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Item # 8 <br /> • <br /> City of <br /> Elk --. -� <br /> River <br /> MEMORANDUM <br /> TO: Housing & Redevelopment Authority <br /> FROM: Catherine Mehelich, Director of Economic Development <br /> DATE: October 28, 2002 <br /> SUBJECT: Downtown Revitalization Project <br /> Attachments <br /> • Communications Report from Economic Development Assistant, Heidi Hall <br /> • Tax Increment Finance (TIF) Redevelopment District Requirements <br /> • Preliminary Redevelopment Agreement <br /> • • MetroPlains Development-Project Tasks and Schedule <br /> Background <br /> The primary goal of the Downtown Revitalization Project is to assure the long-term viability <br /> of Elk River's downtown by making a connection to the rest of the community and by <br /> utilizing the riverfront location. Revitalization will enhance downtown Elk River's role as a <br /> residential,retail and commercial neighborhood and also revitalize investment in the <br /> downtown business district. The HRA has selected MetroPlains Development for which to <br /> enter into a preliminary redevelopment agreement for further consideration of a project in <br /> the downtown. <br /> Issues <br /> Following is a status report on a few of the issues related to this project: <br /> Communications <br /> The October 2002 Downtown Revitalization Project Q &A Newsletter was distributed as <br /> an insert in the October 9, 2002 edition of the Elk River Star Newspaper. Economic <br /> Development Assistant, Heidi Hall summarizes recent communication efforts in attached <br /> report. <br /> Project Authority Issues <br /> Jim Prosser of Ehlers &Associates will be present at the HRA meeting to discuss the <br /> anticipated roles and responsibilities of the HRA/City Council throughout the project, <br /> • including;the TIF district, condemnation, and redevelopment agreements. It is important <br /> that the HRA and City Council are clear and comfortable with the various project authority <br /> issues. <br />