6.0. HRSR 05-03-2004 - Laserfiche WebLink

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Item 1 6 • City of Elk -�-1 River MEMORANDUM TO: Housing & Redevelopment Authority FROM: Heidi Steinmetz, Assistant Director of Economic Development S DATE: May 3, 2004 SUBJECT: Arrow Building Center Redevelopment Project Update Attachment Arrow Building Center Redevelopment Concept Area Location Map Background HRA Review • At its April 5, 2004 meeting, the HRA reviewed Arrow Building Center's preliminary request for Tax Rebate Financing(TRF) to assist with the demolition and asbestos removal for the proposed redevelopment project. Attached is the location map for the proposed project. The project consists of the construction of two new facilities;a 6,400 square foot office/showroom building and a 12,840 square foot warehouse building located at the intersection of King Ave and State Street,north of Hwy 10 and the railroad. The concept includes the removal of the existing Eagles Club building, the former NAPA building,Arrow Building Center office building and two warehouse buildings. In addition, the applicant will request a Conditional Use Permit (CUP) and Street Vacation. The HRA's consensus was that Arrow Building Center proceed with staff in completion of the TRF consideration process and that the HRA review and identify priority redevelopment areas,needs,goals and objectives for downtown,north of Hwy 10, at a future time rather than delaying the proposed project. City Council Review At its April 19, 2004 meeting, the City Council considered the redevelopment and Street Vacation concept. Comments were received by the Council but no action was requested by staff. Feedback included the issue that the City should be proactive rather than reactive regarding the redevelopment and vision for downtown, north of Hwy 10. However, the • Council concurred with the HRA to not delay the proposed project.