Meeting Date: May 22, 2023
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Title
Economic Development Project Updates
Body
Action Requested:
No action requested. The EDA will receive an update on existing projects related to economic development.
Summary Report:
5th & Water Redevelopment Project (i.e. Liquor Store & Riverfront Project)
City staff has been diligently working with development partners from the Lander Group and the City's public realm consultants, Bob Close and Bruce Jacobson.
Over the last few months, the Lander Group has assisted in shepherding development efforts, suggesting public space improvements, evaluating mobility/parking needs, and site acquisition negotiations. The expertise offered to City staff has positioned this redevelopment project on a very positive trajectory. However, with negotiations between private landowners and the development team ongoing, staff will refrain from detailing specific terms related to site acquisition.
Economic Development staff applied for the redevelopment grant offered by the Department of Employment and Economic Development (DEED) to offset site acquisition costs and pre-development costs (i.e. environmental remediation, surveys, and geotechnical studies). However, the City was not granted these funds. Staff will make a second attempt in August 2023 for additional redevelopment grant funds.
Main Street Program Update
Staff are working with SMIF on the DEED Main Street Revitalization grant. The application closed on May 1, 2023. City Staff will review applications and provide SMIF with awarded applicants by the end of the month.
Community Development Department Update
An eight-person subcommittee made up of staff and elected and appointed officials, including Planning Commission Vice-chair Tracy Davis-Heisler and Planning Commissioner Brian Nowak, interviewed four of the eight teams that submitted qualifications to prepare a 2045-ho...
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