CR 88-125 Revision CBD Redevelopment Plan
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June 15, 1988
Council Report: 88-125
REVISION TO can REDEVELOPMENT PLAN
AND TAX INCREMENT FINfu~CING PLAN
Pro~osed Action.
Staff recomm~nds adoption of the following motion~ Move to recommend
that the city Cannotl set hearinq date for Auqust 2. 1988. 7:30 ~~
to consider Revision Number 5 of the caD Redevelopment Plan and Tax
Increment Financinq Plan.
Approval of this action will allow the process to continue to
facilitate possible acquisition of 9 - 9th Avenue South.
OVerview.
See BRA Report 88-17 - attached
Primarv Issues to ConsiderL
Based upon the recommended action, the City Council has the following'
issues to consdier:
o Does the City have any obligation in setting the.hearing
date?
o What is the consequence of setting the hearing?
The City Council is under no obligation to take any specific action
related to this item. The recommended action is to set a hearing.
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Jam,s D. Kerrigan
Planning & Economic
Development Director
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June 1.5, 1988
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HRA Report: 88-17
PURCHASE 9 - 9TH AVENUE SOUTH
?roposed Action.
Staff recoID~ends adoption of the following motion: Authori.ze staff and
city Attorney to undertake preliminary negotiations for purchase of 9-
9th Avenue South and request Hopkins city Council to set publli
hearinq on Auqust 2, 1988 at 7:30 p.m.# to capsidar revision of caD
Tax Increment Plan to allow for acquisition of this structure.
Overview;
Over the last few years the Authority has discussed the purchase of 9- ,.
9th Avenue South. The building is in a deteriorated substandard
condition which presents a blighting influence on the downtown.
At the June 7, 1988 HRA meeting, the staff was directed to research
the cost and process of acquiring this structure.
Primary
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Issues to Consider.
What will be the public cost involved in pur~hasing 9 _
9th Avenue South?
What process and time schedule is involved in acquiring
this property?
What would be the re-use of the property?
What action would the staff/City Attorney be authorized
to undertake as part of the preliminary negotiations?
Supporting Informati~
o Site Map
o Parking Plan
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Jam~s D. Kerriga
Planning & Econo ic
Development Director
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HRA Report: 88-17
Page 2
Analysis.
Based on the proposal recommended, the HRA Board has the following
issues to consider.
What will be the public costs involved in purchasing 9 - 9th Avenue
South?
The followinq costs are based upon an approval of the property and a
review by the Authorityfs relooation consultant.
- Purchase price
- Relocation (shown as maximum)
. 9th Avenue Tap
. Riley Liquor
. Residential Tenant
- Purchase Lease Hold Improvements
- Demolition
- Relocation Consultant
- Surface for Parkinq
Total Estimate
$ 125,000
10,000
10,000
4,500
3,000
8,000
3,000
20.000
$ 188,000
What process and time schedule is involved in acquiring the
property?
Jyne 2l.
BRA approve motion directinq staff and City Attorney to
undertake preliminary negotiations for purchase of 9 - 9th
Avenue South and request city to set public hearing on
August 2, 1988 at 7:30 p.m. to consider amendment of CBO Tax
Increment Plan to allow for acquisition.
City Council approves motion to schedule public hearing for
August 2, 1988.
June 22 - August 1
Staff and city Attorney undertake negotiations with owner
for purchase of building.
Undertake amendment of Tax Increment Plan with 30 day
notification to County and School District.
June 28
Zoning and Planning commission takes action on purchase
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lIRA Report: 88~17
Page 3
Aucrust 2
HRA approves revision of Tax Increment Plan to purchase
building contingent upon city Council approval.
city Council holds public hearing on purchase of building
and authorizes staff to complete acquisition.
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Closing of purchase
90 day vacation notice to tenant
November 20
Resurfacing if weather permits
What would be the re-use of the property?
The short te%m re-use would be for parking. The long term plan would
be redevelopment of the site.
What action would the staff/City Attorney be authorized to
undertake as part of the preliminary neqotiations prior to the
public hearing?
Unless otherwise directed, the staff/City Attorney would attempt to
immediately negotiate an acceptable option or purchase agreement which
would be contingent upon Council/BRA authorizing the tax increment
amendment and approval of the purchase agreement on August 2..
~lternatives.
The BRA Board has the following alternatives to consider:
1. Approve the motion as recommended by staff. This action
will allow the staff to begin the process necessary to
facilitate acquisition of 9 - 9th Avenue South.
2. Deny the motion as recommended by staff. This action
would terminate any further action by the staff to
acquire this building.
3. Continue for further information.
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