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<br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />\\1orksession October 9, 2006 <br /> <br />Item Number <br />5.2. <br /> <br />Prepared by <br />Cadlerme I\.fehelich, Director of <br />Economic De\Telo ment <br />Reviewed by <br />Scott Clark, COllUnunity De'velopment <br />Director <br /> <br /> <br />Item Description <br /> <br />.r\..utllonze an Expanded Do\vnto\vn Rede'Teloptnent Plan and <br />}\. oinhnent of a Taskforce <br /> <br />Introduction <br />For tlle past se"\leral months staff and tlle H~~ llR\Te been \vorking tl1Iougll tlle \vark plan outline tllat <br />\vas adopted by dle HR.A late last year for the Do\vnto\vn North of Higll\vay 10 Rede\Telopment Plan. <br />To date, all of tlle researcll and discussion about goals and strategies, tnarket and financial feasibility llav-e <br />focused on tlus area by itself. <br /> <br />.L\S staff llas been \vorking tl1Iougll and analyzing tlle land use, lnarket potential and financial feasibility of <br />t111S area, it l1as becolne crystal clear tllat tlle rede\relopment of do\VntO\\ln cannot be looked at in its <br />indiv'-idual areas, as identified in the 2001 IYIarket Study: <br />. Core Do\vnto\vn .L~rea <br />. North ofH\\ry 10 .L~rea <br />. \Vestern Transition .L~rea <br /> <br />Rede'velopment of one of tllese areas \vill significantly impaet tlle land use, tnarket potential and financial <br />feasibility in another adjacent area of do\vnto\vn, tllerefore it is difficult to null' analyze tlle opportunities <br />and potential for these areas in and of tlletTIselves. For example, tile de\Telopment of 20,OOO-square feet <br />of conunercial/ retail space in tlle Core Do\vnto\vn reduces tlle lnarket potential and fmancial feasibility <br />for tllls land use to be replicated Nordl of H\vy 10. <br /> <br />Discussion <br />.l~t its October meeting tlle HR.A acted to formally request that the City Council authorize completion of <br />an expanded do\vnto\vn redeveloptnent plan, and tile Council's appointlnent of a taskforce \vitll the <br />follo\ving composition (of \vhiell se,reral individuals \vl10 lla\Te expressed interest in sel\Tmg are noted): <br /> <br />;;,. 4 H~1\ COlwnissioners <br />. S te\vart \'X!ilson <br />. Larry Tadl <br />· Jean Lieser <br />. Louise I(uester <br /> <br />>- 1 Heritage Presel\ration Commissioner <br />. Lance Lindberg <br /> <br />s: \Downtown Revitalization \~vIemos \2006 \RE,Q UEST COUNCIL ACTION 10.02.0G.doc <br />