Agenda - Economic Development Authority - 02/16/2005

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To provide ;general design gUidance in conjunction with a suitable development contract in Order to enhance the physical environment of the area. To provide adequate utilities and other public improvements and facilities, to enhance the Redevelopment Area and the City for new and existing development. To assist the financial feasibility of private projects to the extent necessary and where there is a correSponding level of public benefit.' To enhance the overall economy of the City and surrounding area by retaining current, and Providing additional employment opportunities for the residents of the City and surrounding community. To increase the :City's tax base by providing, critical public infrastructure improvements for the City. 10. To stimulate developmentl and investment within the Redevelo ~ment Area by private interests. Land Use The proposed land use for the Redevelopment Area is Town Center Subdistrict No. 1 (mixed use core). Public owned and operated facilities necessary for the public health, safety and welfare are permitted uses in the Redevelopment Area. Redevelopment Activities 1. Acquisition The City owns the property in the:Redevelopment Area on which the municipal facilities will be located, Other than that property, other property in the Redevelopment Area will be acquired by the EDA if and when required to facilitate development or redevelopment within the Redevelopment Area. 2. Relocation It is not expected that any persons Will be displaced as a result of this Redevelopment Plan. 3. Municipal Facilities and Other Public Improvements. The EDA proposes to cause the municipal facilities to be constructed and, as approPriate, other public improvements within the Redevelopment Area. 1723662v2 3 26