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To <br />Mavor and Citv Council <br />Request for Action <br />Item Number <br />9.4 <br />Agenda Section Meeting Date Prepared by <br />Work Session September 21, 2020 Amanda Othoudt, EDD <br />Item Description Reviewed by <br />Modern Construction Downtown Development Cal Portner, City Administrator <br />Concept <br />Action Requested <br />Receive information and discuss. <br />Reviewed by <br />Background/Discussion <br />At their September$ 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 />him to explore a multi -family, mixed -use development concept in downtown Elk River. The HRA is listed as a <br />party to the agreement, since the HRA owns some of the property. The agreement outlines the developer's <br />obligations to the city and the HRA in Section 3. <br />At their September 8, 2020, Special Joint Meeting with the HRA and the Council, Jesse Hartung of Modern <br />Construction presented his project. He requested feedback on four items: <br />Incentives: <br />Agree in principle to the incentives with final decision and dollar amounts based on 3`a party ROI determination. <br />Parking: <br />Accept parking quantities proposed as a worst -case minimum, with an understanding that additional improvements <br />may be possible. <br />Traffic and Streets: <br />Willingness to consider alternate street and traffic flows downtown if studies indicate improvements are possible. <br />Timeline: <br />Commitment that the city will work as fast as I [He] can get final docs back to council for review and approval. <br />Time did not allow for further discussion and direction from the Council was to bring it back for fin-ther <br />discussion. <br />Mr. Hartung is requesting direction from the council on the preliminary development concept. <br />The Elk River Vision F O W E R E R R T <br />A rvelcoming community avith irvolutiona y and spbited nrsow-refulness, exceptional [NATURE] <br />service, and community engagement that encourages and inspires pmsperrty. Updated- August 2020 <br />