09-24-2001 HR MIN - Laserfiche WebLink

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Housing and Redevelopment Authority Minutes Page 2 September 24,2001 • what the HRA would like to see in the redevelopment area prior to starting the process. Catherine Mehelich introduced Financial Advisor Jim Prosser.Jim Prosser gave a PowerPoint presentation regarding strategies for successful redevelopment. Mr. Prosser outline the key components of a successful strategy including: • Establish clear goals • Develop communications strategy with the public • Verify market feasibility • Assess financial feasibility • Select experienced developer • Define clear and reasonable expectations in a development agreement Following the presentation, Commissioner Thompson inquired on costs for Ehlers redevelopment management services. Mr.Prosser distributed a proposal for financial advisory services in conjunction with the proposed redevelopment of the Downtown Riverfront Area. Discussion was held regarding who would be responsible for payment of these services.The City Administrator noted that it would be appropriate for the HRA to pay for this service, as it is an HRA project. Mr. Prosser noted some of the redevelopment steps have already been started in Elk River, that staff can co some of the background work, and that many of the costs in the proposal would be reimbursed from development fees and tax increment administrative fees from the project. • Following discussion of the proposal for services, the HRA consented to accept the proposal for services from Ehlers &Associates,Inc., and to pay for needed services on an hourly basis from the reserves fund. It was the consensus of the HRA to hold a worksession at the October 22 meeting to talk about downtown redevelopment goals and concepts. 6. Old Business 6.1. Historic Study Update Building and Zoning Administrator Steve Rohlf reviewed the Request for Proposals (RFP) for the Historic Context Study of the Downtown Area. Steve explained the two phases of the process including the historic survey and the evaluation. Steve noted the timeline for survey work indicates draft reports completed in February/March 2002 and a final report to the HRA in April 2002. 7. Other Business Catherine Mehelich updated the HRA on the process of advertising for the Economic Development Assistant position. Catherine Mehelich indicated that the housing study would be ready for the HRA to consider at its next meeting.