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ITEM # 6. <br /> City of <br /> Elk <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> /- <br /> FROM: Heidi Steinmetz, Assistant Director of Economic Development <br /> DATE: September 7, 2004 <br /> SUBJECT: Update on Three Properties for Sale on Main Street <br /> Attachments <br /> • Photos of Three Properties for Sale on Main Street <br /> • Zoning Map <br /> • Background <br /> At its August 2, 2004 meeting, the HRA directed staff to research the details of three <br /> properties for sale on Main Street downtown north of Hwy 10. Photos of the three <br /> properties are attached in addition to a zoning map. The HRA indicated interest in <br /> considering the area for redevelopment. The properties are located within the Study Area <br /> Boundary defined by the HRA at its June 30, 2004 Work Session. <br /> After discussing the status of the properties with the three listing agents, staff received three <br /> inquires regarding interest in the redevelopment of the properties potentially for commercial <br /> use. <br /> The following is additional information on the properties: <br /> Address Listing Current Use Days Listed <br /> Price (as of 9-3-04) <br /> 430 Main St. $164,900 residential (owner occupied) 42 <br /> 420 Main St. $215,555 residential (owner occupied) 187 <br /> 414 Main St. $164,900 residential (rental) 79 <br /> Total$545,355 <br /> • <br />