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<br />November 19, 2012 -Part I, page 10 - <br />e. Statutory Authority <br />Formally established by the City Council in 1980, the Housing & <br />Redevelopment Authority (HRA) in and for the City of Elk River <br />was formed under the public purposes identified in Minnesota <br />State Statutes Sections 469.001 to 469.047 (Housing and <br />Redevelopment Authority Act). <br /> <br />The Housing and Redevelopment Authority Act grants <br />municipalities the authority to designate redevelopment areas <br />within the boundaries of the municipalities. Within these areas, <br />the municipality may adopt a redevelopment plan and establish a <br />project consistent with the municipality’s public purpose. The <br />projects as contemplated by this plan are consistent with the <br />definition of a “Redevelopment Project” as defined in Section <br />469.002, Subdivision 14. Essentially a “Redevelopment Project” <br />includes any work or undertaking: <br /> <br />1) To acquire blighted areas and other real property for the purpose of <br />removing, preventing, or reducing blight, blighting factors, or the causes <br />of blight; <br /> <br />2) To clear any areas acquired and install, construct or reconstruct streets, <br />utilities and site improvements essential to the preparation of sites for <br />uses in accordance with the redevelopment plan; <br /> <br />3) To sell or lease land so acquired for uses in accordance with the <br />redevelopment plan; <br /> <br />4) To prepare a redevelopment plan, and to incur initiation, planning, survey <br />and other administrative costs of a redevelopment project, and to prepare <br />technical and financial plans and arrangements for buildings, structures, <br />and improvements and all other work in connection therewith; or <br /> <br />5) To conduct an urban renewal project. The term “urban renewal project” <br />may include undertakings and activities for the elimination or for the <br />prevention of the development or spread of slums or blighted or <br />deteriorating areas and may involve any work or undertaking for that <br />purpose constituting a redevelopment project or any rehabilitation or <br />conservation work. <br /> <br />Assuming that redevelopment will occur in multiple phases, the <br />HRA and City Council have previously adopted a series of <br />incremental redevelopment plans within the greater downtown <br />area in order to satisfy Statute 469.028, which requires the HRA <br />to adopt a redevelopment plan prior to accepting a development <br />proposal. <br /> <br />Phase I - In November 2004 the HRA and City Council adopted <br />a Downtown Phase I Redevelopment Plan in conjunction with <br />Tax Increment Financing District No. 21. Phase I is known as <br />Granite Shores and Jackson Place project, which resulted in a <br />total of 67 for-sale condominium units, 32 rental units, and <br />approximately 20,000 square feet of commercial lease space and <br />underground parking. The original name of Granite Shores was <br />The Bluffs of Elk River. <br /> <br />Phase II – In November 2006 the HRA and City adopted a <br />Redevelopment Plan which allowed the HRA to secure a contract <br />for deed on property in order to potentially expand the King <br />Avenue parking lot in the future. The property consisted of two <br />contiguous buildings, 716 Main Street and 720 Main Street, <br />commonly known as “Main Street Mall”. <br /> <br />Phase III - The Illustrative Master Plan is considered the next <br />phase of the City’s redevelopment planning process. Although <br />this Plan is not in reaction to a specific development proposal, it <br />serves to satisfy the statutory requirement for the City to adopt a <br />redevelopment plan prior to accepting and undertaking <br />development proposals within the study area.