9.0. EDSR 04-11-2005 - Laserfiche WebLink

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• City of Elk River 2004 Annual Report • • Utilize existing city plans, such as the Comprehensive Plan and the Economic Development Strategic Plan, to guide housing decisions. • Utilize workforce data (updated quarterly by the State of MN) to analyze the types of workers and wages in Elk River and compare it to housing affordability/availability in Elk River. • Continue to consider the appropriate housing balance for Elk River. • Consider conducting an informal housing survey to manufacturers and retail/service businesses on a biannual basis. Downtown North of Hwy I0 Visioning Prompted by a Tax Abatement application from Arrow Building Center that was later withdrawn, the HRA began a visioning process in late June of 2004 for Downtown North of Hwy 10. As part of this process, the HRA reviewed the redevelopment process, the recent planning efforts, and the current conditions of the area. The HRA then developed a study area boundary and long-term vision for the area. The study area and the long-term vision was incorporated into a series of concept options for the area. The approved concept includes mixed use, retail service, and single family rehabilitation in the area. It was of HRA consensus that the approved concept plan be utilized when responding to redevelopment proposals and inquiries from the private sector and that staff continue to monitor the area for development activity and update the HRA as needed. • Downtown Revitalization Project In late 2001 the HRA developed goals and objectives for the Downtown Revitalization Project. The goal of the project is to enhance downtown Elk River as a vibrant retail, commercial and residential area and revitalize private investment downtown. Following a request for proposals and interview process the HRA selected MetroPlains Development as the project developer in August 2002 and entered into a preliminary redevelopment agreement together. Over the past 2 years the city and developer have completed a number of steps to refine the project including market and financial feasibility studies and gathering community input on the project proposed as follows: The plan for the Jackson Block includes a three story building with about 10,000 square feet of first floor commercial along Main Street and Jackson Avenue;32 units of rental housing and approximately 50 underground parking stalls and 16 surface stalls. The plan for the Bluff Block includes a four story building with about 10,000 square feet of commercial space along Main Street; 60 to 68 units of for-sale housing and approximately 110 underground parking stalls. Discussions to address parking concerns, financing, and the development agreement continued in 2004 with several issues being resolved by the end of the year. The HRA and Council supported the concept to remove the Elk River Municipal Utilities • building and close the King Avenue-Highway 10 access in order to expand the public parking lot in this area. Preliminary designs indicated the addition of up to 50 parking stalls. Construction of the parking lot is anticipated to begin spring 2005 with summer completion.