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ITEhI # 5. <br />t-uver <br />MEMORANDUM <br />TO: Housing & Redevelopment Authority <br />FROM: Catherine Mehelich, Director of Economic Developmen~,~~~ <br />DATE: April 4, 2005 <br />SUBJECT: Downtown Revitalization Project Update <br />Attachments <br />• King Avenue Parking Lot Taskforce, March 3, 2005 draft meeting minutes <br />• MetroPlains Project Schedule <br />Background <br />The City entered into a development agreement with MetroPlains Development at the end of last <br />year. Since that time staff has been working closely with MetroPlains to make progress on a number <br />of activities leading up to the anticipated summer project construction outlined in the attachment. <br />Current Activities <br />King Avenue Parking Lot Improvement <br />Assistant Director of Economic Development, Heidi Steinmetz is working closely with the King <br />Ave Parking Lot Taskforce and their monthly meetings to provide input on the parking lot design <br />and enforcement options. Draft meeting minutes from the March taskforce meeting is attached for <br />the HRA's review. Staff is discussing signage during the construction of the parking lot and other <br />forms of communication for businesses and customers. The anticipated schedule remains as <br />follows: <br />• February Council approves quote for Utilities Building asbestos removal <br />• April Council considers quotes for building removal and authorize bidding for <br />parking lot improvements <br />• April/May Building removal and Council considers bid fox parking lot improvements <br />• May/June Commence parking lot construction <br />• June/July Completion of parking lot construction <br />Bluff Block Properties <br />MetroPlains announced that a purchase agreement with US Bank was fully executed at the end of <br />February. US Bank anticipates vacating its downtown location no later than October 1S`, depending <br />