7.0. EDSR 10-14-2002 - Laserfiche WebLink

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sij Vaøtaa' RetJt&&4twItT • City of 8cA Newsletter Elk , IRis.Ter OCTOBER 2002Enhancing Downtown Elk River's Role �' rz - Asa Vital Retail,Commercial and Residential Area. Q. What is happening with the revitalization and analysis of market feasibility,financial feasibility,as well as communi- redevelopment of Elk River's downtown? ty input. It is possible that as a result of this review,the exact proper- A. The Elk River Housing and Redevelopment Authority(HRA)and City ties to be acquired and the project area may change somewhat.An Council will enter a preliminary development agreement with open house will be held later this year for public input into a prelimi- MetroPlains Development for the downtown revitalization project.The nary site plan. HRA selected and the City Council ratified the selection of MetroPlains from three finalist developers at its August 26 meeting. Q. Do we know at this point which downtown City officials said MetroPlains demonstrated the most experience on buildings will be excluded from the development? similar projects and had received a high level of support at the July A. No,we do not have those specifics yet. However, consistent with the open house from residents and the busi- recently completed Historic Contexts Study,the ness community. project will respect the traditional character of This Q&A newsletter downtown.We do know the project will exclude Q. What happens next? responds t, some the"brick block"which includes the buildings A. The HRA and the developer will enter a pre , along the west side of Jackson Avenue south of liminary development agreement in the corn- :Of the recent questions Highway 10. 41 ing months.During the preliminary develop- about Elk River's ment agreement phase,the developer works with the City to identify issues that must be ;downtown revitalizat n, Q What will happen to the existing addressed prior to the final development businesses in the downtown agreement phase.These issues include and-ti:- elapmer t, redevelopment area? financial and market feasibility,project sched- ,,,, .,. .- :, .. A. What typically happens in other downtown ule,and a refined site plan. If the City chooses to move forward to a redevelopment efforts is that some businesses final development agreement,that is when the planning and zoning choose to stay and some choose to relocate.The developer will approvals, land acquisition and construction will occur, work with downtown business owners within the project area to iden- tify their interests and how they could be incorporated in any Q. What is the timetable for a downtown project rede- velopment plans. For those businesses that do not stay,arrange- to occur? ments for acquisition and for relocation assistance will be offered. A. The HRA expects to enter a preliminary development agreement with MetroPlains in October.The preliminary development agreement Q. When will the developer contact downtown phase is expected to last for at least six to nine months with a com- businesses and property owners? munity open house later this year on preliminary site plan options. If A. MetroPlains will start to make initial contacts with property owners the developer satisfactorily completes the preliminary development and tenants this fall after a preliminary development agreement has agreement phase,the City and developer would enter a final devel- been reached with the HRA. Property is not actually acquired until a opment agreement.The earliest construction could begin would be final development agreement has been reached by the City and sometime in 2004. the developer. Q. Does MetroPlains already have a completed Q. If my business or home must relocate in the plan for the project? future,will I receive any financial assistance? A. No, but MetroPlains has a concept for redevelopment which A. Businesses and residents who are required to relocate from the includes the following sites: redevelopment area are provided relocation assistance to help with • East King Avenue and the northeast corner of moving costs,as provided for under the Uniform Relocation King&Main, and, Assistance Act. Properties that are purchased for redevelopment • The southwest corner of Main and County Road 42 must be purchased at fair market value.That value is determined by (Parrish Avenue Bridge). a professional appraisal. In situations where communities are under- taking redevelopment,the acquisitions are typically accomplished The next step will involve refining the MetroPlains concept for through voluntary sales.