (e.g. ordinances). Issue: Community Image & Marketing Objective: Identify desired image and strategies to effect necessary changes Action Steps• - Joint discussion to determine role of EDA/HRA/Council to define and market citywide image (who leads?) - Determine best approach or a structure to develop the community's vision. - Create marketing plan that reflects Elk River brand/image in a way that complements other local efforts to promote the city internally and externally (Chamber, School, County). Issue: Transportation Objective: Advocate proactive transportation planning and improvements that complement economic growth. Action Steps• - Undertake a local proactive advocacy role to generate improvements • Consider connections, service roads within developments • Limit development by land use (interim uses to preserve future corridors) • Make necessary improvements to existing roads. • Consider alternative routes for east/west connections (partner regionally) • Encourage service drives along new commercial areas (e.g. East Hwy 10) - Consider transportation improvements in areas with redevelopment/development opportunities. - Consider transportation connections/traffic flow for problem areas. - Maintain reasonable accessibility for businesses along Highways 10 and 169 - Support the City's Transportation Plan; support the Planning and Public Works/Engineering staff in the Plan's implementation. 2009-2012 Economic Development Strategic Plan Proposed Action Steps MISSION: The City of Elk River is committed to economic development by leveraging viable and healthy investments, to retain and create diverse job opportunities, maintain a favorable tax rate, supply life-cycle housing options, and foster an environment that will result in substantial growth of our local economy. Goal: Industrial Development Objective: Attract new businesses & expand existing businesses to increase the city's industrial tax base Action Steps• - Expand City's inventory of available C/I land for development. • Evaluate current inventory of available C/I land. • Define desired C/I market and rank by priority. • Conduct research on site amenities required for target markets. Identify sites that meet site requirements. Evaluate assembly options (ownership, improvements, financing, etc) Evaluate financing and focused marketing tools to attract target market. - Develop a Business Resource Directory highlighting services available from various partner agencies for start-ups, expansion and relocations. Consider partnering with Chamber to host Business Resource Expo. - Enhance and promote TIF, Tax Abatement and Micro Loan programs for eligible development and redevelopment projects. - Evaluate and consider fresh approach to consistent marketing image as "The Light Industrial Hub of the Northwest Metro", materials and methods. - Maintain and build networks with banks, brokers/developers, chamber, existing businesses, media and others. - Maintain annual Business Retention & Expansion visits to manufacturers with participation from elected/appointed officials. - Consider DEED's Shovel-Ready Site Certification Program for marketing sites. - Utilize DEED's Manufacturing Week to showcase existing firms. - Conduct annual update of Retail Trade Analysis with UofM Extension Service and share results with Chamber and business community. - Maintain marketing participation with the Energy City program to educate existing business community and recruitment tool for energy-related businesses. - Consider viability of Business Incubator Program (tenant mix, financing, space). Goal: Rehabilitation & Redevelopment Objective: Facilitate rehabilitation and redevelopment of deteriorating commercial and residential areas. Action Steps• - Resume and complete long range master plan for guiding vision of the greater downtown area. Design connections (to river, businesses, Lions Park, schools, etc.) - Joint discussion to determine role of HRA/City/EDA in redevelopment (who leads in identifying potential areas in need of rehab or redevelopment?). Empower HRA/EDA to look critically at potential redevelopment areas. - Examine available financing tools -both for public & private redevelopment. - Encourage filling vacant C/I space with compatible businesses. • Utilize MNCAR/MetroMSP to manage data of available C/I (sale or lease). • Host a property manager/broker open house to share listing resources. • Maintain "Business Development" presence on main city web page. • Consider expanding EDA Micro Loan program citywide for to encourage .filling vacant retail/service properties. • Encourage and partner with Chamber to conduct Business Retention & Expansion program focused on retaiUservice businesses. • Evaluate potential barriers and options to encourage business relocations (e.g. ordinances, fees, SAC/WAC rates) - Identify patterns of vacancy rates to identify areas for potential redevelopment. - Maintain foreclosure information to monitor and address neighborhood issues. Evaluate resources to address issue (e.g. NSP). - Conduct Housing Market Study to identify gaps in market, identify priorities, and role in addressing housing needs (after 2010 census?) - Identify, preserve and maintain prime commercial areas for future development. Ensure tools in place to attract desired development (e.g. ordinances). Goal: Community Image & Marketing Objective: Identify desired image and strategies to effect necessary changes Action Steps: - Joint discussion to determine role of EDA/HIZA/Council to define and market citywide image (who leads?) - Determine best approach or a structure to develop the community's vision. - Create marketing plan that reflects Elk River brand/image in a way that complements other local efforts to promote the city internally and externally (Chamber, School, County). Goal: Transportation Objective: Advocate proactive transportation planning and improvements that complement economic growth. Action Steps: - Undertake a local proactive advocacy role to generate improvements • Consider connections, service roads within developments • Limit development by land use (interim uses to preserve future corridors) • Make necessary improvements to existing roads. • Consider alternative routes for east/west connections (partner regionally) • Encourage service drives along new commercial areas (e.g. East Hwy 10) - Consider transportation improvements in areas with redevelopment/development opportunities. - Consider transportation connections/traffic flow for problem areas. - Maintain reasonable accessibility for businesses along Highways 10 and 169 - Support the City's Transportation Plan; support the Planning and Public Works/Engineering staff in the Plan's implementation. The Vision Abounding in natural beauty, Elk River is a vibrant, historic river town that promotes an active lifestyle in an innovative and involved community offering unlimited opportunities. Goals supporting the Vision • Innovation -Develop new programs and services to meet the needs of the community. • Community Development -Enhance community involvement and public participation through a variety of innovative outlets. • Beautification -Have attractive welcoming streetscapes at City entrances and primary corridors. Enforce zoning ordinances. • Opportunities -Foster apro-business atmosphere that provides incentives and other opportunities for new and existing business growth.