6. HRSR 11-06-2006 - Laserfiche WebLink

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ITEM # 6. ~~~ ~- ver MEMORANDUM TO: Housing and Redevelopment Authority FROM: Scott Clark, Community Development Director DATE: November I, 2006 SUBJECT: Redevelopment Plan for Downtown Elk River Redevelopment Project Pursuant to Minnesota State Statute Section 469.001-047 (Housing and Redevelopment Authority Act), the City's Housing and Redevelopment Authority must adopt a redevelopment plan prior to any action that would result inland acquisition or other types of traditional redevelopment objectives. Attached is the "Redevelopment Plan for Downtown Elk River Redevelopment Project, dated November 1, 2006" and consists of the minimum sections that are required for review pursuant to the aforementioned statutes. This redevelopment plan includes three phases: • Phase I -The Bluffs of Elk River and Jackson Place • Phase II -The Main Street Mall, currently being reviewed by the Housing and Redevelopment Authority for acquisition • Phase III is the residual of the downtown project. The boundaries for the redevelopment area are coterminous with those that are found in the Maxfield Market Study that was completed in April, 2001. The redevelopment plan as written is intended to be a placeholder that meets the minimum State standards. It is anticipated that the plan will be replaced when a more comprehensive redevelopment plan for the subject area is completed by the recently approved City task force. The Housing and Redevelopment Authority, in approving this redevelopment finding, is making the following declarations: 1. The land in the redevelopment area would not be made available for redevelopment without the financial aid sought.