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r <br />6. Area Redesign and Redirection - This is where a <br />master plan'is developed and takes a new direction for <br />the area, changing what was perhaps a residential or <br />small commercial area and transforming it into something <br />different, such as a significant office, industrial <br />commercial or multipule residential hub. This often <br />entails the development of an entire group of buildings <br />and putting in and financing of the new direction. <br />Again this has been seen in areas principally older <br />areas such as the central cities. <br />"done of these levels are necessarily exclusive and can be used as <br />being appropriate within each areas. <br />B. Area Tarsetinq - As part of the strategy and in addition to <br />the Zeve-off involvement, the City needs to tLke a comprehensive <br />look at the areas in which it does want to become involved based <br />on criteria it feels appropriate but it would take public <br />involvement. <br />C. Means to Achieve <br />1. Financial Tools <br />- Tax Increment Districts <br />- Revenue Bonds <br />- Community Development Grants <br />- Special Assessments <br />- Community Redevelopment District <br />- Public Tax Monies <br />- Municipal State Aid <br />_ Private Donations <br />Economic/Private Development <br />- Stir Cities Program <br />- City Surplus Investment <br />D. Development of Redevelopment Policy <br />Non -Financial Tools <br />- Community Leadership <br />- Land Use Planning <br />- Amenable Zoning on <br />Subdivision Regulation <br />- Master Planning <br />- Strategic Planning/ <br />Process <br />- Public Improvements <br />The following represent steps needed in development and <br />redevelopment policy. <br />I. DevQlopmnnt of general strategic direction <br />2. Setting goals and objectives policy <br />1. Target areas: <br />a. level of involvement <br />b. tools of development <br />C. implement redevelopment plans <br />4. Evaluation and redirection <br />