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• 4M Fund <br /> • Norwest Bank <br /> • • FirstBanks, N.A. <br /> It is recommended that the HRA designate the above-referenced <br /> banks/institutions as its official depositories for funds in 1998. <br /> 6. Discuss Issues/Objectives for 1998 <br /> • King and Main Property-The King and Main site has been the <br /> focus of attention for the HRA over the past 18 months. All <br /> activities and expenses related to this site were completed inmid <br /> summer of 1997. Since that time staff and the HRA have worked <br /> with Dennis Chuba to attract possible tenants to the site. To date <br /> there has not been a great deal of tenant interest in locating at the <br /> King and Main site. Staff has had several conversations however, <br /> with possible professional/medical tenants who have indicated they, <br /> may have a future interest. Toward the end of 1997, it appeared as <br /> though the HRA might receive an offer to sell the property for a <br /> professional business which would construct an 8,000 to 10,000 <br /> square foot building. This obviously did not occur, but may still be a <br /> possibility in 1998. <br /> • There are several options which the HRA may wish to direct staff to <br /> pursue regarding the sale and development of this site in 1998. <br /> These options include: <br /> •` Create and distribute a brochure describing the location and <br /> benefits of the King and Main property. Brochure could <br /> include a conceptual site plan showing a building footprint <br /> and on-site parking. Brochure would be distributed to local <br /> and area real estate offices. Brochure could indicate that <br /> brokerage fees will be paid for agents bringing a project to <br /> the HRA. <br /> • Construct a "for sale" sign on the existing sign on the site. <br /> • Continue to pursue local businesses which have indicated a <br /> potential interest in the site. <br /> • Downtown Master Plan The issue of creating a Downtown <br /> Master Plan has been discussed for quite some time by city staff and <br /> City Council. The issue also appeared as an initiative in the <br /> Economic Development Strategic Plan which was completed in <br /> 1997. Economic Development and Planning staff began work on a <br /> Downtown Master Plan by coordinating a meeting between the <br />