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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY <br /> MEMORANDUM <br /> TO: Housing and Redevelopment Authority <br /> r FROM: Paul T. Steinman, Director of Economic <br /> Development <br /> DATE: December 17, 1999 <br /> SUBJECT: Agenda Memo for December 20, 1999, <br /> HRA Meeting <br /> 5. King and Main Site Project Proposals <br /> At the last HRA meeting several proposals were presented for the <br /> development of the King and Main site in downtown Elk River. The <br /> following is a summary of each of these three proposals: <br /> Land <br /> Construction Building Investment Potential Price Taxable <br /> Start Date Size Property? Tenants? Offered? Entity? <br /> Municipal Spring 2002 or 2-story, Partial Municipal Appraised Partial <br /> Utilities 2003 16-20,000 sf Utilities Value <br /> and <br /> KMR Spring 2000 3-story, Yes ? $0 Yes <br /> Partners 21,000 sf <br /> Track of Spring 2000 2-story, Yes Track of the ? Yes <br /> the Wolf 20,000 sf Wolf and? <br /> It should be noted that an additional prospect has been in contact with <br /> staff since the last HRA meeting. John Weicht and Associates will be <br /> present at the.HRA meeting on Monday evening to propose a project for <br /> consideration by the HRA. <br /> Staff has devised a system to rate the three proposals that are currently <br /> on the table in order to help identify the top prospect for the site. This <br /> analysis follows the table above and simply rates each of the items listed <br /> in the columns on a scale from 1 to 10, with 10 being the best. The <br /> analysis is as follows: <br /> • <br /> 13065 Orono Parkway• P.O Box 490• Elk River, MN 55330-1743 • (612) 441-7420 • Fax: (612) 441-7425 <br /> Equal Opportunity Housing and Equal Opportunity Employment <br />