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Item # 5 <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 22, 2001 <br /> SUBJECT: Downtown Redevelopment Project <br /> Attachments <br /> • Map of Downtown Strategic Plan Study Area <br /> • Map of Core CBD <br /> • Update on Preparation of the Downtown Strategic Plan <br /> The market analysis by Maxfield Research identified three distinct areas in the downtown <br /> study, based on current land use and physical barriers. These three areas, as represented on <br /> the attached map,will be the basis for the downtown strategic plan: <br /> • Core Central Business District (CBD) —south of railroad, east of KingAve. <br /> • Northern Area -north of railroad <br /> • Western Transition Area -south of railroad, west of King Ave. <br /> The strategic plan will focus on the development potential for each area and strategies to <br /> enable these areas to compliment one another. <br /> Out of the three areas the priority redevelopment area identified by the HRA is the Core <br /> CBD and its riverfront. This area presents the greatest opportunity and redevelopment <br /> potential. A revitalization of the Core CBD may also lead to additional investment in <br /> redeveloping the adjacent Western Transition area and Northern area. <br /> A draft of the strategic plan will be presented at the November meeting. <br /> Issue <br /> It was the consensus of the HRA at the September meeting to have Ehlers &Associates <br /> assist staff in implementing a redevelopment/revitalization project for the Core CBD area. <br /> A similar process for addressing the other two areas will be outlined in the strategic plan,but <br /> not at the same priority level. <br />