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7.0. HRSR 06-27-2001
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7.0. HRSR 06-27-2001
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City Government
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HRSR
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6/27/2001
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the Mississippi River for pedestrian walkways, fishing piers and community gathering spaces <br /> based on the City's earlier 1994 Riverwalk concept. Cascade Land Company declined to <br /> • submit a concept plan. <br /> Discussion Points <br /> 1) Is the consideration of the project premature in light of: <br /> a) need for completion and adoption of an overall plan and implementation <br /> schedule? <br /> b) need to complete the historical context study? <br /> 2) If the project is not premature,is the project too extensive? ie should some <br /> buildings be maintained along the river? <br /> 3) If the project is not too extensive,is it consistent with the guiding principles <br /> identified during the prioritization exercise? <br /> • Utilize the River for public/private use <br /> • Create pedestrian-friendly/walkable core downtown <br /> • Increase awareness to downtown <br /> • Locate a traffic generator downtown <br /> • Strengthen gateways to Core CBD <br /> • New construction to compliment traditional design elements <br /> • Preserve/highlight original design&character of existing buildings <br /> • Core CBD oriented to retail <br /> • Northern area oriented to office&housing <br /> • • Create public gathering areas <br /> 4) What,if any, role should the HRA play in the redevelopment of areas in downtown? <br /> a) Nothing <br /> b) Redevelopment financing,via TIF or Tax Rebate Financing <br /> c) Assist with acquisition of land;including eminent domain/condemnation <br /> d) Redevelopment financing and assist with acquisition of land as needed <br /> e) Define development concept;initiate acquisition of land;make formal request- <br /> for-proposals; evaluate and select developer;provide redevelopment financing <br /> f) Enter into short-term exclusive preliminary development agreement with <br /> developer allowing for refinement of plans and financing for development <br /> Recommendation <br /> While no action is necessary at this meeting, staff requests that the HRA provide further <br /> direction to staff and the developer regarding the conceptual proposal,including the desired <br /> level of participation by the HRA. Next steps would include: <br /> • Evaluate ability to establish tax increment financing district within the <br /> redevelopment area <br /> • Direct developer to prepare financial and market feasibility report of project <br /> • Analyze feasibility of financial assistance and proposed development <br /> • Identify need/options for communicating with area businesses,property <br /> owners about issues/concerns <br /> • <br />
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