6. HRSR 06-04-2007ITEM # 6.
~.~~
•~..-
ver
MEMORANDUM
TO: Housing & Redevelopment Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: June 4, 2007
SUBJECT: Discuss HRA Intentions for 716 & 720 Main Street Buildings
Issue
Staff requests that the HRA discuss and provide direction regarding its intentions for the 716
and 720 Main Street buildings, in light of the announcement from O'Reilly Automotive of
their relocation in June.
In the short term, the City Park & Recreation Department has requested the use of the
building as a backup location for its summer entertainment in the park series.
The primary purpose of the HRA's purchase of the property at the end of 2006 was to take
advantage of the non-leveraged sale as part of a long term positioning strategy to be able to
expand surface and possible deck parking downtown. The City Council recently authorized
the completion of an independent Downtown Parking Study that will include an analysis of
current and future parking needs, identify alternatives, and develop concepts for parking
solutions. The final report is anticipated the end of August.
Recommendation
Staff recommends that removal of the buildings for the creation of up to 21 surface parking
stalls would be premature until the results of the parking study axe complete and justifies the
need and location as a solution option. In the meantime, staff recommends that the space
continue to be utilized for short term public and private uses in order to maintain an image
of positive activity in the downtown area. Staff has been exploring a series of options to
accomplish this goal and will be prepared to discuss at a future HRA meeting.