1993 EDA Annual ReportCRYSTAL ECONOMIC DEVELOPMENT AUTHORITY
1993 ANNUAL REPORT
In 1993, the Crystal Economic Development Authority (EDA)
continued to pursue opportunities for redevelopment,
economic development and revitalizing the community's
housing stock.
Actions for revitalizing the community's housing stock
generally involve the acquisition and demolition of blighted
residential properties. Those cleared parcels are usually
sold at market value for residential building sites. In
some cases where the lot is substandard, the property is
sold to an adjacent property owner to create a larger,
conforming lot.
The EDA again participated in the Minnesota Housing Finance
Agency's program for first time home buyers. Through this
program, approximately $1 million were allocated to
qualifying first-time home buyers in Crystal.
Specifically, the EDA took the following actions in 1993 to
revitalize and improve Crystal's housing stock:
- Acquired the properties at 5402 - 53rd Avenue N.
and 5538 Yates Avenue N. and demolished the
structures;
- Sold the property at 3557 June Avenue N. to be
combined with adjacent property;
- Sold the properties at 5640 Quail Avenue N., 5402
- 53rd Avenue N., and 5538 Yates Avenue N. for
residential development; and
- Reviewed possible options for financing housing
redevelopment.
The EDA spent a great deal of the year pursuing
redevelopment and economic development opportunities.
Through the use of tax increment financing, several projects
for future redevelopment in the core commercial area (Bass
Lake Road - West Broadway area) advanced.
1993 activities for redevelopment and economic development
include:
Approving the Crystal Shopping Center streetscape
improvement project;
Extending development agreement with Supervalu for
redevelopment of the southeast corner of Highway
100 and 36th Avenue N.;
- Authorized execution of a development agreement
for redevelopment of the northeast corner of West
Broadway and Bass Lake Road;
- Acquired the property at 5237 Douglas Drive - the
existing structure will be demolished and the site
sold for commercial development;
- Completion of the County Road 81/Wilshire
Boulevard Corridor Land Use Study;
Approved the concept for assistance with a
redevelopment project proposed for the northwest
corner of Bass Lake Road and County Road 81; and
- Directed staff to review redevelopment
opportunities on several specific sites.
Recognizing the City's need to be more aggressive in
redevelopment of targeted sites throughout the community,
the EDA requested the City Council to levy taxes of
$100,000. These funds would be used specifically for
redevelopment purposes. The Council agreed with the EDA and
approved the levy.
Due to concerns about the need to maintain existing Crystal
businesses and improve the local business climate, the
Crystal Economic Development Authority Advisory Commission
(EDAAC) is pursuing Star City designation through the
Minnesota Department of Trade and Economic Development. As
part of this process, the EDAAC is conducting surveys with
selected businesses in the City to establish communication
with the business community and respond to related concerns.
The EDA looks forward to another year of progress in 1994.
The EDA will continue to be aggressive in its pursuit of
revitalization, redevelopment and maintaining and increasing
Crystal's tax base.