Agenda - Economic Development Authority - 04/19/2004

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building will receive more recognition and opportunities to utilize the building (for a designated use) if it is located within the Town Center. In the event the EDA and City Council desired to entertain the thought of moving the historic building, staff obtained a very preliminary quote of $35,000 dollars to relocate the building from its current location to the Town 'Center (approximately 3 miles). It should be noted that the old town hall property is designated as a historic site. Upon moving the building the property would lose it's historic designation, however the building continues to maintain it's historic Value no matter where it is located. Staff would like to initiate discussions regarding yet another option for EDA and City Council consideration. This option would include leaving the historic building in its current unimproved condition and relocate the building to a City park. The function of the building would be for historical educational and cultural purposes only. The building would not be rented or utilized for any purpose except to construct a plaque next to the building providing the history of the building. This option would not generate any revenue but it could give the community historical pride appeal. At the February EDA meeting, the authority discussed possible options for the land in the event the building was moved to Town Center. The property is approximately .48 acres in size. According to Anoka County records, the total market value (includes land and building) is $121,200 and the market value of the land is $101,200.00. Due to the acreage size constraints, location adjacent to a private street, lack of parking access; the property would not be a good candidate for commercial development. However, Landmark Community Bank has stated interest in expanding their parking area and staff anticipates Children's World is also in need of a parking lot expansion. Staff would also suggest utilizing the property for some type of honorable mention amenity (i.e. monument, plaque, statue) signifying the property contained the original town hall. Recommendation: Discuss options related to renovating and utilizing the Old Town Hall historic building based on several variables that include but are not limited to cost, site logistics, historic site, and potential uses. The EDA may also desire to provide a recommendation to the City Council for their preliminary discussions. EDA: 4.19.04 ?.3