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1997 EDA Annual ReportCRYSTAL ECONOMIC DEVELOPMENT AUTHORITY 1997 ANNUAL REPORT Throughout 1997, the Economic Development Authority (EDA) continued its activities to maintain and improve the community's tax base, both commercial and residential. Maintaining and improving the community's commercial tax base generally involves redeveloping underutilized or blighted commercial sites. Specific activities regarding commercial redevelopment included: - The acquisition of several single family homes at 5624 and 5647 Hampshire Avenue North as part of the Crystal Town Center project. Payment for acquisition of the parcels is by the developer; EDA staff handled the actual acquisition discussions and paperwork. - Substantial completion of the Crystal Town Center shopping area at the northeast corner of Bass Lake Road and West Broadway. The EDA and other City representatives were present at several grand opening events late in the year at one of the anchor tenants, the Timberlodge Steak House. - Received a proposal for redevelopment of 5353 Lakeland Avenue with a 15,000 square foot industrial building to be constructed by September, 1999; the EDA authorized execution of a purchase/development agreement for this project. - Approved the use of unencumbered tax increment funds for decorative lighting along Bass Lake Road and West Broadway adjacent to Crystal Town Center. - Approved plans for redevelopment of the Suburban Motel/Arnold's Restaurant site by Morey Fish Company; these plans are currently on hold at the request of the developer. - Modified the Redevelopment Plan by creating Tax Increment Financing District No. 3 to include the Suburban Motel and Arnold's Restaurant properties. In terms of maintaining and improving the City's housing stock, the EDA has long been involved in acquiring blighted single family homes, clearing the properties and making the lots available for new residential development. In recent years, the EDA has concentrated on the new development offering move -up opportunities in the City to increase the variety of housing available in the community. Specific residential redevelopment activities include: - Sale of 3535 June Avenue North, 5720 - 43rd Avenue North and 3525- 29 Lee Avenue North to Dave Regel Construction; - Sold the property at 2731 Douglas Drive to Accessible Homes for development of a six -townhouse project (2 of the units are sold); - Acquired 5919 Kentucky Avenue North from HUD for rehabbing and sale to a qualified household; this project will be done with the NW Revitalization Corporation CHDO; - Acquired 5541 Zane Avenue North at the request of the property owner and demolished the home; this property will be held until the final plans for redevelopment of the Suburban Motel area are known; and - Acquired the homes at 5409 - 36th Avenue North, 5916 - 45th Avenue North, 4305 Zane Avenue North and 4343 Zane Avenue North for demolition. The EDA again participated in the MHFA's first time homebuyers program, this year through Hennepin County. Participating with Hennepin County meant access to more funds and approximately $1,500,000 were used in Crystal. John Benson continued his discussions with the EDA regarding possible development of the Nafstad property. As in the past three years, the EDA recommended and the Council approved an EDA levy for redevelopment activities to provide additional funding for redevelopment activities. The EDA Advisory Commission continued to advise the EDA on economic development matters, including completion of a one year economic development work plan and five year economic development goals. The EDA will continue to work with the EDA Advisory Commission to establish short and long range goals for economic development and together develop strategies for achieving these goals. 1997 ended on a sad note with the untimely death of Steve Peaslee, Planner and EDA staff person. The EDA will miss Steve and his work, particularly related to the residential redevelopment and New Crystal Home activities. In 1998, the EDA looks forward to continuing to work on residential and commercial redevelopment. The EDA will pursue new programs which may be appropriate. Specifically, the EDA will be involved in a Livable Communities grant from the Metropolitan Council for a planning project for the residential and commercial area northeast of 42nd Avenue and Douglas Drive. The grant was awarded to offer the City assistance with developing a redevelopment plan for two residential blocks and to look at possibilities for the 42nd Avenue commercial area. Crystal and New Hope are involved in an Enterprise Facilitation pilot project which offers an alternative approach to economic development. The EDA will be kept informed of this project; it is hoped this program will offer necessary assistance to budding entrepreneurs and young businesses in the community.