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7.2. HRA SR 11-01-2021 Request for Action Cir•ci Elk - River= To Item Number Housing and Redevelo ment Authority 7.2 Agenda Section Meeting Date Prepared by General Business November 1, 2021 Brent O'Neil, Economic Development Director Item Description Reviewed by Main and Gates Redevelopment Update Cal Portner, City Administrator Reviewed by Action Requested Item presented for discussion purposes. Background/Discussion Responses to the Request for Information (RFI) for the Main and Gates site are due on October 29 at the end of the day. Staff will have an update for the HRA on responses received and will want feedback and consensus Financial Impact N/A Mission/Policy/Goal The HRA has acquired these properties for redevelopment purposes. Attachments ■ Main and Gates Request for Information The Elk River Vision P O N E R E o R Y A welcoming community avith revolutionary and spirited resourcefulness, exceptional [NAWR service, and community engagement that encourages and inspires prosperity. Updated.August 2020 of Elk River Request for Information Main and Gates Redevelopment Project Section I: General Information Contract Administration All correspondence regarding this RFI and the proposed project must be directed to Brent O'Neil, Economic Development Director City of Elk River 13065 Orono Parkway Elk River,MN 55330 boneil o ElkRiverMN.gov All persons or companies who download this RFI are requested to register their name and email address by sending an email to boneil&ElkRiverMN.gov. Any revisions to or corrections of this RFI, after it has been advertised,will be communicated to those registered RFI holders. Failure to register your contact information as described is at your own risk. A proposal will not be considered if it fails to include all requested information as detailed in this original RFI and any subsequent modifications. Project Overview The City of Elk River's Housing and Redevelopment Authority (HRA) is releasing this Request for Information (RFI) to obtain input from qualified developers,businesses, and/or organizations (Respondents) that are interested in a redevelopment opportunity on the HRA's owned 1.73+ acre site in the City of Elk River. The HRA is proposing to redevelop this property for mixed use development in Elk River,MN. The HRA has conducted its own preliminary due diligence and market research for future Main and Gates Redevelopment. The HRA hosted a Developer Forum and a visioning session and is now looking for feedback from qualified developers, businesses, and/or organizations. The HRA is excited to present this unique opportunity to the development community and intends to ultimately engage a Respondent to conceptualize a vision and later transform Main and Gates into a quality driven development that provides jobs and services within the Elk River community. With this RFI the HRA seeks to obtain feedback to assess the interest of qualified Respondents who can work together with the Housing and Redevelopment Authority and the City of Elk River to realize Main and Gates highest and best development potential. Site Overview The Main and Gates Redevelopment site is a 1.73+ acre parcel located at the corner of Main Street NW and Gates Avenue NW in Elk River. It is a Mixed-Use Development,with a PUD opportunity, and qualifies for Redevelopment Tax Increment Financing (TIF). There is potential for trail connectivity to downtown and the parcel is in a Quiet Zone. Over 12,100 vehicles per day go past the site which has access to U.S. 169 to the East and Hwy. 10 to the West. The HRA consulted with American Engineering Testing who performed a scope of work which consisted o£ • Drilling 4 standard penetration test boring to depths of 14 1/2 feet each • Performing soil laboratory testing • Performing a preliminary geotechnical engineering review based on the data and preparing this report The HRA approved the Report of Geotechnical Exploration,which did not reflect any unacceptable concerns. Development Opportunity Main and Gates presents an opportunity for development on a 1.73+ acre site with high visibility between TH 169 and Hwy 10 on Main Street. The site was zoned residential and included seven homes (one still to be acquired). The HRA acquired the seven homes, five of which were demolished and two were moved off the property. The site was rezoned to C-2 Office District, which is intended to buffer residential districts from arterial streets or from commercial districts and to provide a district which is compatible with and may reasonably adjoin residential districts. The office district provides for the location and development of offices and other service and light commercial uses which are subject to more restrictive controls. The Housing and Redevelopment Authority seeks to retain a qualified Respondent with a long-term vision for the site that achieves the HRA's policy objectives. The site presents an opportunity for a Mixed-Use Development with a PUD opportunity in the heart of Elk River. Information Requested The HRA requests Respondents submit a letter or narrative response to the inquires below. Please include the name,address, telephone, and email address of the primary contact person for the Respondent on the first page of the narrative. 1. Organizational Background a. A brief introduction of the Respondent and each member of the Respondent team (if applicable); b. A brief description of the project concept(s) and anticipated approach to the development of Main and Gates; c. A summary of the Respondent's experience with development projects similar to Respondent's anticipated approach to Main and Gates; and d. Identify the primary contact person fore the Respondent so that he/she can be notified if there are any announcements regarding Main and Gates development opportunity. 2. Project Understanding and Assessment Please provide a narrative description of the Respondent's vision for Main and Gates and how this is consistent with the HRA's Project Overview. Respondents are encouraged to offer any feedback they may have regarding the Respondent's Assessment of the development opportunity, such as site compatibility, cost considerations,preferred deal structures, or other aspects of the overall opportunity. 3. Approach to Development Please provide a narrative description of the specific project concept(s) and contribution(s) proposed,and how the proposed project realizes the overall project opportunity. 4. Qualifications and Relevant Experience In narrative form,please demonstrate the Respondent's or Respondent team's experience developing Mixed-Use Developments. The HRA is looking for relevant experience with respect to the development of undertakings of similar uses and scale where the Respondent held a financial interest throughout the duration of the project. Submission Instructions and Communication If you are interested in responding to this RFI,please send Brent O'Neil, Economic Development Director,a narrative responding to our inquiry. Responses should be submitted in the form of a single PDF. All sections must be labelled in the sequence above. Please limit the narrative to ten pages or less, excluding the cover letter,drawings, and exhibits. If you have any clarifying questions about this RFI or need additional information,please email your questions to boneil&elkrivermn.gov by October 1, 2021. Responses to this RFI are due on or before 4:00 p.m. on October 29, 2021. Late submittals will not be accepted. Responses should be sent by email or USPS to: Brent O'Neil Economic Development Director City of Elk River 13065 Orono Parkway Elk River,MN 55330 or boneil@E1kRiverMN.gov Please include RFI—Main and Gates in the subject line of the email, attaching a PDF of the narrative. It if anticipated that the HRA may issue a Request for Proposals after the completion of the initial RFI process,the content of which will likely be informed by the responses received.