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HRA Agenda Memo <br /> March 26,2001 Meeting <br /> Page 3 <br /> . • <br /> • Development of Strategic Industrial Marketing Plan <br /> Construction of Business Center Drive <br /> • Development of King&Main site <br /> • Modification of TIF Policy and adoption of Tax Rebate Financing Policy <br /> While it is important that the City,HRA,and EDA work together to accomplish the <br /> established common goals, the HRA's primary role has been to facilitate <br /> redevelopment activities on East Highway 10 and in the Central Business District. <br /> Completion of the Downtown Redevelopment Plan in 2001 will provide direction <br /> for accomplishing many of the identified CBD activities. <br /> In addition,the Plan includes goals for similar redevelopment planning efforts on <br /> East Highway 10, including: <br /> • Develop criteria for designating redevelopment areas <br /> • Develop database of East Hwy 10 properties <br /> • Consider locating additional sites for Elk River monument/entry signage. <br /> • Examine use of Redevelopment Financing Program along East Hwy 10 <br /> Revisions and additions to the Plan will be completed during a similar process in Fall <br /> 2002 for years 2003-2005. <br /> S <br /> 8. Other Business/Information Only <br /> Sherburne County has recently approved up to$1,317,928 in MN Housing Finance <br /> Agency (MHFA) mortgage revenue bonds be designated for Sherburne County <br /> recipients through the MN City Participation Program. The proceeds will provide <br /> below-market interest rate home mortgages for low-and moderate-income families. <br /> The loans are originated and administered through local lenders approved by <br /> MHFA. <br /> • <br />