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EDA directs staff to pursue right-of-first-refusal options for three downtown parcels
Summary
The Hanover EDA voted Sept. 18 to have staff and the city attorney develop options for right-of-first-refusal agreements on three downtown properties to support potential 5th Street redevelopment plans.
The Hanover Economic Development Authority voted Sept. 18 to direct staff to work with the city attorney on options for approaching owners about right-of-first-refusal agreements for three downtown parcels.
Todd Bartels, a member of the EDA, proposed pursuing such agreements as part of early planning for a town‑square-style redevelopment along 5th Street; Brian Dismang seconded the motion and the board voted in favor. City Administrator Jennifer Nash described possible financing tools that could be used to support redevelopment, including DEED Brownfields programs, the Job Creation Fund and tax‑increment financing, and said the financing available depends on the type of development and commitments a developer could make.
The motion directs staff to develop options for approaching owners of 11103 River Rd NE (Straub), 11107 River Rd NE (Pink) and 112 Mill Pond Trail (Hill) about right‑of‑first‑refusal agreements and return proposals to the EDA. The board recorded the motion as carried "all in favor." The staff report and any recommended agreement templates are expected to be discussed at a future EDA meeting.
