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Economic Development Related Programs � ActivityiProject: Strategic Plan For Economic Development Goal Maintain an updated Plan to guide future economic development efforts within the City. Status/Issues: . o Status report on progress made toward achieving goals in Plan is attached. It appears substantial steps have been taken toward completing action steps within the current plan. o Currently working with the Strategic Planning Review Committee to review and update the Strategic Plan. o Will potentially be going through a survey process to gather additional information which may help to provide direction to the Review Committee. o Membership on Task Force is: � - Mike Miller, NAB - Angie Roesner, NAB - Nelson Berg, HBCA - Mark Senn, HBCA - John Hutchison, Planning & Zoning - Dan Johnson, Planning & Zoning - Paul Bengsten, School District - Fran Hesch, City Council - Chuck Redepenning, City Council Attachment Status Report Notes/Comments: � JK11304A BUSINESS RETENTION/RECRUITMENT � GOAL #1 Foster the stability and growth of existing businesses. An important element in job growth is business retention. A much greater percentage of employment base comes from within existing business, than from recruitment of outside business. With this in mind, the City must focus a great amount of attention toward fostering the growth of the existing businesses in the community. Suggested action steps 1. Encourage projects which will help to provide the full range of support services to employees and local businesses. In process - Information has been obtained through HBCA surveye 2. Undertake a"business retention and expansion" survey process to identify needs of existing businesses. � Completed - Data available for review. 3. Work with SUPERVALU warehouse to encourage and accommodate their expansion needs. Continuing - SUPERVALU not interested in warehouse expansion at this time. 4. Take an inventory of environmentally contaminated sites and identify future plans for redevelopment/clean-up of these sites. In process - Achieved special legislation to help with redevelopment of Tech Center property. Currently working with owner on potential redevelopment. 5. As much as is determined appropriate, expand the City's existing programs, such as the Commercial Rehabilitation Loan Program and Sign Grant Program, to include other commercial/industrial areas. Limited progress � Page 1 6. Work with Hennepin County on redevelopment of Hennepin County Public Works site. � In process - County is expected to relocate in 1997. City negotiating Purchase Option Agreement. 7. Insure that existing training opportunities are easily accessible for employees of local businesses through marketing and development of these programs. Facilitate partnerships between local businesses and institutions which provide these training opportunities. Limited progress. : 8. Work with local banks, Department of Trade & Economic Development, and SBA to increase awareness of existing programs which support business expansion. Completed/ln Process - Staff has met with local banking institutions. Staff has not met with DTED & SBA. 9. Establish landscaping programs for all commercial/industrial areas of the City. In process - Preliminary work has been completed. � i I I � i i i i � � Page 2 - , - _ _ ,... -, - - -- � GOAL #2 Induce targeted business and industry to locate in Hopkins. The recruitment of outside business and industry has to be an integral part of every city's � business retention and recruitment efforts. In a city such as Hopkins, where only a small percentage of land is available for development, specific types of business and industry need to be targeted to insure maximum positive impact to the community. For identified redevelopment areas, the types of business/industry which are targeted are determined through the City's land use policies and economic development goals. Suggested action steps: 1. Encourage projects which help to provide the full range of support services to employees and local businesses. In process - Information has been obtained through HBCA _ survey. 2. Expand the "leasing guide" program, which provides Realtors and prospective retailers a list of available properties along Mainstreet, to include commercial/industrial properties in other sections of the City. � Limited progress. 3. Provide incentives to create quality jobs for skilled/technical employees. In process/Completed - Thermotech project. On-going 4. Facilitate a project involving a large scale general merchandise store on an appropriate site which is deemed compatible with the existing residential and business community. Limited progress. 5. Insure that responsible parties maintain an understanding of changes in the metropolitan, national, and world markets, and take advantage of opportunities presented. On-going - Training. 6. Recruit businesses which have a relationship to the existing grocery industry. • Limited progress. Page 3 NEIGHBORHOODS �� � GOAL #1 Assure strong and well maintained neighborhoods in order to foster an overall ; positive economic development climate in Hopkins ; � The stability and growth of neighborhoods is key to the success of any economic development efforts of a city. Neighborhoods provide employees for existing and '� potential businesses, a market for the retail sector, and create an image of the ; community which is a reflection upon the local businesses. Neighborhoods are also a j reflection upon a community's social and economic standards of living, and overall � quatity of life, which in turn impacts economic growth. Suggested action steps: 1. Examine properties which are currently zoned and guided for multi-family . housing. i In process - Z& P in process of conducting hearings on proposed changes to Zoning Ordinance and Comprehensive Plan. ,;;:;,, . 2. Examine appropriateness of" zoning standards as related to rehabilitation/improvement of existing non-conforming structures/uses. Limited progress. 3. Facilitate development which will help to meet "special housing needs," i.e., senior, handicapped, 3-bedroom family, and luxury housing needs, and � establish a high priority to maintain owner occupied housing. In process - Pines redevelopment - potential owner occupied ' townhouse project. Completed - Handicap Housing Project (Sonoma) 4. Examine and improve, as necessary, present guidelines for buffer areas between new commercial development projects and residential properties. In process - Zoning changes are being formulated. 5. Maintain and improve public infrastructure in neighborhoods. On-going - Continued improvements are included in Capital � Improvement Plan, i.e. neighborhood streets and sidewalk repair program. Page 4 - -- . , _ , ,.::...., :_.. . _ - -- -- , r ; -- - - + 6. Examine and improve housing maintenance codes and aggressively enforce these codes. In process - New Housing Maintenance Code being prepared and enforcement efforts have increased substantially. 7. Monitor effectiveness of "Truth in Housing" ordinance to insure it is helping to maintain and upgrade residential housing stock. . On-going. 8. Continue/expand existing housing programs pursuant to the City of Hopkins Housing Plan. On-going - e.g., Westbrooke Special Legislation and Aquisition/Demolition/Replacement Program. � � Paqe 5 GOAL #2 � Foster communication and cooperation between the City, neighborhoods, schools, and the business community. The City will be undertaking a renewed effort as part of this Strategic Plan to further its , communication efforts among and between neighborhood residents and the business � . . . . community. It is imperative to the success of economic development and related activities, that a forum be provided to allow for the free flow of information between these groups. This information will result in a greater level of cooperation between � neighborhood residents, schools, the business community, and the City. This � cooperation is a vital link to achieving positive economic development results in our ; community. � Suggested action steps 1. Develop a neighborhood outreach program and establish a Neighborhood Advisory Board (NAB) made up of representatives from every neighborhood association. Completed/In process. ����, 2. Closely examine impacts on neighborhoods when considering changes in city services which affect residential areas, i.e., snow removal, garbage service, park maintenance, code enforcement, etc. � On-going: � 3. Improve and maintain communication between City and School District to develop a more cooperative effort toward achieving the goals of both public entities. Completed/In process, i.e. Schools & Community In Partnership (SCIP) 4. Coordinate active distribution of "new resident packets" with the school � system, Realtors and local apartment complex management. In process - Currently working with Property Managers Coalition to prepare new resident packets for apartment dwellers. Limited progress on distribution to Realtors and School system. .,�; Page 6 - - . .... ...:... . . .. - _ -- -_ .,:- -- - � COUNTY ROAD 3 GOAL #1 Improve vehicular and pedestrian movement along County Road 3 and enhance the link between County Road 3 and Mainstreet. County Road 3 is one of several major corridors which bisect the City of Hopkins. Other corridors include Highway 169, Highway 7, Shady Oak Road and Blake Road. County Road 3 is probably the most visible corridor, and is undeniably the most in need of repair and upgrading. Although other corridors of the City also may need improvements, County Road 3 was determined to be the highest priority at this time. County Rd. 3 does not currently accommodate ease of vehicular and pedestrian movement. The location of the railroad tracks, minimal proper roadway facilities, worn infrastructure, and lack of sidewalk/bikeways make this corridor non user-friendly. Additionally, there is no real visual link between County Road 3 and Mainstreet. This results in a separation of these two commercial areas rather than a union, which would allow both corridors to benefit from each other. � Suggested action steps: 1. Work with Hennepin County to implement a County Rd. 3 Improvement Project as part of their 5 year Capital Improvement Plan. Begin planning � for a major improvement project to this corridor. Take into consideration the possibility and needs associated with light rail transit. In process -1st phase of project to begin in 1996. 2. Undertake analysis of corridors to determine the potential for an improvement project which will connect County Road 3 and Mainstreet. In process - County Road 3 Corridor Study is analyzing this issue. 3. Develop a program to complete a pedestrian walkway and bikeway system. Incorporate with County plans to upgrade roadway and proposed County Trail System for HCRRA property. In process/Completed - County Road 3 corridor study defines pedestrian improvements. Hennepin Parks has made trail � improvements along HCRRA property. City has adopted a pedestrian and bike plan. Page 7 4. Undertake study of possibly reusing the Railroad Depot located at T.H. 169 and County Road 3. Also, analyze ability to incorporate Central Park with ''"'` County Road 3 improvements. In process - City exploring possibility of purchasing depot from Hennepin County. Issues regarding Central Park are being discussed as part of the County Road 3 Corridor Study. ; i j ; � I I i ' � ��. � ; ��; Page 8 , -, _ - - -- � -:- __ _ � GOAL #2 Foster the development/redevelopment of property along County Road 3, including consideration for a business and/or major retail uses. A large number of commercial/industrial uses are located along this corridor, some of which are in a less than desirable condition. Redevelopment of specific areas along the County Road 3 corridor could have a significant impact on the corridor and entire community. In addition, the development of vacant parcels, such as the R.L. Johnson property along 11 th Avenue, will assist in expanding the City's tax base and create jobs. Suggested action steps 1. Determine the appropriateness of locating a business park and/or major retail involving large scale single uses on the R.L. Johnson property and its impact on the community. Limited progress. 2. Work with developers concerning the undertaking of a project on the R.L. � Johnson property, as determined appropriate, including a Request for Proposals, if necessary. Tie this to incentives and possibly zoning � flexibility. Include property owner in process. On-going/ln process - Worked with several developers on potential projects for this site. Owner is currently working on project with industrial user. 3. Utilize financial incentive programs for the County Road 3 corridor to encourage private reinvestment and location of new businesses along the corridor. Incorporate a landscaping and signage improvement assistance program. On-going/Completed - Hopkins Auto Body & working with Tech Center owners on redevelopment. Limited progress - Landscaping & signage programs await beginning of County Road 3 Improvement project. 4. Communicate with existing business/property owners regarding: o Potential improvement project(s) o Development/redevelopment activities i On-going/Completed - Continued communication as integral part of County Road 3 Corridor Study and upcoming Improvement Project. Paqe 9 GOAL #3 ;,;.: Improve/enhance function and appearance of existing commercial, industrial, and public/semi-public land uses, including visual improvements such as landscaping, screening, and tree planting. County Road 3 is one of Hopkins most visible corridors, and it provides a perception of the economic vitality and quality of life in the community. Due to the significance which this corridor represents, County Road 3 must be immediately focused upon for improvements both visually and functionally, through the development of a comprehensive approach to upgrading this roadway and surrounding land uses. Suggested action steps: i 1. Reconvene County Road 3 Task Force insuring that entire corridor is ' consistently represented. � Compteted. ' 2. Undertake communication efforts with representatives from Hennepin County, HCRRA and City, to make the necessary improvements as outlined by the Strategic Plan, County Road 3 Task Force I recommendations, Benshoof traffic study, and Land Use study. �,;� CompletedlOn-going. 3. Review and amend, as necessary, the Comprehensive Plan and Zoning Ordinance to insure consistency with Strategic Plan, and County Road 3 Task Force recommendations. On-going - County Road 3 Task Force is aware of Strategic Plan recommendations. Limited progress - Comprehensive Plan � Zoning Ordinance have not beeri amended pending �nal adoption of County Road ' 3 Corridor Study. ' � 4. Undertake land use study for County Road 3 between 5th Avenue and Blake Road in cooperation with upgrading of the roadway by Hennepin County. � Completed - As part of the County Road 3 Corridor study. 5. Undertake steps to implement landscaping improvements on public � property between Highway 169 & 11th Avenue. E �� In process - County Road 3 Corridor study incorporates this action step. Page 10 , -- - , .,� , , .. -- � - _ � MAINSTREET GOAL #1 Provide an atmosphere which will foster the retention of existing business on or near Mainstreet and attract new businesses. Mainstreet, bordered by Washington Avenue on the east and Shady Oak Road on the west, needs to be preserved as a major servicelretail sector of Hopkins. The City currently has programs developed to aid in the retention and attraction of businesses along Mainstreet.. The City's Commercial Rehabilitation Loan Program and Sign Grant Program act as incentives to upgrade existing buildings/businesses along Mainstreet. The City and Hopkins Business and Civic Association have developed programs to help attract retail businesses to Mainstreet. o New Business Incentive Program o Realtors Incentive Program o Leasing Guide � The City has recently made a large investment into the upgrading and repair of Mainstreet. The City completed the final phase of a$3.7 million dollar Mainstreet Improvement Project in the Fall of 1992. The Improvement Project repaired infrastructure and provided a variety of enhancements to Mainstreet including brick pavers, antique lighting, additional parking, benches, trash receptacles and a plaza and clock tower in the heart of the Central Business District. Suggested action steps: 1. Encourage destination type businesses with an emphasis on the arts, entertainment, recreation, and family oriented uses, to locate on or near Mainstreet. In process/On-going - e.g., Theatre/Restaurant proposal � Arts Facility. 2. Explore new incentive programs to attract/retain businesses on or near Mainstreet. Completed - Worked with State Legislature on obtaining funds for Arts Facility. Developed Facade Grant Program and modified Commercial Rehabilitation Loan Program. Developed i creative financing package for Theatre/Restaurant project. On-going - Other potential incentive programs being discussed. Page 11 3. Improve and regularly assess existing programs to attract/retain businesses, i.e., the Commercial Rehabilitation and Sign Grant Program, �� New Business Incentive Program, Realtors Incentive Program and the Leasing Guide. On-going/Completed - Commercial Rehabilitation Program modifications and addition of a Facade Grant Program. 4. Continue to promote Mainstreet Hopkins through trade show attendance, festivals, and special events such as Farmers Market, Farades, Heritage Days, the Raspberry Festival and other promotional opportunities. i On-going. � 5. Maintain an inventory of vacant buildings on or near Mainstreet and i actively distribute to Realtors and potential lessors. � Completed/On-going. 6. Encourage businesses on or near Mainstreet to adopt uniform hours and a more consistent management style in order to provide a reliable level of service to patrons of the Mainstreet area. ,� Limited progress. � � � � Page 12 ', -- � _ _ - - --- -- � . .,...: ,. . .. , , - � GOAL #2 Complete physical improvements to Mainstreet and develop the corridors connecting Mainstreet to County Road 3. Upgrading the infrastructure and aesthetic character of Mainstreet has provided business/property owners an incentive to make private investments to their properties. The Mainstreet Improvement Project was substantially completed in October 1992. Suggested action steps: 1. Undertake analysis of corridors to determine the potential for an improvement project which will enhance the connections between County Road 3 and Mainstreet. In process - Potential linkages being studied in the County Road 3 Corridor study. 2. Analyze the impact of the Mainstreet Improvement Project as related to parking, vital improvements; traffic; pedestrian movement, etc. Limited progress. � 3. Examine completing aesthetic and infrastructure improvements to Mainstreet between 5th Avenue and Washington Avenue. Completed - Improvement project complete as of Fall 1994. � Page 13 GOAL #3 � Develop and implement new financing programs to offer additional alternatives for financing redevelopment or rehabilitation projects on or near Mainstreet. Banking institutions in today's economy have limited ability to offer the financing options which were available a few years ago. Cities are expected to participate more than ever in providing various financing options and techniques for property owners and developers. The City currently offers low interest funds for rehabilitation, and Tax Increment Financing as a tool for redevelopment. Suggested action steps: 1. Work with the "bank consortium" to assist in securing financing for redevelopment projects on or near Mainstreet Hopkins. Completed/On-going. 2. Work with area banks to establish financial incentives in cooperation with , existing City programs to support rehabilitation or redevelopment opportunities on or near Mainstreet. I In process - Worked with local banks to develop programs to ;���� dovetail existing City programs. 3. Monitor state/legislative actions to ensure proposed changes to economic development tools are not detrimental to Hopkins. Encourage new . state/I�gislative programs which are beneficial to locat economic development initiatives. On-going. , ; :���� Paqe 14 ' -- -- - � - -- . . :.� . , , _ _ � CITY-WIDE IMAGE. GOAL #1 Develop and maintain a positive appearance and perception of the City of Hopkins. Appearance is an important aspect of any community's image. A city can undertake simple steps to improve upon their image which helps create a positive perception by residents and surrounding communities. Making a good first impression is important to attracting business and industry, and helping to maintain property values throughout Hopkins. Suggested action steps: 1. Encourage destination type businesses or uses which appeal to consumers interested in the arts, family types of uses, entertainment, and recreation. In process - e.g., Theatre/Restaurant/Arts Facility project. 2. Improve appearance of entry points to City through signage, landscaping, infrastructure, maintenance, etc. � In process - County Road 3 Corridor Study. Completed - Handicap Housing Project (Sonoma). . 3. Maintain and improve all public infrastructure. On-going - City Capital Improvement Plan insures this. 4. Advocate the growth and stability of community service type organizations, such as a"family resource center," and civic service organizations, such as local clubs, through informational and cooperative support when necessary. Completed/tn process - Property Managers Coalition, Hopkins Area Arts Association, Neighborhood Advisory board, Family Resource Center. 5. Closely examine impacts on city wide image when considering changes in services which affect the image of the community, i.e., city wide clean-up programs, etc. � On-going. Page 15 6. Prepare a program for implementation of a pedestrian walkway and bikeway system throughout the City. Incorporate with present plans for '� HCRRA property. Completed/In process - City and HCRRA adopted plan, a portion of which has been completed. � 7. Examine development of codes which closely regulate the maintenance of � commercial properties in the City. In process - Commercial properties will be affected by ro osed housin maintenance codes. P P 9 � 8. Maintain and improVe upon communication between City and School District to develop a team approach toward marketing and improving the community's image. In process - Schools & Community In Partnership. City's new Communication Coordinator position will assist this also. i ; 9. Maintain adequate buffer zones between new commercial development projects and residential properties. ,�� Limited progress. � 10. Encourage local organizations to continue, and improve upon the quality of events and attractions, i.e., Mainstreet Days, Heritage Days, Winterfest, Raspberry Festival, etc. On-going. 11. Undertake communication efforts which will help to increase public awareness between and among the City, businesses, and residents, involving volunteer networks, and access to the City's cable TV station. In process - City is hiring a Communications Coordinator. 12. Explore implementing programs to encourage the aesthetic improvement of private property such as a landscaping award program, and painting programs for single family properties, together with financial incentives for undertaking landscaping improvements. In process - Landscaping Improvement Program. Completed - Hopkins Community Image Award Program � � � � Page 16 _ , --- _ _ -- - .,. :: - --- .:�- - --- - - - � 13. Develop an information center in Hopkins. Limited progress. 14. Encourage/promote volunteers as a means to cost effectively improve upon the City's appearance, e.g., "Adopt-A-Park", "Adopt-A-Street", use of garden clubs, boy scouts, etc. On-going. � � Page 17 � Activity/Project: Westbrooke Neighborhood Rehabilitation Goal Provide a source of financing to assist the various associations in undertaking needed improvements. Status/Issues: o Staff is presently working with both Meadow Creek and Patio Homes to determine their interest in establishing a special service district to undertake needed,improvements. o On December 3rd the Meadow Creek Association voted whether to support establishment of a special service district. The majority of people at this meeting did support creation of such a district. o At the present time it appears that Meadow Creek may be in a position to undertake improvements in 1995. Anything that occurs with Patio Homes will probably take place in 1996. � o A hearing on the actual improvements and the related fee which would be placed against each unit will need to be held at a future date. Notes/Comments: � JK11304A � Activity/Project: M. B. Hagen Field Goal Develop site with a small industrial/office use. Status/lssues: o Property presently being offered for sale by the Little League. o A certain amount of soil correction is required in order to build on this site. o Frank's Auto Body has expressed a potential interest in constructing a new facility on this site. They are presently working with a construction manager to determine the overall feasibility of this project. o Large portion of the site is located within a flood plain. This limits the overall building size to approximately 13,000 square feet. o City assistance may be requested due to soil problems. � Notes/Comments: . � JK11304A � Activity/Project: Keefe Property � (Ninth Avenue and First Street North) Goal Develop the site with small scale office/retail. Statusllssues: o The City has provided a loan to pay for the removal of the two structures that are owned by Mr. Keefe on the southeast corner of 9th Avenue North and 1 st Street. , o Property will be cleared and will be offered for sale by Mr. Keefe. o Vail Place has made an initial contact with Staff concerning a possible interest on the site. It would probably require some type of public assistance to make the project feasible. Attachment: survey � 1 /2 Section Notes/Comments: � � JK11304A �:�5�3 ��. A9 � o a O. SCNd��L�. � C/+RUSI.E M/10f0 , ����� �Nm�►�ea�, � C I-i O L L L n rv � M A D S O N, Inc HCOIIfTCRCD lANO LVfIV� . ao. s��• E�iGI►vELRS �I�O �y.`VEYOf�S M1MN. M0. •!11 AR 1�• �Q P�Ifiiii AVQNU2 OOVT14 � s0. O�R. >�� . � D prO, a.0090 . � � NOPKitr�, NINM(fOTA .. � w�•. q0. •.�7� . .. � ga�O4 a�. oc90 PrrONC: O]0-7014 . .... . �o..w Np, l7p• W�. DY4. eeD MO, OAR. ��p� p a�. bs`�.B C E R T 9 F! 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(113)9 16{ ) ( � _ _ _ . , g . - . .� � - �` � 10 . � o !� (94) (89)i0 � � 15 (I!7 �fi2)!0 � _ ` , o �-- � � _ 3_ _13 �13��j''�, ` � 14 �93) (90)1 j � �� 14 t116 ((l3) 1 t � � � ..� . �� � • o ., ..13.�92} {9 �� 12 o O i3 (f l5 (1(4) I2 � � . - : .. ' . � l 5 � � 7 � � ��� � � � . � '� . t � I `� �o � � �42) i M � . 24(2 I — � � �' "� � (3) � r — � O � ` . ,— — — �43) 2 M -- �77 � �-- — ` � � �. � g �6) �07 A I � M � � � ti . {44) ' � O � — — � . .. . B � j 9O � — — — j Q � � (45) ..4 N � � �� {10�� _ �{�30) .. . — — — � . � � � (46) 5 � - 1 � � NI — � -- � ----� ---- ---� � - � '—� �/ _ —_-J — — — � �` — — — � � :-' . � _ � — � � — — — � � — — — �.�. _ � � � �.- �.. — ,�.�- P�• � 8125 square feet . K� Pn�. � 6518.5 square feet � ��,� , 0 11531.5 square feet i ��;�-•�„� Q 6600 square feet � Activity/Project: Commercial Rehab Loan and Facade Grant Program Goal Encourage upgrading of buildings along or adjacent to Mainstreet by providing low interest loans or grants. Status/Issues: o Currently working with Dale Feste of Feste Automotive to complete improvements to the former Hopkins Auto Body building. Request is for a $25,000 loan and a$5,000 facade grant. o Completed four facade grants for a total of $20,000 for 1994. o Working on facade grant #5 (Apparelmaster Cleaners) and facade grant #6 (Feste Automotive). o Based on recent changes to the guidelines of the loan program, and the creation of the grant program, new interest and activity has been stimulated. • NoteslComments: � JK11304A � Activity/Project: Sign Grant Program Goal Encourage improved signage along or adjacent to Mainstreet by providing grants to eligible businesses. Status/Issues: o Completed approximately four sign grants this year. - Mr. Office - Rudy Luther - Books on Main - Snyder Drug o Currently working with Best Buy Liquors and Instant Replay Sports. o An issue which staff has identified relates to the quality of signage which is being financed. Tighter quality standards will possibly provide for higher quality signs but may likely result in a decrease in the use of the � program. Notes/Comments: s JK11304A � Activity/Project: Landscape LoaniGrant Program Goal Formulate a program to provide low interest loans or grants to eligible commercial areas to provide or upgrade landscaping on their property. Status/Issues: o Strategic Plan supports this type of activity. o Began information gathering process to develop program. o Will be completing draft of program guidelines in early 1995. o Program is intended to facilitate upgrading of commercial property through landscaping improvements. Notes/Comments: � � JK11304A Activity/Project: Vacant Property, Intersection of Mainstreet/ � Shady Oak Road Goal Develop with small retail or office use. Status/lssues: o Property was recently taken back by the County for nonpayment of taxes. o The Hitching Post has expressed an interest in building on this site if the City provides assistance. " o Number of parking easements on the site make development very difficult. o County would take a portion of the property when Shady Oak Road is upgraded. Attachment Maps � Notes/Comments: � JK11304A . . - � � o _ . . . .. � �� �'� ��{���4f� . O� ,' � ' � ¢ ` w � ` \ � �. � '-"'----"--'---"'-""-"-"----""'---' ' � \ ��� � . •' f `�� ,~ ��� l .` . V � � s r � � �4WRC�'u`1 JQVlV�G � I � i� �� ,_ � . � � �/' � ;� I ; � ----------�--------__-----_----_ ; .; l �� � �; �, _ , � ^� � . i �j' ; . � /` N i. � . . { � � }� a s �aPK NS ; ; `'�� `e�;;,r ; � ��rr� s�oa s �•, ; t-s �- i ' � � — ' C"cNT�R �� ; ' _ ' ;� e . a �Fd��T .ATT : . • � - ' _� Q ... , - ""' ,; ��"'�"`=� I' o �� _—_ - ���' �_��__.,.�t _'_-`t.�'•c1 � .. »._.. ''�' ' �_ ,�r'+�'� �^ '' � . ' �- ���:+�..�.�yl+�'�� ' " "'���_�_�� ar Y� ��� ��� J_ . ' " " ' �,�-�. '. 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' . � d) • c , � ' �^vcE PAn1C � � � �t.^,�.L � , _ 1 ! . -�� � � � ; , � i � � � ' L , � `--------• ` ` � I . � � � " � - - - � `� �\\��� \\\ �, �. � � �.� �.� � . i � �\\\ \\\���.. \\\ \\\ �\\\\\\ , . :\\ �� \ � `��\\���\ �\:\ �. ..\�.\� ���\\��: �\�\�\ ', � �\\\��� \� c� �\ ��, �, \ , ��\, ��\� � \, \\; ��� � � \��� �� \ � � \ ��� �\�,s\�\� \�. �� \ � � \\�\�\ �. . ���\� .�„�.\�� .\\� \ ,�� ��. , ��� . � . � �. � 139� � ' � ' �\;�..� ����\� � � . �� � 70' ��.�`� \� � � \ � C�.� \� ��\�„��� ' �\� \ � \ �\��..� : � \ ,�� �\\�\\\�\����``�� � � �� \., ` \\�\ \�, .�\�\� ���\\ .;�' �\ �\\ ,.\ \ ,���� \\�..�\\.�\\\� 13 �\ \��\ � ���., ���\\ � ���,; � � ,\��; � ��:\�. �`���. \� ��•.. ,.:..: \\��\, � �� � ��\ � \�\� ..\\�;�,. � �\ �. >� ���� �; �:. ���.� �����\�: `�\����� � \\� \ ��� \ ���,, ���\� ;\� ��� \� \��.��:��:\��\� _ _ _ __..._ . _ . , � � _ _ _ __ _._ . . , , _ _ ., . _ _ _. ,.. . . _ _. _.__ _ _ __� _ _ � �� �.,��\ \\��� , : . . �, � . �� \\ . \ ,. , : \\����\��. ���\\� �����. \�\\\ �� � �\���� � �\\�\� � \ I : ����. :� �� �� \ , � ���\ �\ �� . ����, : � ���\�\\�\ ����\\� ; o� ; ,. , , . . . . .. . �. . .:. . �l . . ��:: . : �:. .., � ���i �. ... .. : ': �.:: .. � ... . .:.:':� �::: ' :: . � .. ..�.: F: . :..'. ...:: :.. � �: �� :: : . . ..i. . . :::.. � �.:: � �' ..� .. � � ' .:�::::. � ....:: ..........::.. .. .:: . �...:. '..:. ' ' . . ...... ,..... � . '. . . �.:::�::.. �::::� ... �.. ,. ' ... ? ::�: � ..... .:.. �:... �'.. ' : :: .. � . ;... � �:, . � . .. .: � .. � : .: ::: ......:. . �.: �... '.:i �.u: . :� .i . . ��', : .' .. ✓^�""'�^"'.� l ' �::�...::�. � . � .:...: � '. 1 l30' � ; ,::.: ; B ' , , , _, , , , _: ; :....: . . . , ;: ,.: , ,. :.:: ' _.. , 15 I I ; ; _, , .�.,�..�.-.,�..� ; , , New R 0 W _ , , . ,; ,. , ; _ _ . . ... .. ;: : , ,::. : , 6600 SQ. ET. BUILDING 7'OTAL 13,000 SQ. FT. COlJP1�.lAN 6/27/94 D,�.n�,.. �,�� � EXPENDITURE/REVENUE PROJECTIONS TIF DISTRICT 1-1 R�rnINING EXPENDITURES Suburban Chevrolet Site 6/95 Theatre/Restaurant 1,400,000 (Loan I) 6/95 Theatre/Restaurant 750,000 (Loan II) 6/97 Arts Facility 1,500,000 Total 3,650,000 Bursch Site 6/95 Acquisition 350,000 � Grocery Store 6/95 Acquisition of front bldg. 1013 Main 284,000 Commercial Rehab. Program - $ 50, 000 per year through 2001 350,000 Administration - $80,000 per year through 2001 560,000 Total Proposed Expenditures $5,194,000 � . _ _ _ - � Revenue Available TIF funds 12/94 2,105,000 Future Bond Capacity 1/95 2,500,000 Total Proposed Revenue $4,605,000 Projected Gap � 589,000 ISSUES FOR CONSIDERATION - Bond Issue capacity based on analysis prepared by Publicorp. Could vary depending on tax classification changes, timing of bond issue, and lowering of CBD tax base due to abatements. - The available revenues does not include resources in the Economic Development Fund. - Additional Tax Increment revenue can be rai`sed by � either creating a new TIF District on the Suburban site and/or extending the life of the existing downtown TIF District. Please note that to extend the life of the existing TIF District would require special legislation. However, it does provide the means to raise siqnificant additional TIF funds. Staff is interested in discussing this concept with the City Council. - Although unlikely, the revenue projections do not assume the repayment of any of the loans for the cinema project. �