| | | | | | | | 
Shakopee Economic Development Authority
June 20, 2017
|
| | | | | | | | | FROM: | Michael Kerski, Director of Planning and Development | | TO: | President and Members |
|
| | | | | | | | Subject:
Facade Improvement Loan for 110 First Avenue |
| | | | | | | | Policy/Action Requested:
Enter into a facade improvement loan for not to exceed $10,000 for a period of five years for the renovation of 110 First Avenue. |
| | | | | | | | Recommendation:
Make a motion to approve entering into a Facade Improvement Loan with Duane Wermerskirchen for an amount not to exceed $10,000 for a term of five years and authorize staff to execute the appropriate documents |
| | | | | | | | Discussion:
This structure formerly housed an award business.and had a large awning across the front that covered much of the facade. The proposal is to install a new smaller awning across the front and expose some of the original architectural detailing that has been found. Also, the applicant is proposing to rehabilitate the cornice and the brick area. The applicant's long term goal is to restore the entire facade and this is the first step.
The applicant has a new retail and office tenant that is relocating from an industrial area in Shakopee. They will be an attraction for downtown and should attract significant traffic. The staff worked with the applicant and Elliot Johnson from Main Street to get this tenant to locate in downtown. |
| | | | | | | | Budget Impact:
The Facade Improvement Program was funded at $130,000 for 2017. To date, Pablo's Mexican Restaurant was funded for $30,000 out of the current allocation. |
|