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of land acquisition. <br />Alternatives: <br />At this time, this is simply a discussion item to determine the EDA level of interest in the proposed redevelopment <br />project and to potentially identify parcels for acquisition. Nothing in this case should be interpreted as the City is <br />actually considering additional land acquisition. Staff has not formulated a formal recommendation, and is seeking <br />broad EDA recommendation. Here are some questions to contemplate: <br />• Is the EDA OK with using TIF/EDA/HRA dollars to prepare plans and specs for roads and utilities? <br />• Is the EDA OK with using TIF/EDA/HRA dollars to extend utilities, rebuild roads and extend Ferret St? <br />• Is the EDA interested in purchasing properties with blight and zoning issues (tied to recent zoning requests)? <br />• Is the EDA interested in purchasing strategically located properties to help facilitate this redevelopment <br />project? <br />Funding Source: <br />If as a matter of policy and priority, the City felt this was an appropriate acquisition(s), there likely would be <br />adequate economic development funds. Possible funding sources include: <br />1. EDA Fund <br />2. Anoka County HRA (Housing and Redevelopment Authority) Fund <br />3. TIF (Tax Increment Financing) <br />Recommendation: <br />Based on discussion. <br />Action: <br />Based on discussion. <br />Site and Parcel Location Map <br />January 2019 Project Termination Letter <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Sean Sullivan (Originator) Sean Sullivan 03/29/2021 04:54 PM <br />Tim Gladhill Tim Gladhill 03/30/2021 08:11 PM <br />Tim Gladhill Tim Gladhill 04/01/2021 08:50 AM <br />Sean Sullivan (Originator) Sean Sullivan 04/01/2021 11:03 AM <br />Tim Gladhill Tim Gladhill 04/01/2021 11:54 AM <br />Form Started By: Sean Sullivan Started On: 03/24/2021 04:23 PM <br />Final Approval Date: 04/01/2021 <br />