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�1f <br /> C ty or <br /> Elk = Request for Action <br /> River <br /> To Item Number <br /> Housing and Redevelopment Authority 4.5 <br /> Agenda Section Meeting Date Prepared by <br /> Consent May 4, 2020 Amanda Othoudt,ED Director <br /> Item Description Reviewed by <br /> Second Amendment to the Preliminary Cal Portner, City Administrator <br /> Development Agreement with Modern Reviewed by <br /> Construction of Minnesota,Inc. <br /> Action Requested <br /> Approve,by motion, a second amendment to the Preliminary Development Agreement with Modern <br /> Construction of Minnesota,Inc. <br /> Background/Discussion <br /> At their October 4, 2019, meeting,the HRA and the Council entered into a preliminary development <br /> agreement with Modern Construction. The agreement allows the developer to explore the idea of a multi- <br /> family, mixed-use development concept in downtown Elk River. The HRA is listed as a party to the <br /> agreement, since the HRA owns some of the property. <br /> Jesse Hartung is requesting an extension of his agreement with the city to allow him time to further <br /> develop his plans for downtown redevelopment. A joint meeting with the HRA and the Council will be <br /> scheduled for September 8, 2020. <br /> Financial Impact <br /> N/A <br /> Attachments <br /> ■ Executed Preliminary Development Agreement and First Amendment <br /> ■ Second Amendment to Preliminary Development Agreement <br /> The Elk River Vision <br /> A Y�elcoming community nvith revolutionary and spirited resourcefulness, exceptional P U W E H E o s r <br /> service, and community engagement that encourages and inspires prosperity ,g /` UR <br />