6. HRSR 11-06-2006 - Laserfiche WebLink

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B. Land Use Any proposed land uses for the Redevelopment Area shall be consistent with the City's Zoning Ordinance, specifically, to the Downtown District, Section 30-1026. "Commercial and residential parking lots and ramps", as proposed in Phase II, is a conditional use as described in Section 30-1026 (d) (4) (i). At the time any buildings are razed and a new parking area established, the conditional use permit process will be initiated. C. Redevelopment Activities 1. Acquisition The City anticipates the acquisition of the Phase II properties on which the municipal parking facilities will be located. C-ther than that property, other property in the Redevelopment Area maybe acquired in the future by the HRA if and when required to facilitate development or redevelopment within the Redevelopment Area. 2. Relocation It is not expected that any persons will be displaced as a result of the Phase II Redevelopment Plan. Municipal Facilities From time to time, the Housing and Redevelopment Authority, working with the City, will assess not only the need for expansion of the King Avenue parking lot, but the totality of parking needs based on the type and level of future redevelopment. D. Financing Plan 1. Project Budget Attached hereto as Exhibit B is a budget which details estimated development costs associated with constructing and equipping the Phase II improvements as currently contemplated and installing public improvements. The items of cost and the costs thereof shown in the budget are estimated to be necessary based upon information now available. It is anticipated that the items of cost and the costs thereof shown in each category in the budget may decrease or increase, but that the total project costs will not exceed the amount shown above. 2. Source of Funds and Security The HRA is entering into a contract for deed for the Phase II properties, pursuant to Minnesota Statutes, Section 465.71. The contract for deed agreement is payable from the HRA's general sources including tax levies and existing fund balances, and is not limited to a specific fund or specific source of revenues. 3