3.4. HRSR 01-18-2000 VA
King & Main Questionnaire Fall 1999
Please answer the following questions for the Elk River HRA. Attach
additional pages if necessary.
1. Describe the project in terms of the following factors:
• Building size- Elk River Municipal Utilities' current building size
is 3636 SF.
We will need 7000-8000 SF. in two to five years.
Proposed building size- 2 story, 8000 to 10000 SF./story
Shape to suit functional needs.
• Building design
2 Story with parking in lower level
1st story for Utility Office
2nd story for Lease to business/professional offices
• Façade appearance
To suit downtown architectual theme and adjacent buildings
• Parking
Parking would be provided in lower level plus street
use. Layout of building and occupancy will determine parking nccds.
2. How will the project be financed?
Revenue Bonds through Elk River Municipal Utilties.
•
3. What is your timeline for the entire project (i.e. land acquisition,
construction and build out, and occupancy)?
• Will not need space for 2 to 5 years. Purchasing the land now will
preserve our options in future years.
•
4. What types of tenants will you be seeking (i.e. Professional services,
retailers, etc...)?
Utility offices in Main floor. Professional services in upper
floor.
May need drive-up window on main floor.
•
8 - `
5. Will the building be investment property or owner occupied? How will
ownership of the building be structured?
• Owner will occupy main floor, 2nd story would be leased offices.
6. What are your expectations of the HRA with regard to the cost of the
land (i.e. market rate, seller financing, etc...)?
Provide land as inexpensively as possible.
No financing help required.
60' X 60' lot at 322 King Ave. will be available for sale or
redevelopment. This lot and building is currently owned by Elk
River Municipal Utilities.
Depending upon lease space needs, could construct one story initially,
and second story when demand for lease space needs become evident at
cost effective rates.
Please return this questionnaire by 4:30 pm on Tuesday November 16, 1999 to:
Marc Nevinski, City of Elk River
PO Box 490 - 13065 Orono Parkway
Elk River, MN 55330
Phone: 612-241-5526 Fax: 612-441-7425
1 Email: mnevinski@ci.elk-river.mn.us