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1998 EDA Annual ReportCRYSTAL ECONOMIC DEVELOPMENT AUTHORITY 1998 ANNUAL REPORT Throughout 1998, 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. For residential property, it generally involves rehabilitating or replacing substandard housing. Specific commercial redevelopment activities in 1998 included: ❑ Completion of the Crystal Town Center shopping area at the northeast corner of Bass Lake Road and West Broadway. In 1998, the Minnesota Shopping Center Association gave the project a STARR award for design and aesthetics. ❑ Receipt of a proposal from Industrial Equities to develop a 90,000 sq. ft. office warehouse building on the County Road 81 redevelopment site (formerly the Paddock, Arnold's and Suburban Motel properties). As of the end of 1998, staff is working with two adjacent property owners on acquisition of additional property required by the developer; construction of the facility s expected in 1999. 2. 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 development of move -up housing opportunities in the City, to increase the variety of housing available in the community. Specific residential redevelopment activities in 1998 included: o Sale of 4342 Adair Avenue North to David and Janice Jones, for construction of a new single-family house in 1999. ❑ Sale of 5331 Corvallis Avenue North to Daniel Johnson, who will rehabilitate and occupy the existing house. ❑ Acquisition of 5719 35th Avenue North. ❑ Acquisition and demolition of 5916 45th Avenue North and 4305, 4306 and 4343 Zane Avenue North. 3. On the multi family housing front, the EDA has been approached by Lang Nelson regarding the possibility of using Tax Increment Financing to assist with the rehabilitation and conversion to senior housing of the Lamplighter apartments, and the possible construction of an assisted care facility immediately north of the apartment complex. At the end of 1998, staff was working with the developer on a proposal for EDA consideration. 4. The EDA also continued to participate in the MHFA's first time homebuyers program through Hennepin County. Loans were made to 11 first time homebuyers for the purchase of homes in Crystal. Other programs, such as the Community Fix -Up Fund and a variety of other home improvement assistance programs continue to be made available to Crystal homeowners. 5. 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. 6. The City was awarded a grant from the Liveable Communities program to analyze the neighborhood north of 42nd Avenue and east of Douglas Drive, to include a redevelopment plan for two residential blocks and to explore possibilities for the 42nd Avenue commercial area. The first public meetings with residents and businesses were held in fall 1998, and completion of the planning project is expected in spring 1999. 7. Crystal and New Hope have partnered in an Enterprise Facilitation pilot project which offers an alternative approach to economic development. The program offers advice, guidance and technical assistance to entrepreneurs and start-up businesses in both communities. The program began operating in 1998 with the selection of Mary Beth Healey to provide these services. It is hoped that this will help diversify our community's economic base and encourage the creation of new business opportunities in Crystal. 8. The EDA Advisory Commission continued to advise the EDA on economic development matters. The year ended on a sad note with the death in December of Adrian Rygg, an Advisory Commission member and former City Council member. The EDA will continue to work with the Advisory Commission to establish short and long range goals for economic development and together develop strategies for achieving these goals. The EDA will also continue to seek the Advisory Commission's input on redevelopment projects on an ongoing basis. In 1999, the EDA looks forward to continuing to work on residential and commercial redevelopment to improve the quality of life in the City of Crystal.