11-16-1994 HR MIN - Laserfiche WebLink

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HRA Minutes November 16, 1994 page 3 • valued at $100,000. The roof is in general need of repair and contributed from this deviation from the listing price of $125,000. Secondly, the 812 Main Street property is functionally obsolete. That is, the structure on the property does not contribute to its overall value. Therefore, the appraisers indicated that it has a "land only" value of$74,000, or, $5.14 per square foot. Bill Rubin outlined the following options for the HRA: • Proceed in partnership with the restaurant developer interested in the 307 King Avenue NW site; • contact other potential developers in order to solicit interest in developing the three sites; • proceed with acquisition of the sites in the absence of a firm commitment of a developer; or, • do nothing Bill Rubin suggested that it may be very speculative to begin acquiring these properties without a commitment from a developer. However, it may be appropriate for the HRA or for the City to begin assembling these parcels on a case by case basis. Bill Rubin indicated to the HRA that a tax forfeit sale on the 812 Main Street property is scheduled for December 5, 1994. Sherburne County allows a one year redemption period for property owners whose land has gone tax forfeit. It was suggested that the County consider reviewing this policy so that redevelopment agencies can acquire property on more favorable terms or at a discount as compared to an estimated fair market value of the site(s). • Commissioner Kroupenske also suggested that the proposed developer of the 307 King Avenue site be contacted to determine if he is interested in acquiring an adjacent site as opposed to the HRA acquiring it on his behalf and retaining ownership long-term. Mark Kleckner, Real Estate Agent at Century 21-White Dove, and representative of Jeff Krueger, the proposed developer of 307 King Avenue, addressed the HRA regarding the Cl, Central Commercial off-street parking standards. He suggested that the HRA/City begin looking at how those standards can be reduced or relaxed in the Central Business District. He suggested that property in the Central Business District is extremely valuable, and, if the off-street parking standards are not reduced, no one will be interested in redeveloping downtown areas. COMMISSIONER KROPUENSKE MOVED TO HAVE THE HRA CITY STAFF REVIEW THE Cl, CENTRAL COMMERCIAL OFF-STREET PARKING REGULATIONS. COMMISSIONER DUITSMAN SECONDED THE MOTION. THE MOTION CARRIED 5-0. COMMISSIONER KROPUENSKE MOVED TO AUTHORIZE THE EXECUTIVE DIRECTOR TO MEET WITH COUNTY OFFICIALS TO DETERMINE IF THE COUNTY WOULD REVIEW ITS I YEAR REDEMPTION POLICY ON A CASE BY CASE BASIS. COMMISSIONER TOTH SECONDED THE MOTION. THE MOTION CARRIED 5-0. 6. Consider payment to the City of Elk River for public improvements to the former City Hall site