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fi Item# 5b <br /> City of <br /> Elk - -- <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority 9� <br /> FROM: Catherine Mehelich, Director of Economic Developmen�t'��% <br /> DATE: August 27, 2001 (/ <br /> SUBJECT: Riverfront Redevelopment Proposal -- Update <br /> The HRA and Planning Commission identified the redevelopment of the old Star News and <br /> Riverfront property as a priority project within the Downtown Redevelopment Plan. At the <br /> July 23, 2001 meeting the HRA briefly discussed inviting additional developers to submit <br /> redevelopment concepts for the downtown riverfront area. At this time staff has provided <br /> information about the redevelopment opportunity upon the request of three developers <br /> • including: Best&Hempel, Dynamics Design, and recently AMCON Construction. <br /> Should the HRA choose to request concept proposals from a broader range of developers, <br /> staff recommends the HRA define a vision and parameters for the desired redevelopment <br /> project. The parameters may include: <br /> • Amount and type of housing component desired <br /> • Amount and type of retail/office space desired <br /> • Scope or area to be included in the project <br /> • Project relationship to the River <br /> • HRA role and involvement in the project <br /> At this time developers are simply responding to a vague vision for the downtown/project <br /> area and information provided from the Market Analysis. Most successful redevelopment <br /> projects include a specific vision for the redevelopment prior to a request for concept <br /> proposals. <br /> This may be accomplished either by awaiting the completion of the Downtown <br /> Redevelopment Plan (Fall 2001), or separately as a special worksession of the HRA and <br /> incorporated into the Redevelopment Plan. <br />