5.6. SR 10-27-2003 - Laserfiche WebLink

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River Item 5.6. MEMORANDUM TO: Mayor and City Council CC: FROM: DATE: Housing & Redevelopment Authority Catherine Mehelich, Director of Economic Development//~ October 27, 2003 SUBJECT: Consider Small Cities Development Program Grant Application for Downtown Revitalization Project, Public Hearing & Resolutions Attachments · Notice of Public Hearing · Map of Downtown Revitalization Project Areas · Draft Commercial and Mixed-Use (Residential) Building Rehabilitation Program Local Government Resolution and Compliance Certification · Resolution Identifying "Slum and Blighting" Conditions Background At its meeting on October 27, 2003, the Elk River City Council will conduct a public hearing on the grant application to the MN Department of Employment & Economic Development (DEED). The City of Elk River seeks grant funding from DEED under ks Small Cities Development Program (SCDP). If awarded, the SCDP grant funds will be used by the City to meet two federal objectives: to benefit low and moderate-income residents, and to alleviate blight conditions in the downtown target area. Funds will be requested to reduce the costs of financing commercial and residential building improvements in the downtown target area, and to reduce the cost of developing new rental housing in the target area by supplementing other sources of private and public financing. The purpose of the public hearing is to discuss the funding request to DEED and to discuss the impact this proposed grant has in meeting the City's community development objectives. Following the public hearing, the City Council may consider adoption of the applicable resolutions. The grant is contingent upon the City's final approval of the proposed Bluff Block and Jackson Block projects. Application does not commit the City to final approval.