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Mr. Sullivan stated that, along with the properties the City was acquiring, future thought was <br />required as. to how the surrounding properties would develop. He felt that the City needed to <br />play a role in getting the redevelopment process going, but it was also evident that participation <br />by area businesses that were willing to assist the City was needed. He explained that the City <br />was becoming aware of development opportunities on an accelerated basis, so it was important <br />to have a distinct direction regarding the future for the area. <br /> <br />Mr. Sullivan's recommendation was that the City facilitate acqUisitions or outright purchases of <br />properties identified in the Critical Blight Redevelopment Project Area when it became evident <br />that them were willing sellers or opportunities for quality redevelopment. <br /> <br />Chairperson Riley asked if money was available to TIF District No. 2. Mr. Sullivan responded <br />that dollars were available for "picking away" at what needed to be done as sites were identified. <br /> <br />Member Kurak questioned if the City should install improvements at the Chies and Morrell <br />properties before they were sold. She questioned if the price of the land would increase if the <br />improvements (sewer, water, etc.) were made. Mr. Sullivan responded that the City had thought <br />of that. The goal is to purchase properties prior to construction of public improvements if the <br />improvements are deemed feasible or necessary. <br /> <br />Discussion followed regarding funding for the sewer and water placement, the location of sewer <br />and water placement, the time line involved and job creation. Mr. Norman noted that two <br />businesses could be set up this year. <br /> <br />Councilmember Sarah Strommen arrived <br /> <br />Case #4: Rum River Commercial Node Redevelopment Study <br /> <br />Jim McComb, McComb Group, Ltd., attended the EDA meeting and handed out a preliminary <br />Rum River Commercial Node Redevelopment Study report. Mr. McComb reviewed the report <br />with the EDA. <br /> <br />The following statistics and information were presented as a result of Mr. McComb's <br />presentation: <br /> <br />The population growth had been approximately 90% in the trade area since t 990. He added that <br />many of the new residents were not shopping in the Rum River area; however, the older <br />population was continuing to shop in that area. Mr. McComb noted that this could cause a <br />shrinking customer base while the population was growing. <br /> <br />Traffic was increasing by 3% per year in the Highway 47 and 167th area. <br /> <br />Shoppers in the Rum River area were doing convenience shopping and driving elsewhere for <br />their major shopping. <br /> <br />Economic Development Authority / June 9, 2003 <br /> Page 5 of 7 <br /> <br /> <br />