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Request <br />Action Requested <br />Approve, by motion, an amendment to the Preliminary Development Agreement with Modern <br />Construction of Minnesota, Inc. <br />Background/Discussion <br />At their October 4, 2019, meeting, the HRA and the Council entered into a preliminary development <br />agreement with Modern Construction. The agreement allows the developer to explore the idea of a multi- <br />family, mixed -use development concept in downtown Elk River. <br />Attached is a letter from Jesse Hartung requesting an extension of his agreement with the city to allow <br />him time to further develop his plans for downtown redevelopment. A joint meeting with the HRA and <br />the Council will be scheduled for June 1, 2020. <br />Financial Impact <br />N/A <br />Attachments <br />■ Letter of Request from Modern Construction of Minnesota, Inc. (January 16, 2020) <br />■ Executed Preliminary Development Agreement <br />■ Amendment to Preliminary Development Agreement <br />The Ells River Vision <br />A xelcoming community imth nevolutiona y and sphzted nesouivefulness, exceptional a W E B E l I r <br />service, and community engagement that encourages and inspires pivspeiztyATURE <br />