BOARD AGENDA ITEM
SUBJECT:
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AR-2025-0030: Discussion of the Park Avenue "Mainstreet" led by the Economic Development Director.
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DEPARTMENT:
Economic Development
SUMMARY:
The City of Edgewater allocated $797,742 in Fiscal year 2024 - 2025 for the land acquisition within the CRA to facilitate the creation of a downtown. In 2008, the vision plan called for a reimagined Park Avenue, however the report did not indicate a policy of property acquisition to facilitate this vision. The City of Edgewater recently hired Kimley Horn to conduct new surveys to ascertain a new vision for the City of Edgewater. Based upon the feedback from the public, the downtown vision has been reimagined as a main-street. City staff approached the Economic Development Board at the December 4th, 2024 meeting to request the boards opinion regarding which properties to purchase. On January 27th, 2025, the CRA Board held a workshop. The CRA board would like a plan established for how to implement the vision and requested an update in three months.
City staff see two paths forward. The City could acquire as much property as possible, and then subsequently go out for bid to procure a main street. The second option involves incrementally working through public-private partnerships to purchase and subsequently develop individual parcels. City staff have provided below two pro and con lists to both approaches:
Purchase all Property and Bid
Pro
Con
Cohesiveness
It will likely take 8 to 10 years to acquire all the property.
City can approve its own PUD, which means a zoning district does not need to be immediately created, allowing for public input.
PUD's have a negative connotation
Allows for the transformation all at once
City would have to consider eminent domain
Removes the City from having to do public-private partnerships and develop.
Developing public-private partnerships would allow the City to focus on promoting small businesses and establish entrenched relationships with the bus...
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