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JAN. 31. 2002 6: 54PM EHLERS & ASSOCIATES NO. 6256 P. 3 <br /> • <br /> Page 2 <br /> January 3I,2002 <br /> 8. It is likely that tax increment or other forms of assistance will be needed to make redevelopment <br /> financially feasible. It is advisable to begin now to assess the ability to qualify the area as a <br /> Redevelopment District and to explore other financial resources. <br /> 9. Continued attention to public dialog on the purpose,process and status of redevelopment efforts is <br /> key to maintaining public confidence in the project efforts. A key part of the communication is <br /> forecasting of time frame,upcoming decisions and opportunities for public involvement. <br /> 10. The City should carefully monitor potential property acquisition opportunities from willing sellers. <br /> This can help make the redevelopment more affordable due to reduced acquisition and relocation <br /> costs. This m ust be balan ced against <br /> the holding,,ftnancin <br /> costs.Properties that are for sale should <br /> be evaluated for purchase. <br /> 11. The Redevelopment Concepts currently being prepared should be considered a "framework" for <br /> developers in preparation of proposals and not blueprints for exactly what will be built. It is likely <br /> that the final redevelopment result will be quite different (and hopefully better) than initial <br /> Redevelopment Concept. <br /> • 12. The results of the Historical Context study should be used during the design stage,after developer <br /> selection. Design alternatives incorporating elements of the finding can be evaluated for design, <br /> market and financial feasabil ity. <br /> N'\Minnsota\Elk River\Riverfront\Strata&ies.1.31.02,wpd <br /> • <br />