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C. 0 <br /> r--(,/ A( <br /> c � <br /> ityof <br /> lkRover MEMORANDUM <br /> TO: Economic Developmen • uthority <br /> FROM: Pat Klaers, City Ad ' 14 ator <br /> DATE: May 8, 2000 <br /> SUBJECT: Downtown EDA Site <br /> Commisioner Thompson has requested this item be placed on the agenda for <br /> discussion. Additionally, Commissioner Motin and I discussed the status of <br /> this site when the King and Main development proposals were being <br /> considered by the HRA. <br /> Research shows that the EDA has title to this property and that it was <br /> purchased in 1991 for $109,450. The actual total price was more when <br /> • considering legal, administrative, closing, etc. costs. The EDA purchased this <br /> property using TIF funds and, consequently, if this site is sold the revenue <br /> would be turned over to the county and redistributed to the city, county, and <br /> school taxing jurisdictions. However, the EDA can always "give away" the site <br /> for a development project if it so chooses. <br /> In 1994, in response to EDA direction, the Park and Recreation Commission <br /> and Street/Park Superintendent Phil Hals proposed to fill in the site and to <br /> create green space downtown. After the green space was created, the EDA, at <br /> its October 10, 1994, meeting, considered transferring the property to the city <br /> for a public park, but ultimately decided to retain title in case a development <br /> proposal came forward that was "too good to pass up." The EDA has not <br /> actively marketed this site and, consistence with the 1994 Park and Recreation <br /> Commission proposal, the area is being used by the public as downtown green <br /> space and as an access to the river. <br /> It seems that use of this site for a commercial project is less important to the <br /> overall viability of downtown than its current use. All of the central business <br /> district studies, going back to the 1970 report through the 1986 Governor's <br /> design team analysis up to the 1996 riverwalk study, have talked about <br /> opening up the central business district to the river. This has been <br /> • accomplished and, in the future, more improvements are envisioned to make <br /> this green space more pedestrian friendly. <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD &Phone: (612)441-7420 • Fax: (612)441-7425 <br />