5.1. HRSR 03-01-2004 ITEM 1 5.1.
• City of
Elk -�-�
River
MEMORANDUM
TO: Housing & Redevelopment Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: March I, 2004
SUBJECT: Downtown Revitalization Project Update
- Call Special HRA Meeting for Joint Work Session with City Council
Background
At its January meeting the HRA considered a summary of feedback from downtown business&
property owners with regard to staff's individual meetings with them to discuss project issues and
concerns as well as parking options. The HRA directed staff to continue to meet with property
owners, as well as with business tenants.
411/ The HRA also considered and approved a 60-day extension to its Preliminary Redevelopment
Agreement with MetroPlains Development. The extension provides additional time for staff and
the developer to come to consensus on development agreement issues. The extension also provided
MetroPlains the opportunity to submit a second application to the MN Housing Finance Agency for
additional housing tax credits related to the proposed Jackson Block project.
Recent Activities
Staff was notified in early February that the project attorney,Jim O'Meara of Briggs&Morgan was
retiring as of March 1s`. Staff has been working with Mary Ippel of Briggs&Morgan to bring her up
to speed on the project history and development agreement issues. With regard to the development
agreement issues, Ehlers &Associates continues to work closely with MetroPlains in obtaining and
analyzing project financing information to determine an appropriate level of financing assistance and
assuring commitments for the completion of both the Jackson and Bluff Blocks.
Staff has met with five remaining downtown business tenants regarding issues and concerns related
to the project, as well as parking options. The Assistant Director of Economic Development and
Jim Prosser, of Ehlers&Associates have provided a separate staff report summarizes the findings
and recommendations following the final series of meetings.
Consider Special HRA Meeting for Joint Work Session with City Council
Staff recommends that the HRA call a Special Meeting for Wednesday,March 17 at 6:30 p.m.,Lions
Park Center. The purpose of meeting is for having a joint work session with the City Council to
411 informally discuss issues related to the Downtown Revitalization project history,status, and
potential policy issues.