02-06-2006 HRA - Laserfiche WebLink

Home Browse Search

Housing & Redevelopment Authority February 6, 2006 5. Downtown Revitalization Project U1date Page 2 Director of Economic Development Catherine Mehelich stated that the Downtown Revitalization Q&A Newsletter provides an update on the downtown revitalization project and responds to some of the recent questions regarding the project. Ms. Mehelich stated that it is staffs goal to distribute this newsletter at least quarterly while the project is taking place. She noted that she also provided an update on downtown activities on the Mayor's Show, Klin!�ing Thoughts, which will air on the city's cable channel. Ms. Mehelich indicated that questions continue to be raised regarding the lack of visible construction activity in the downtown area. She explained that construction is ready to go pending refinement of the development agreement regarding MetroPlains financing. Ms. Mehelich indicated that the HRA's attorney at Briggs & Morgan revised the agreement and it is currently under review by MetroPlains. Ms. Mehelich indicated that MetroPlains has also recently completed its presale requirements, which have been exceeded for the Bluff Block. Ms. Mehelich stated that there is a new sign erected at the site of the future River's Edge Park that includes a concept drawing of the future park. Ms. Mehelich indicated that the City Council will be considering the business subsidy and tax abatement for The Bank of Elk River at their meeting tonight and the County Board of Commissioners will be reviewing the request at their February 14 meeting. Ms. Mehelich stated that staff is awaiting plans for review from The Bank of Elk River and noted that The Bank's expansion could force some changes in traffic and construction staging downtown. Chair Wilson questioned if a start date has been set for construction of the park. Ms. Mehelich indicated that the park project is scheduled for spring. She noted that the park construction and The Bank of Elk River expansion could be concurrent with the downtown project which will limit the amount of time that downtown is disrupted. Chair Wilson indicated that he believes it may be a good idea for MetroPlains to come to a future HRA meeting to provide an update on the downtown project. The HRA concurred. Community Development Director Scott Clark explained that part of the reason why the development agreement is taking a while to refine is that Tax Increment Financing (TIF) is being used as part of the construction financing and the original development agreement was not written to include MetroPlains selling the TIF note at the beginning of construction. Review Draft Goals & Strategies for Downtown North of Highway 10 Redevelopment Plan Assistant Director of Economic Development Heidi Steinmetz reviewed background information on the draft goals and strategies for downtown north of Highway 10 redevelopment plan. Ms. Steinmetz stated that in November 2005, the HRA adopted a work plan that outlined the components to completing the redevelopment plan. She stated that in December 2005, the HRA completed a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis which became the core of the draft goals and strategies document. Ms. Steinmetz reviewed the study boundary area that the HRA defined in June of 2004 and questioned if the HRA agrees with how the areas have now been split up in four sub - planning areas. Commissioner Morin indicated that he would like to see sub -planning area one broken into two areas (separating off the single-family homes). Director of Economic Development Catherine Mehelich stated that the area could be split to add a fifth area.