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Issue: Rehabilitation & Redevelopment <br />Objective: Facilitate rehabilitation and redevelopment of deteriorating commercial <br />and residential areas. <br />Action Steps: <br />- Resume and complete long range master plan for guiding vision of the greater <br />downtown area. Design connections (to river, businesses, Lions Park, schools, <br />etc.) <br />- Joint discussion to determine role of HRA/City/EDA in redevelopment (who <br />leads in identifying potential areas in need of rehab or redevelopment?). <br />Empower HRA/EDA to look critically at potential redevelopment areas. <br />- Examine available financing tools -both for public & private redevelopment. <br />- Encourage filling vacant C/I space with compatible businesses. <br />• Utilize MNCAR/MetroMSP to manage data of available C/I (sale or lease). <br />• Host a property manager/broker open house to share listing resources. <br />• Maintain "Business Development" presence on main city web page. <br />• Consider expanding EDA Micro Loan program citywide for to encourage <br />filling vacant retail/service properties. <br />• Encourage and partner with Chamber to conduct Business Retention & <br />Expansion program focused on retail/service businesses. <br />• Evaluate potential barriers and options to encourage business relocations (e.g. <br />ordinances, fees, SAC/WAC rates) <br />- Identify patterns of vacancy rates to identify areas for potential redevelopment. <br />- Maintain foreclosure information to monitor and address neighborhood issues. <br />Evaluate resources to address issue (e.g. NSP). <br />- Conduct Housing Market Study to identify gaps in market, identify priorities, and <br />role in addressing housing needs (after 2010 census?) <br />- Identify, preserve and maintain prime commercial areas for future development. <br />Ensure tools in place to attract desired development (e.g. ordinances). <br />