2.1. HRSR 05-22-2018 - Laserfiche WebLink

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��i Eof lk — - Request for Action River To Item Number Housing and Redevelopment Authority 2.1 Agenda Section Meeting Date Prepared by Work Session May 22, 2018 Amanda Othoudt,EDD Item Description Reviewed by Proposed Downtown Redevelopment Project Cal Portner, City Administrator Reviewed by Action Requested Discuss the proposed downtown redevelopment project located at the intersections of TH 10,Jackson Ave.,Main and Lowell Ave. Background/Discussion With ISD #728 moving their district offices and vacating their former location downtown, an opportunity has arisen which could define the future of downtown Elk River. The former office building has been on the market for sale. This property and surrounding properties, many of which are municipality-owned, are currently tax exempt. From a redevelopment perspective, this could be a golden opportunity to guide a large-scale project that would enhance the life and vitality of downtown Elk River by creating a destination downtown and significantly increasing the city tax base. Because there are no property taxes collected from the exempt properties, an improvement would have significant tax increment available to offset potential redevelopment needs such as demolition,utility relocation, and the addition of parking ramps. To begin a redevelopment project,a redevelopment plan is required for the area and a boundary must be established. To determine the boundary and qualification for a redevelopment project,it is necessary to inspect the properties within the proposed development district where over half must be deemed substandard. Substandard does not mean uninhabitable or necessarily unsafe. At the April 2, 2018, meeting, the HRA expressed consensus to proceed with a survey by LHB to inspect the downtown properties and bring the information to the HRA and Council to determine the next steps in this redevelopment process. LHB provided a proposal to inspect the ISD #728 and Elk River Meats properties and both property owners have been contacted and are supportive of the project and inspection. At their May 7, 2018, meeting,the HRA reviewed the LHB proposal and the motion to accept failed for a lack of a second. Chair Toth requested a special workshop meeting to discuss the project further. 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