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<br />Consider Arrow Building Center Redevelopment Concept <br />April 5, 2004 HRA Meeting <br />Page 2 of 2 <br /> <br />continues to consider acquisition and relocation to a vacated lumberyard in Becker or <br />relocation and new construction elsewhere. <br /> <br />Issues to Consider <br />There are several issues for the HRA to consider with regard to this redevelopment concept, <br />including: <br />. The HRA has identified the area south of Highway 10 and north of the Nlississippi <br />River a priority downtown redevelopment area. <br />. The HRA has not had an opportunity to review and identify priority redevelopment <br />areas, needs, goals and objectives for any areas north of Highway 10 downtown. <br />. Several adjacent properties, including Martie's Farm Service and the former Hunts Farm <br />& Feed elevator, have been improved with private reinvestment by the owners. <br />. According to the City's policies redevelopment of commercial areas is an eligible use of <br />Tax Rebate Financing and Tax Increment Financing. The project would be required to <br />meet statutory regulations and city policy requirements, including the "but for" test. <br /> <br />Staff is not requesting the HRA's action on this issue until the May HRA meeting. <br />However, staff requests the HRA's feedback on any issues for staff to research and respond <br />to for the May meeting. <br />