7.0. HRSR 06-27-2001 - Laserfiche WebLink

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�� Item 1 7 tik River MEMORANDUM TO: Housing & Redevelopment Authority FROM: Catherine Mehelich, Director of Economic Developmen DATE: June 27, 2001 SUBJECT: Downtown Riverfront Redevelopment Concept Issue Private developers interested in a downtown riverfront redevelopment were invited to present their preliminary development concept to the HRA. Best&Hempel's development team has been asked to make a 20-minute presentation of their development concept for the HRA's preliminary discussion of downtown redevelopment possibilities and the HRA's role in such possibilities. It is anticipated that a few riverfront property owners may be in attendance at the presentation and meeting. • Attachments • Correspondence to Developer from Staff, dated May 18, 2001 re: Elk River Downtown Redevelopment • Map of Downtown Riverfront Area • River Village Redevelopment Concept Plan by Best&Hempel development team Overview At its April 23, 2001 meeting, the Elk River HRA considered information on the sale of the ECM Publishers, Inc. property downtown. It was the consensus of the HRA to assist in financing or coordinating desired redevelopment proposals brought forth from the private sector, as opposed to purchasing the site. In May, staff invited two developers to submit their preliminary development concepts for the HRA's discussion of downtown redevelopment possibilities. In addition,property owners along the downtown riverfront were notified of the redevelopment interest,project status and possible HRA role. The developers who were invited to submit development concepts were: • Best&Hempel and Kraus-Anderson development team • Dynamics Design and Cascade Land Company development team • Best&Hempel's attached preliminary development concept includes redevelopment of the downtown riverfront area from Nadeau's to Mikol's Studio. The project includes a mixed- use of housing,retail, office and restaurant spaces. In addition, the project includes utilizing