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Item # 7 <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: April 28, 2003 <br /> SUBJECT: Downtown Revitalization Project Update <br /> Attachment <br /> • Article: "Multifamily an important cog in mixed-use developments", March 31, 2003, <br /> MN Real Estate Journal. <br /> • Staff will provide a brief verbal report on the status of the Downtown Revitalization Project, <br /> including: <br /> • Preliminary plans for Public Open House <br /> • Next edition of Downtown Revitalization Q&A Newsletter <br /> • Preliminary plans for MetroPlains presentation to the HRA and City Council in May <br /> The attached related article cites reasons why a multi-family component is important in <br /> mixed-use developments,including: <br /> • Adds a higher density of population to a specific area <br /> • Broadens the tax base of a nearly developed community <br /> • Creates an energetic atmosphere downtown <br /> • Cuts down on urban sprawl and overuse of automobiles <br /> • Supports the financial feasibility of a project <br /> • Creates a transition from single-family to retail areas <br /> • <br />