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Request for Action <br />To <br />Item Number <br />Mayor and City Council <br />4.7 <br />Agenda Section <br />Meeting Date <br />Prepared by <br />Consent <br />July 6, 2020 <br />Amanda Othoudt, EDD <br />Item Description <br />Reviewed by <br />Main and Gates Redevelopment Findings of Fact <br />Cal Portner, City Administrator <br />Reviewed by <br />Action Requested <br />Adopt, by motion, a resolution finding parcels are occupied by structurally substandard buildings. <br />Background/Discussion <br />At their October 7, 2019, meetings, the HRA and the City Council adopted resolutions designating 326 <br />Gates Ave NW, 414, 426 and 430 Main Street NW as structurally substandard prior to being demolished <br />or removed in anticipation of creating a future redevelopment or renewal and renovation tax increment <br />financing district based on the TIF Analysis Findings dated September 6, 2019, completed by LHB, Inc. <br />The HRA engaged LHB, Inc. to conduct an inspection on two additional properties acquired by the HRA <br />to determine if the proposed district meets the requirements. On June 1, 2020, LHB, Inc. found 406 Main <br />Street NW to be structurally substandard under the definition set forth in the Minnesota Statutes, <br />Sections 469.174 to 469.1794. <br />A resolution must be adopted by the HRA and the city designating the buildings structurally substandard <br />before the creation of the TIF District. <br />The HRA will have three years from the approval of the resolution to certify the TIF district. Activity <br />must occur before or within five years after certification of the district. <br />Financial Impact <br />N/A <br />Attachments <br />HRA Staff Report (July 6, 2020) <br />Resolution <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional,` 01 e <br />service, and community engagement that encourages and inspires pi ospei l_ y INAWRE1 <br />