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Agenda Memo <br /> Page Two <br /> May 21, 1997 <br /> • discussed that, with the completion of the demolition project and other <br /> improvements/activities that have taken place in this area since the <br /> last RFP, there appears to be an advantage to going through this <br /> process once again. If the HRA so desires, staff would prepare such <br /> RFP for approval at the June HRA meeting. For your information <br /> staff has attached a copy of the last RFP on this site. <br /> Additionally, if the HRA pursues another RFP, it would be reasonable <br /> to assume the $225,000 offer for the purchase of the property by, <br /> developer Denny Chuba would not be received, at least within the time <br /> frame of July, 1997. If the HRA chooses to pursue the RFP, it will <br /> likely need to be flexible on the "asking price" for the sale of the <br /> property. Therefore, staff has also attached a revised King and Main <br /> loan repayment schedule considering the fact that the $225,000 would <br /> not be received. This revised schedule is for review and discussion by <br /> the HRA. <br /> 5.2. Discuss Future Activities Regarding Implementation of <br /> Strategic Plan <br /> The City Council formally adopted the Strategic Plan on May 19, 1997. <br /> al With formal adoption comes implementation of various action steps <br /> which fall under the leadership and direction of the HRA. It is <br /> appropriate at this time to discuss the timing of undertaking these <br /> action items in cooperation with the Planning Commission. These <br /> action items include undertaking a Focus Study and Market Study in <br /> addition to identifying and prioritizing the redevelopment sites in the <br /> central business district. It would be appropriate to take initial steps <br /> to begin undertaking these action items at the HRA meeting in June. <br /> 6.1. Discussion on Changing June 23rd Meeting Date <br /> Due to the Elk River Area Chamber of Commerce golf outing scheduled <br /> for Monday,June 23, 1997, staff suggests that the HRA reschedule its <br /> meeting on that day for Tuesday, June 24, 1997, at 5 p.m., at City <br /> Hall. <br /> • \\elkriver\sys\shrdoc\eda\hra\agdamemo.doc <br />