5. HRSR 11-07-2011 - Laserfiche WebLink

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~~~~ ~~ ver MEMORANDUM TO: Housing & Redevelopment Authority FROM: Annie Deckert, Director of Economic Development DATE: October 31, 201 SUBJECT:. 716 & 720 Main- Maintenance Update ATTACHMENTS: • Inspection summary from Building Official Bob Ruprecht re: 716 Main Street • Memorandum from Loucks Associates dated 9-27-11 re: 716 & 720 Main St. • Memorandum from Building Official Bob Ruprecht re: 720 Main Street BAC KG ROU N D In 2006, the HRA purchased 716 and 720 Main Street in Elk River with the intent to expand downtown surface parking. In November of 2007, the HRA discussed the Elk River Area Arts Alliance's (ERAAA) request to occupy 716 Main Street and authorized staff to draft a lease agreement with the ERAAA for the use of the site, with the understanding that this was a temporary location. In December of 2007, the HRA authorized approval of the lease agreement for $1 /term. Since 1998, the City of Elk River has contributed $97,300 to the ERAAA. In January of 2008, the ERAAA began occupying 716 Main Street. Long term intentions and building maintenance costs were discussed by the HRA approximately 10 times since 2008. Each time it was the consensus of the HRA to utilize the buildings for long term parking, in addition to putting minimal expense into the maintenance of the buildings. In January of 2010, the ER.AAA began covering the insurance payment of $109.08/mo.; prior to that it was covered by the HRA. On December 14, 2010, the ERAAA held an open house to discuss exploring the idea of acquiring the First National Bank of Elk River property. On January 3, 2011, David Raymond, ERAAA Chairman of the Board, provided an update to the HRA indicating that architectural renderings have been completed for the First National Bank building and that they would be hiring a firm to do a feasibility study. If the project was feasible, they would undertake a capital campaign to raise the funds. Mr. N:\Departments\Community Development\Economic Development\lloulton BuildingsVvlaintenance\10-31-11 building update.doc