4.0. HRSR 06-05-2003 - Laserfiche WebLink

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Item # 4 • - / City of Elk -1 River MEMORANDUM TO: Housing & Redevelopment Authority Mayor & City Council FROM: Catherine Mehelich, Director of Economic Development DATE: June 5, 2003 SUBJECT: Downtown Revitalization Project— MetroPlains Presentation Attachment • MetroPlains Preliminary Time Table Background • A Special Meeting of the HRA is scheduled for Thursday,June 5th at 5:00 p.m. at City Hall, for the discussion on the draft Comprehensive Plan and to hear a presentation from MetroPlains Development regarding the Downtown Revitalization Project. The City Council has been invited to attend the presentation. Redevelopment Concept Plans The presentation by MetroPlains Development will include: • project activities to date • review of the original project goals established by the HRA, • review of design concepts,market analysis and financial feasibility • review proposed project timetable The HRA will not be expected to make a final decision on the project plans or financial arrangements. However, the HRA will be requested to identify issues that need to be addressed as part of a final development agreement and grant permission for MetroPlains to proceed with taking the revised concepts to a public open house for feedback. A tentative date for the public open house has been scheduled for Wednesday,June 18th from 6:00— 8:00 p.m. at Lion's Park Center. As part of the proposed timing, MetroPlains anticipates submitting a financing request to the MN Housing Finance Agency by July 24th. As part of the submission, some general consensus issues will need to be reached with details to follow over the next 3 to 4 months. 11111 A special meeting of the HRA in July may be needed to meet this request.