Title
The Future of Hudson's Downtown
Brief Description: Representatives of Fairmount Properties, owner of First & Main, will discuss the future of Hudson's downtown.
Body
Legislative History
None.
Purpose & Explanation
As the owner of the First & Main Development, Fairmount Properties has a very large interest (over 30 million dollars of investment) in seeing that the second phase of Hudson’s downtown redevelopment preserves and enhances the dynamic and economic health of our historic community core. They also have concerns that vacant property (as currently exists) has a detrimental impact on the current commercial area, especially given the economic challenges our downtown businesses will continue to face.
Fairmount continues to have a strong interest in partnering with the City to ensure the area continues to thrive. They would like to provide information to Council on ways to accomplish this, including the possibility of a ballot question for citizens for the November 3, 2020, Election.
They are very appreciative to have an opportunity to have this important and timely dialogue with Council.
Timing Considerations
Possible ballot issue for the November 3, 2020, Election.
Fiscal Impact
Currently Budgeted (Account #, $)
Supplemental Appropriation Required (Account #, $)
X Appropriation Not Required.
Recommendation
Suggested Action
Staff recommends Council consider input from Fairmount Properties regarding the future of Hudson’s downtown and provide direction to staff.
Submitted by,
Jane Howington, City Manager