5.1. HRSR 12-06-2004 - Laserfiche WebLink

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u Crty of b. Elk River MEMORANDUM TO: Housing and Redevelopment Authority Mayor and City Council FROM: Catherine Mehelich, Director of Economic Development DATE: December 6, 2004 SUBJECT: Consider Development Agreement and Interfund Loan Resolutions for Downtown Revitalization Project Attachments • Project Planning and History • Project Description—November 2004 III • April 28, 2004 Memo Re: Proposed MetroPlains Project (Key Points Agreement) • Development Agreement Between City of Elk River and MetroPlains Development, LLC • Resolution Approving Development Agreement and Business Subsidy • Resolution Approving Interfund Loan on Sewer Access Charge (SAC) • Resolution Approving Interfund Loan on Water Access Charge (WAC) • Resolution Approving Interfund Loan on Jackson Land Issue The HRA is asked to consider making a recommendation to the City Council on the attached Development Agreement and related resolutions. The City Council is asked to consider adoption of the resolutions approving the Development Agreement, Business Subsidy and related interfund loans for the Downtown Revitalization Project. Sid Inman of Ehlers & Associates and Mary Ippel of Briggs & Morgan will be present at the HRA and Council meeting to discuss the agreement. Background In late 2001 the HRA established goals and objectives for the Downtown Revitalization Project. Through a request-for-proposals process MetroPlains Development was selected by the city as having the experience and initial concept that met the city's goals and objectives and vision for downtown Elk River. In August 2002 the HRA and City Council entered into a Preliminary Redevelopment Agreement with MetroPlains Development to refine • redevelopment concepts for portions of downtown Elk River.