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of <br />ver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Development ~/~ <br />DATE: February 2, 2005 <br />SUBJECT: Downtown Revitalization Project Update <br />Attachments <br />• King Avenue Parking Lot Taskforce, January 4, 2005 meeting minutes. <br />• Article "Downtown vision takes shape" Pioneer Press, January 9, 2005. <br />Background <br />The City entered into a development agreement with MetroPlains Development at the end <br />of last year. Since that time staff has been working closely with MetroPlains to make <br />progress on a number of activities leading up to the anticipated summer project <br />construction. <br />Current Activities <br />Bluff Block Properties <br />A purchase agreement has recently been executed for the Nadeau's property. In addition to <br />the Nadeau property MetroPlains now has acquired two out of the three Bluff Block <br />properties. MetroPlains continues to make progress securing a purchase agreement with US <br />Bank and anticipates completing acquisition of property within a few months. Conworth, <br />Inc. has been contracted by the City to provide the necessary relocation services by law to <br />the owners and tenants of the properties as applicable. <br />King Avenue Parking Lot Improvement <br />Assistant Director of Economic Development, Heidi Steinmetz is working closely with the <br />King Ave Parking Lot Taskforce and their monthly meetings to provide input on the <br />parking lot design and enforcement options. Meeting minutes from the first taskforce <br />meeting is attached for the HRA's review. Within the next two months the City Engineer <br />will formalize construction plans and bid specifications fox the City Council's approval and <br />construction in June. <br />River's Edge Greenspace Improvements <br />