Economic Development Authority Meeting Date: June 24, 2024
To: Members of the Economic Development Authority
From: Ben Martig, City Administrator
Jake Reilly, Community Development Director
Nate Carlson, Economic Development Coordinator
Title
Update and Discussion of Downtown Redevelopment Projects - EDA Advisory Role.
Body
Action Requested:
The Northfield EDA will receive an update on ongoing downtown redevelopment projects as well as be informed of their advisory role delegated by the City Council.
Summary Report:
The City Council delegated advisory responsibilities to the EDA through CC Resolution 2024-044. (Attachment 1). Economic Development staff will provide a brief update to the EDA on the downtown redevelopment projects listed below. Staff will recap the EDA’s responsibilities and timeline.
Northfield News Building:
The City Council approved the sale of the Northfield News Building to Loon Liquors on April 23, 2024. Loon Liquors and City/EDA Staff continue to work on due diligence items. Closing is tentatively scheduled for this fall 2024.
5th and Water:
Staff finds that the economic conditions and complexity associated with stated outcomes for development on this site are not ideal and recommend focusing efforts elsewhere in the short term.
Post Office
City staff engaged a qualified historic building reuse consulting firm, New History, to research pathways to possible acquisition of the National Register of Historic Places-designated Post Office on Bridge Square. The result of that work consists of a Road Map (Attachment 2), Executive Summary (Attachment 3), and supporting presentation material (Attachment 4).
Based on the provided information, staff requests EDA members consider what, if any, next steps should be taken. Additional information will be provided at the meeting.
Ameriprise building:
Members of the public have expressed interest in a temporary lease of the 411 Water Street property (formerly known as the Ameriprise building). The first-floor commercial space is useable. However, minor repairs due to environmental testing, are needed in order to use the first-floor commercial space. Facilities staff has estimated the cost at roughly $600.00 and 80 hours of facility staff time to prepare the space for use.
The apartments above the commercial space are not inhabitable and would not be a component of any temporary use.
More details will be discussed at the meeting.
5th and Washington:
Staff will provide an update to the EDA on the 5th and Washington redevelopment plans. Since parting ways with the developer group originally associated with the redevelopment of the municipal liquor store, staff has been working with the architecture firm advising the liquor store staff, landscape architecture/community engagement consultant Bruce Jacobson, and internal stakeholders from the housing and planning groups within Community development to put together concept plans for a proposed development. Staff has planned a work session with the consultant team to determine next steps at the July 22 regular meeting of the EDA.
Alternative Options:
N/A
Financial Impacts:
Financial impacts will be discussed as the projects proceed.
Tentative Timelines:
Timelines will be discussed as the projects proceed.