5.0.-10.0. EDSR 06-13-1994 - Laserfiche WebLink

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formed to consider land purchases will be meeting with Panger/Benson • to obtain an overview of the Appraisal. 7. EDA Redevelopment Site By way of action at a recent City Council meeting, Councilmember John Dietz requested that the June 13th EDA agenda include a discussion on the Main Street Redevelopment Site. The Council concurred that this was an appropriate issue to discuss in June. At this writing, contact has been made with a prominent housing developer that is based in Minneapolis. This company constructs numerous market rate and subsidized units in Minneapolis and across the metropolitan area. The company is currently evaluating the Main Street site as a potential location for a project. This project would likely include commercial-retail on a Main Street level and numerous floors of housing units above that. Apparently, some members of the City Council desire that the site be converted to a park on an interim basis until such time as it is developed. Plans to convert this site to a park should include the following: • • A plan by the City to repay TIF Districts No. 1 and No. 3 approximately $110,000 in lieu of redeveloping this site; • A plan by the City to utilize City funds for purposes of completing interim improvements to this site; • A Quit Claim Deed conveying the property from the Elk River EDA to the City of Elk River. 8. Novelty Marketing Concepts For the past two years, the Elk River EDA has implemented a targeted, novelty marketing project. This includes the distribution of a novelty item such as the 1992 mailable beverage cooler and the 1993 "thumb" puzzle. These novelty items were mailed out to a random sample of local and metro companies. A follow-up second mailing, containing a City brochure, etc., went out two weeks after the initial mailing. The following items are proposed for the 1994 project: