HomeMy WebLinkAbout9F - Downtown Building Improv.
MEETING DATE:
AGENDA #:
PREPARED BY:
AGENDA ITEM:
DISCUSSION:
CITY COUNCIL AGENDA REPORT
JUNE 17, 2002
9F
DONALD RYE, COMMUNITY DEVELOPMENT DIRECTOR
CONSIDER APPROVAL OF RESOLUTION ESTABLISHING A
MATCHING GRANT PROGRAM TO ENCOURAGE
DOWNTOWN BUILDING FA<;ADE IMPROVEMENTS
History One of the recommendations in the Downtown
Redevelopment Guide prepared by HKGI in 2000 was to "Provide an
economic incentive for existing businesses to reinvest in buildings and
facades," The City Council directed staff to develop such a program to
accomplish that recommendation.
Current Circumstances Staff has prepared a recommended program to
assist Downtown businesses in the renovation of storefronts. Details of
the program are contained in the attachment titled DOWNTOWN
BUILDING FACADE RENOVATION, To summarize, the program
will utilize $150,000 from the existing Tax Increment Fund to provide
the matching grants to business owners who wish to make fayade
improvements. The program is proposed to be in existence either until
the money runs out or two years from now. A maximum grant of
$25,000 will be available and the minimum is $5,000. To be eligible for
grant assistance, all improvements must be approved by staff and be
consistent with the design standards for the Downtown in the zoning
ordinance. Only actual verified costs will be reimbursed,
Issues The issue is whether the proposed program meets the
expectations of the Council in providing the desired type of assistance.
The total amount of money in the Tax Increment Fund is $288,000 but
some of this will be needed for the Pleasant Avenue parking
improvements and some will also be needed to assist in infrastructure
improvements in the Downtown area. Staff believes $150,000 is the
maximum that could be made available for this program.
162,1.r.-'O,;1,PILES\,Q2eda\ccreportli.I102fa\Oade,dCjlc k' 1
uU~Eagle creeK i-we. ~,t:" r-rJor La e, Mmnesota 55372-1714 / Ph, (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
AL TERNA TIVES:
RECOMMENDED
MOTION:
REVIEWED BY:
1, Approve the attached resolution establishing the matching grant
program and providing funds for the program.
2. Do not approve the attached resolution
3. Defer action for specific reasons
1. Alternative 1
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2
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RESOLUTION 02~
RESOLUTION OF THE PRIOR LAKE CITY COUNCIL ESTABLISHING A MATCHING
GRANT PROGRAM TO ENCOURAGE DOWNTOWN BUILDING FACADE
IMPROVEMENTS AND PROVIDING FUNDS FOR THE PROGRAM
MOTION BY: ~:t SECOND BY: --04
WHEREAS: The City Council of the City of Prior Lake, MN, has determined there is a need for a
program of incentives to encourage businesses in the Downtown area of the City to
renovate building facades; and
WHEREAS: The City Council has determined such a program is in the public interest and serves a
public purpose by encouraging the revitalization of the Downtown commercial area;
and
WHEREAS: There are funds available to assist this program,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PRIOR LAKE, MINNESOTA, that it hereby approves the matching grant program contained in
the document entitled DOWNTOWN BUILDING FACADE RENOVATION that is attached to and
made part of this resolution and hereby approves the use of up to $150,000 to be drawn from the Tax
Increment Fund to fund this program
Passed and adopted this 17th day of June, 2002.
YES NO
HAUGEN HAUGEN
GUNDLACH GUNDLACH
LEMAIR LEMAIR
PETERSEN PETERSEN
ZIESKA ZIESKA
{Seal} City Manager
City of Prior Lake
document3
16200 Eagle Creek Ave, S,E" Prior Lake, Minnesota 55372-1714 / Ph, (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
DOWNTOWN BUILDING F A<;ADE RENOVATION
MATCHING GRANT PROGRAM
CITY OF PRIOR LAKE, MN.
A maximum of $150,000 will be dedicated for use in this program. Source of funds will
be from balances available in Downtown TIF Districts. Funding under this program will
be available until the money is exhausted or 2 years from date of approval of the program
by the City Council, whichever occurs sooner.
Maximum grant amount-$25,000 -Minimum grant amount $5,000
Qualifications-
. Property must be located within the Downtown zoning district (C-3, Specialty
Business)
. Property must be used primarily for retail, office or other uses permitted in the
Downtown district
. Property improvements must be in compliance with all provisions of the zoning
ordinance, particularly the design standards and be approved by staff
. The property shall be insured for the full replacement value
. Applicant can be either the building owner or tenant (with the joint signature of
the owner on the application).
. Exterior repairs and improvements can be accomplished without requiring interior
improvements unless there is a life safety issue.
. Applications for funding shall be accompanied by architect's plans for the
renovation that provide elevations of the proposed exterior of the building in
sufficient detail.
Eligible Improvements-
Rehabilitation of storefronts and facades consistent with the design standards in
the C-3 district
. New signage
. Cleaning, painting and staining of exterior surfaces
. Masonry repairs
. Removal of exterior surfaces
Ineligible costs-
. Refinancing
. Working capital
. Inventory
16200 Eagle Creek Ave, S,E" Prior Lake, Minnesota 55372-1714 / Ph, (952) 447-4230 / Fax (952) 447-4245
AN EQUAL OPPORTUNITY EMPLOYER
. Materials only
. Sweat equity
. Improvements completed prior to grant award
The City will reimburse 50% of the actual costs of the eligible improvements up to a
maximum of $25,000. Such costs shall be documented by submission of paid invoices to
the City. Grants will not be made for work completed before execution of a grant
agreement with the City. Such agreements shall be subject to the approval of the City
Council. The City reserves the sole and exclusive discretionary right to approve or deny
all or part of any application for funding under this program.
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