7. HRSR 02-06-2012 - Laserfiche WebLink

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ITEM # 7. diver MEMORANDUM TO: Housing & Redevelopment Authority FROM: Annie Deckert, Director of Economic Development DATE: February 6, 2012 SUBJECT: 716 & 720 Main Street Site Improvements BACKGROUND In 2006, the HRA purchased 716 and 720 Main Street in Elk River with the intent to expand downtown surface parking. On October 3, 2011, the HRA authorized staff to obtain proposals for costs to demolish the Main Street buildings. On December 12, 2011, the HRA approved a contract with Veit and Company for the demolition and removal of the buildings. The buildings were demolished and removed the week of December 26. Additional details can be found on the attached project summary from project manager Randy Schumacher with The Schumacher Group, LLC. DISCUSSION The purpose of this item is to discuss moving forward with the site improvements of 716 and 720 Main Street. Past strategic planning and goal setting efforts have resulted in the following which can be applied to the HRA site: 2009-2012 Economic Develo~iment Strategic Plan (adopted by the HKA, EDA and City Council in the summer of 2009) o Outlines rehabilitation and redevelopment as a key goal. The objective is to undertake strategies that facilitate rehabilitation and redevelopment of deteriorating commercial and residential areas to ensure private reinvestment and sustainability. One of the strategies is to identify potential. areas fox revitalization o Outlines community image and marketing as a key goal. The objective is to identify a desired image and strategies to effect necessary changes to achieve that vision • 2011 Vision and Goals (approved by the City Council in October 2010)