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Request for Action <br />To <br />Item Number <br />Mayor and City Council and the HRA <br />2 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Work Session <br />September 8, 2020 <br />Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Modern Construction — Downtown <br />Cal Portner, City Administrator <br />Development Concept Discussion <br />Reviewed by <br />Action Requested <br />Receive information and discuss. <br />Background/Discussion <br />At their September 3, 2019, Work Session, the City Council heard a presentation by Modern Construction on a <br />high density, market rate, mixed -use development concept in downtown Elk River. <br />On October 7, 2019, the Council entered into a preliminary development agreement with the developer allowing <br />the developer to explore the idea of a multi -family, mixed -use development concept in downtown Elk River. The <br />HRA is listed as a party to the agreement, since the HRA owns some of the property. The agreement outlines the <br />developer's obligations to the city and the HRA in Section 3 of the agreement. <br />Jesse Hartung of Modern Construction will present his plan for the project. In addition, he will discuss parking <br />improvements, review proposed traffic study parameters, provide a general outline for financing and construction <br />timelines as well as proposals to support local business during construction. <br />Staff is seeking feedback from the Council and the HRA on next steps. <br />Financial Impact <br />N/A <br />Mission/Policy/Goal <br />Mississippi Connections Plan — Mid-term goals: City partnering with property owners and the development <br />community to implement redevelopment projects that meet the community vision. Continue to assist in the <br />recruitment of highly desirable businesses to the core downtown (e.g. hotel, fine dining, banquet facility). <br />Mississippi Connections Plan — On -going goals: Based on demand, work with property owners and development <br />community on redevelopment proposals. <br />Attachments <br />• Preliminary Development Agreement <br />• Mississippi Connections Plan <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires pi ospei ly. <br />M <br />TUREJ <br />Updated.• August 2020 <br />