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4.2 HPSR 08-15-2013 Ji City of Elk MEMORANDUM River TO: Heritage Preservation Commission FROM: Rebecca Haug, Environmental Administrator DATE: July 10, 2013 SUBJECT: Jackson St. Water Tower Restoration The water tower was placed on the National Register of Historic Places (NRHP) on May 23, 2012. In the summer and fall of 2012, staff solicited quotes for the cost of restoring the water tower. The quotes ranged from$190,000 - $400,000. The contractors have indicated that the costs could be higher depending on what the fees are to abate the lead based paint. This information was shared with the HPC at their September 20, 2012 meeting. Since the September meeting, the HPC has been discussing and researching fundraising and grant opportunities. Setting up a 501c3 or working with another entity to collect funds from fundraising activities may be the best option as many of the ideas the HPC brings up for fundraising are not allowed by the City. Staff has identified one grant that could be used for the water tower restoration. At the March 21, 2013 HPC meeting, applying for grant funds through the State Capital Projects Grants-in-Aid program through the Minnesota Historical Society (MHS) was discussed. The grant funds range between$10,000 and the maximum amount of$100,000 depending on funding for the year.A 25% match is required. This grant would not cover the entire costs associated with the restoration of the water tower so additional funds are needed. The HPC recently started its water tower fundraising efforts through the donation letters that were sent out by staff to solicit donations for the Archaeological Dig, History Day and the Water Tower Restoration. The HPC also had a booth at ArtSoup and displayed a replica of the water tower. Next to the water tower, the HPC placed a jar for people to donate funds for the restoration. Elk River Municipal Utilities (ERMU) has had funds in the amount of$35,000 budgeted for the water tower. These funds were either going to go towards the restoration if the HPC could raise the additional funds or go towards tearing it down. Currently, the city holds the funds that have been raised through the fundraising efforts. The money that has been received by the City for the water tower restoration will be tracked POWERED IT C:\Users\dhucbner\AppData\Local\Microsoft\Windows\Temporary Internet NATURE Files\Content.Outlook\Q7RBTRKC\Memo Format-HPC water tower plan.doc separately through the capital outlay reserve fund. The current balance in the fund is $858.53. If a 501c3 is created or another entity is interested in supporting the fundraising efforts, the money could be transferred. The HPC needs to complete a comprehensive plan going forward so the matching funds will be in place during the 2014 winter grant cycle through the MHS. An update also needs to be presented to the ERMU and City Council on the status of the fundraising efforts and to receive authorization to continue the fundraising efforts. C:\Users\dhuebner\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\Q7RBTRKC\Memo Format- HPC water tower plan.doc