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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Housing and Redevelopment Authority <br /> _FROM: Paul T. Steinman, Director of Economic <br /> `/ Development <br /> DATE: June 20, 1997 <br /> SUBJECT: Agenda Memo for Meeting on Tuesday, <br /> June 24, 1997 <br /> 5.1. King and Main Project <br /> The purpose of this discussion item is to update the HRA on the <br /> activities of the King and Main project. <br /> At the last HRA meeting, it was discussed that the HRA should <br /> consider pursuing a new RFP (Request for Proposals) to see if that <br /> could generate additional interest in the King and Main site. After <br /> further discussion it was determined that a new RFP would not be <br /> pursued, but rather the following activities would be undertaken: <br /> • Meet with developer Dennis Chuba to continue to pursue <br /> methods to encourage tenant interest in the site. <br /> • Meet with other developers to measure their possible interest <br /> if the HRA were to pursue a future RFP. <br /> Staff met with Bill Beard, the Beard Group,and Roman Roos, a <br /> broker/agent of Re/MAX and an independent developer. Attached to <br /> this memo is a letter of interest from the Beard Group and, although <br /> Mr. Roos indicated his interest also, his letter was unavailable for this <br /> packet. As expected, both developers indicated a certain level of <br /> interest in the site, but were unable, or more likely unwilling, to <br /> discuss a possible purchase price before they were able to measure <br /> tenant interest in the site. <br /> Staff also met with Dennis Chuba to discuss a few of the option which <br /> are available at this time. These options are as follows: <br /> P.O. Box 490 • 13065 Orono Parkway • Elk River, MN 55330-1743 • (612) 441-7420• Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />