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 bu...
Click here for full text