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MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Lance Lindberg, Chair of the HPC <br />DATE: May 19, 201 I <br />SUBJECT: HRA Properties - 716 & 720 Main Street <br />The Heritage Preservation Commission met on Thursday, April 21, 2011. During the <br />meeting, the HPC recapped the presentation given by Bonnie McDonald, Preservation <br />Alliance of MN and joint meeting with the HRA in April. I have attached a copy of the <br />presentation she gave. <br />Staff informed the HPC of the recent discussion by the HRA regarding 716 & 720 Main <br />Street and whether to rehabilitate ox remove the buildings. The HPC would recommend <br />restoring the buildings. The buildings add to the character of the downtown and if restored <br />could add to the economy of the downtown by providing another location fox a start-up <br />business. As was stated during Ms. McDonald's presentation: <br />• Reinvesting in underutilized historic properties adds to the tax base <br />• Promotes investment into surrounding properties <br />• Preservation produces jobs <br />• Historic buildings provide diverse lease space options fox businesses and job creation <br />• Rehabilitation costs less than demolition <br />• Preservation is more sustainable <br />• Historic buildings can be more energy efficient <br />• There axe funding sources available for restoration of historic buildings <br />The HPC would be willing to further discuss the opportunities fox these properties with the <br />HRA. <br />N:\llepactmcnts\Communih~ Development\Environmental\HPC\Ltr [o HIiA.doc <br />