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The Authority intends, to the extent permitted by law, to accomplish the following objectives through the <br /> implementation of the Development Plan: <br /> 1. Promoting and securing the prompt development of property in the Project Area in a manner consistent <br /> with the City's planning and with a minimal adverse impact on the environment,which property is less <br /> productive because of the lack of proper utilization and lack of investment,and thereby promoting and <br /> securing the development of other land in the City. <br /> 2. Promoting and securing additional housing opportunities within the Project Area and the City for <br /> residents of the City and the surrounding area,thereby improving living standards and preventing the loss <br /> of residents. <br /> 3. Securing the increase in value of property subject to taxation by the City,School District,County and <br /> any other taxing jurisdictions in order to better enable such entities to pay for public improvements and <br /> governmental services and programs required to be provided by them. <br /> 4. Securing the construction and providing moneys for the payment of the cost of public improvements in <br /> the Project Area, which are necessary for the orderly and beneficial development of the Project Area. <br /> 5. Creating a desirable and unique character within the Project Area through quality land use alternatives <br /> and design quality in new buildings. <br /> 6. Providing and securing the development of increased opportunities for senior citizens to choose from <br /> housing options which offer a wide array of services without regard to income. <br /> Subsection 1-5. Statement of Public Facilities and Costs to Be Financed <br /> The Authority will perform or cause to be performed, to the extent permitted by law, all project activities <br /> pursuant to the HRA Act, the TIE Act and other applicable state laws, and in doing so anticipates that the <br /> following may,but are not required,to be undertaking by the Authority: <br /> 1. The making of studies,planning,and other formal and informal activities relating to the Development <br /> Plan. <br /> 2. The implementation and administration of the Development Plan. <br /> 3. The re-zoning of land within the City. <br /> 4. The acquisition of property,or interests in property,by purchase or condemnation,which acquisition is <br /> consistent with the objectives of the Development Plan. <br /> 5. The resale or lease of property to private parties. <br /> 6. The establishment of covenants or other restrictions to protect public interests. <br /> 7. The preparation of property for use and development in accordance with applicable Land Use <br /> Regulations and any development agreements, including demolition of structures, clearance of sites, <br /> placement of fill and grading. <br /> 8. The construction of public improvements and facilities needed to serve the Project Area. <br /> Orono HRA Development Plan for Housing Project No. 1 I-3 <br />