8.0. EDSR 01-08-1996 - Laserfiche WebLink

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1996 Economic Development Work Program Page 2 • the city and EDA will likely continue to provide public financing programs and incentives on a case by case basis. 1996 may not be too early to begin discussions with the adjacent owner of Business Park property to ensure that it is available for immediate development as more and more light manufacturing companies are attracted to the Center's initial phase. 2. CENTRAL BUSINESS DISTRICT ACTIVITIES A. County Administration Building: The department will continue to work with the listing agents as well as the inquiries it receives on the Sherburne County Administration Building in downtown Elk River. The building may require extraordinary costs due to its rehabilitation for a prospective user. Therefore, public financing and/or incentives from, say, the Elk River HRA may be necessary. B. King Avenue/Main Street Redevelopment Area: Three contiguous parcels in the northwest quadrant of King Avenue and Main Street in downtown Elk River continue to be listed for sale. The 32,400 square foot site (180 feet by 180 feet) is ripe for redevelopment as two of the three parcels are currently vacant. The remaining parcel has reverted back to a residential use and serves as a non-homesteaded apartment. Because of the extraordinary costs associated with site assembly, demolition, and site preparation, a TIF District may have to be created to assist with this area's successful redevelopment. The department will continue to solicit developer interest in order to encourage private sector reinvestment into this area. C. Mississippi Riverfront Pathway Project: The department will continue to build upon the momentum of the efforts of the Riverfront Corridor Committee. By April or May of 1996, it is expected that the city will learn of its fate with the Intermodal Surface Transportation Efficiency Act (ISTEA) Grant application. •