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City of Hugo <br /> Downtown Redevelopment Project <br /> Q & A Newsletter <br /> This Q&A newsletter responds to some of the recent questions about the <br /> Downtown Hugo Redevelopment Project. <br /> Q. What is happening with the Downtown Redevelopment Project? <br /> A. The Planning Commission and the City Council recently held a joint meeting to discuss and <br /> begin to finalize the new design guidelines for the downtown area. The design guidelines are <br /> the result of a collaborative effort from businesses, residents, City staff and officials, and are <br /> intended to provide direction and shape plans for anticipated development in downtown Hugo. <br /> The City has also retained the services of Maxfield Research, through a grant from Metropolitan <br /> Council, to conduct a market study of the downtown area. The market study is needed to know <br /> if there is a market for the proposed uses and to understand what rates people will potentially <br /> pay for those uses. The Economic Development Authority (EDA) has become very involved in <br /> guiding the redevelopment process. The EDA have been meeting with developers interested in <br /> implementing the downtown plan, and non-profit public sector financing organizations, at their <br /> regularly scheduled meetings. The EDA has also established a subcommittee responsible for <br /> formulating a plan to create a Tax Increment Financing (TIF) Redevelopment District for the <br /> downtown area. <br /> Q. What type of development is proposed for the Downtown Area? <br /> A. The redevelopment project reflects the community's vision for a pedestrian friendly town <br /> center with unique mixtures of housing, retail, office space, trails, and public amenities such as <br /> a new City park across from City Hall and a boardwalk along Egg Lake. Other proposed uses <br /> include a senior housing facility, a new Carpenter's Restaurant along the shore of Egg Lake, <br /> and specialty retail and gift shops. <br /> Q. Which part of downtown will be developed first? <br /> A. The most likely part of downtown to develop first will be the properties along Egg Lake across <br /> from City Hall. Over the past few years, the City has been acquiring properties along the <br /> western edge of Egg Lake as they become available on the market. The City now owns a <br /> substantial amount of downtown real estate. Retaining ownership of the properties allows the <br /> City a considerable amount of control over the future uses of the site. It is possible, however, <br /> that separate redevelopment projects could happen in different parts of the downtown <br /> simultaneously. <br /> Q. What is the typical time frame for a redevelopment project? <br /> A. The planning process for a typical redevelopment project can take up to two years. <br /> Construction then begins and that could take two years depending on the size of the project. For <br /> a redevelopment project to work, it must not only meet community goals, but also make sense <br /> from both a market and financial perspective. Hugo's project is unique due to the complexities of <br />