6.0. HRSR 11-24-2003 - Laserfiche WebLink

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ITEM # 6. Elk River MEMORANDUM TO: Housing & Redevelopment Authority FROM: Catherine Mehelich, Director of Economic Development� DATE: November 24, 2003 SUBJECT: Downtown Revitalization Project Update Attachments • Draft Minutes of the November 12, 2003 River's Edge Business Association Meeting. • Related Article from the "Understanding New Urbanism&Redevelopment" conference sponsored by the University of St.Thomas and the MN Real Estate Journal. • Editorial "Downtown offers a i zratizead age",Grand Forks Herald, Sunday, November 16, 2003. Recent Project Activities Development Agreement Negotiations Consistent with the HRA's action at the July and October meeting, staff continues to work closely with the project attorney and the developer to prepare a draft agreement for the HRA's review and consideration at a future regular meeting. Issues being discussed include, but are not limited to,project costs/financial feasibility and, firm commitments for the redevelopment of both the Jackson and Bluff Blocks. Staff also continues to work with city attorney,Peter Beck to research the title and ownership of the Jackson Square property. As reported at the October HRA meeting, an abstract has recently been created for the property. Also a survey and legal description has been recently been prepared by the city engineer in order to prepare a title commitment. Parking Plans In the past few months the HRA has been considering staff's research to issues and questions raised by the public with regard to MetroPlains'concept for the redevelopment of the Jackson Block and Bluff Block. The I-IRA and City Council have recognized that parking is a very important issue of concern to downtown business and property owners. Per the city's request,the City Engineer Terry Maurer is researching the following items: • Cost estimate for removal of Municipal Utilities building • King Ave and rear"Brick Block" parking lot layout,costs,timetable and # stalls