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CASE #4 HIGHWAY #10 REDEVELOPMENT By: James D. Gromberg, Economic Development Coordinator Background: At the last Commission meeting, we started to discuss the possible projects that the Commission should undertake Ouring 1995. One of the suggested projects was to review the possibility of encouraging the r~levelopment of the Highway gl0 area. This redevelopment may include cleaning the area bY property owners and the City. One of the questions that was raised were the things the City could spend Tax Increment funds on in the areas that ~ part of Tax Increment Financing District g4 (TIF g4). I have enclosed a copy of the restrictions t~e City has placed on TIF expenditures from the revolving loan documents. As you will note, the t~rpes of expenditttres encompass fairly broad language. It should also be noted that the expenditur~ of funds would require approval from the City Council. Another item that was suggested was the development of an overlay for the map of the Tungsten/Rive~e Drive N.W. area of Highway gl0. This map and overlay is attached to allow the Commission n~mbers the opportunity to see the different businesses in the area. Commission members were also requested to drive through the area to get the visual effect of any possible improvements. I have also included a copy of the 1988 Highway #10 corridor study that was completed by the City with Commuflity Development Block Grant (CDBG) funds. The Commission may want to use this document as a guideline for future proposals for the future of Highway gl0. Councilmember P~.terson has expressed an interest in working with the EDC in having meetings with the Highway #10 business people. Commission Action: Based upon discussion, the Commission should develop a course of action for the continuation of this project. Reviewed by: City Administrator Economic Development Coordinator EDC:2/2J95