9.3. SR 01-04-2021 - Laserfiche WebLink

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Request for Action To Item Number Mayor and Cite Council 4.6 Agenda Section Meeting Date Prepared by Consent October 5, 2020 Amanda Othoudt, EDD Item Description Reviewed by Amendment to the Preliminary Development Cal Portner, City Administrator Agreement with Modern Construction of Reviewed by Minnesota, Inc. Action Requested Approve, by motion, an amendment to the Preliminary Development Agreement with Modern Construction of Minnesota, Inc. Background/Discussion On October 7, 2019, the HRA and the Council entered into a preliminary development agreement with Modern Construction. The agreement allows the developer to explore the idea of a multi -family, mixed -use development concept in downtown Elk River. At their September 21, 2020, meeting, the City Council approved Jesse Hartung's request for an extension of his agreement with the city to allow him time to further develop his plans for downtown redevelopment. A joint meeting with the HRA and the Council will be scheduled on January 4, 2021. Financial Impact N/A Mission/Policy/Goal Mississippi Connections Plan — Mid-term goals: City partnering with property owners and the development community to implement redevelopment projects that meet the community vision. Continue to assist in the recruitment of highly desirable businesses to the core downtown (e.g. hotel, fine dining, banquet facility). Mississippi Connections Plan — On -going goals: Based on demand, work with property owners and development community on redevelopment proposals. Attachments ■ Executed Preliminary Development Agreement • First and Second Amendment to Preliminary Development Agreement ■ Third Amendment to the Preliminary Development Agreement The Elk River Vision A welcoming community with rrvolutiona y and spirited msourcefulness, exceptional service, and community engagement that encoutuges and ins�iires pivspeiily. ► 8 W E R E 0 1 Y ATLOE Updated. August 2020