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DRAFT DRAFT DRAFT <br /> City Council 2013 -04 -24 6:56 p.m. <br /> Minutes of Work Session <br /> Present were Mayor Tom Wilharber, Council Members D Love, Jeff Paar, Steve King, <br /> and Ben Fehrenbacher. Also present were City Attorney Kurt Glaser and City Engineer <br /> Mark Statz. <br /> Bill Beard of Beard Group was present to discuss the Downtown Redevelopment Plan. <br /> He reported that the housing market is improving throughout the metro area, however the <br /> slowest recovery is in the northeast portion of the Twin Cities area. Residential rental <br /> market is doing pretty well with a very low 2% vacancy rate. He indicated that the type of <br /> housing that is being constructed is changing to meet a market that is demanding a <br /> different type of unit than what has been constructed in recent years. The "Boom <br /> generation" and the Gen -Y group are fueling a demand for rental units. The townhome <br /> market is over - supplied, but single family detached homes are still being built, but in <br /> lesser quantities than prior to the recession. Some communities in the area are running <br /> short of available building lots, while in other communities, the demand is very light. He <br /> noted that communities are reducing the amount of anticipated commercial space in <br /> redevelopment areas, and those commercial spaces are often focused on hospitality <br /> business. Mr. Beard suggested that the city may wish to invite the Urban Land Institute to <br /> come for a presentation. <br /> Mr. Beard was asked whether the City -owned land in Block 7 could be an immediate <br /> opportunity for some type of project. He will visit with his associates and offer some <br /> suggestions. <br /> After all questions were asked and answered, the work session was adjourned at <br /> approximately 7:30 p.m. <br /> Dallas Larson, Administrator <br /> 12 <br />