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AGENDA RECOMMENDATION |
Consent Calendar 6.F.
City Council Regular Meeting
- Meeting Date:
- 04/13/2026
Agenda Item:
Resolution accepting and authorizing the City Manager to execute a Redevelopment Grant Agreement for 602-634 South Front Street and 112 West Liberty Street (Front Street Plaza).
Recommendation/Action(s):
Adoption of the attached resolution.
Summary:
On January 26, 2026, the City Council approved the submission of a redevelopment application to the Minnesota Department of Employment and Economic Development (DEED) for the Front Street Plaza project. In March 2026, DEED awarded a grant for the project.
The Front Street Plaza project was awarded a $1,160,711 redevelopment grant. Front Street Plaza, LLC, will redevelop the property located at 602-634 South Front Street and 112 West Liberty Street. The redevelopment would include demolishing the existing buildings and constructing a two-story parking ramp along Riverfront Drive, a six-story mixed-use building along Front Street which would include 23,000 SF of retail, coffee shop, restaurant, and 150 apartment units. A four-story office building would also be constructed and integrated within the second story parking ramp.
The eligible redevelopment costs include building and site demolition, soil retention for foundation demolition, geotechnical soil correction, public sidewalks and lighting, and removal and replacement of water, sanitary, and storm water connections. It is anticipated redevelopment will begin in 2026 and be completed in 2028. The matching funds of $1,160,711 have been committed and will be paid by the developer, Front Street Plaza, LLC. Other city applications, such as obtaining zoning approvals and building permits, are required to be completed prior to redevelopment activity occurring.
The grant agreement is attached. If acceptance of the grant is approved by the City Council, the City Manager will execute the grant agreement with DEED. A subrecipient agreement would then be entered between the City and Front Street Plaza, LLC. A draft subrecipient agreement is also attached.
The Front Street Plaza project was awarded a $1,160,711 redevelopment grant. Front Street Plaza, LLC, will redevelop the property located at 602-634 South Front Street and 112 West Liberty Street. The redevelopment would include demolishing the existing buildings and constructing a two-story parking ramp along Riverfront Drive, a six-story mixed-use building along Front Street which would include 23,000 SF of retail, coffee shop, restaurant, and 150 apartment units. A four-story office building would also be constructed and integrated within the second story parking ramp.
The eligible redevelopment costs include building and site demolition, soil retention for foundation demolition, geotechnical soil correction, public sidewalks and lighting, and removal and replacement of water, sanitary, and storm water connections. It is anticipated redevelopment will begin in 2026 and be completed in 2028. The matching funds of $1,160,711 have been committed and will be paid by the developer, Front Street Plaza, LLC. Other city applications, such as obtaining zoning approvals and building permits, are required to be completed prior to redevelopment activity occurring.
The grant agreement is attached. If acceptance of the grant is approved by the City Council, the City Manager will execute the grant agreement with DEED. A subrecipient agreement would then be entered between the City and Front Street Plaza, LLC. A draft subrecipient agreement is also attached.