7.3. HRA AGENDA 05-07-2018 - Laserfiche WebLink

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��i Eof lk — - Request for Action River To Item Number Housing and Redevelopment Authority 7.3 Agenda Section Meeting Date Prepared by General Business May 7, 2018 Amanda Othoudt,EDD Item Description Reviewed by Downtown TH 10 and Lowell Ave TIF Analysis Cal Portner, City Administrator Proposal Reviewed by Action Requested Approve,by motion,the proposal by LHB,Inc. to perform a Redevelopment TIF analysis. Background/Discussion The City of Elk River is exploring the redevelopment of several parcels in downtown Elk River near the ISD #728 Building and Elk River Meats. As part of the project,the city is pursuing a redevelopment plan for the area. To determine the boundary of this redevelopment plan,it is necessary to inspect each of the properties within the proposed development district. At the April 2, 2018, meeting,it was the consensus of the HRA to proceed with allowing LHB to survey and inspect the properties in the downtown area and bring that information back to the HRA and City Council to determine the next steps in this redevelopment process. LHB provided the city with a proposal to perform an inspection of the former ISD #728 and Elk River Meats properties within the proposed district. Both property owners have been contacted and are supportive of the project and have consented to the inspection. LHB will inspect both the interior and exterior of the building and evaluate the coverage of the district. In order for the city to consider this area as a redevelopment TIF district, 70% of the area of the district must be occupied by buildings, streets,utilities, or other similar structures, and more than 50% of the buildings must be structurally substandard. A building is structurally substandard,if it is not in compliance with the building code for new buildings or could be brought into compliance for more than 15% of the cost of building a new building of the same type. In the event that one of the buildings would not qualify within the proposed redevelopment district under the substandard test,it may be necessary to include two additional buildings into the district. The buildings in consideration are the properties along the west side of Jackson Ave. LHB will be in the area in the next few weeks to perform inspections of several properties within the proposed development district. The Elk River Vision A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r service, and community engagement that encourages and inspires prosperity ,g /` UR