Laserfiche WebLink
a.) P.ctivities the City should undertake <br />b.) The type of redevelopment the City desires in the <br />selected areas(both commercial and or residential) <br />C.) T`­� level of City involvement <br />(A comprehensive approach that might have the kind of spill over <br />benefits that the staff is reviewing is the Star CiLy Program. <br />This progran has been developed by the State to provide 6ec6n1ca <br />assistance to qualifying communities, principally for ecunomic <br />levelopment. Since however rede'telopment and economic <br />development, utilize similar tools, qualifying for the program <br />may provide some benefit in the area of needed technical <br />assistance.) <br />At present, it is questionable if the primary funding tools <br />including tax increment bonding, industrial revenue bonds and <br />municipal tax exempt bond issues generally will be available upon <br />passage of the tax reform on the Federal level. Over the next <br />few months this may have a decided ii,pact on the redevelopm,:r,t <br />Orono is able to engage in. It should be noted however, that <br />this may not be as serious an impediment as it once was <br />considered. There have been some taxable issues that have been <br />recently placed by public agencies that have resulted in interest <br />rates not dissimilar and in some cases lower (because of the <br />methods used) than a traditional tax exempt bond. (This is due <br />in part to arbitrage rules not being applicable to taxable bond <br />issues of p-thlic agencies.) <br />Community Dove lO meet and Redevel nt strata - As mentioned <br />TE-Ts approprTat• a s � o un aria • a review of the <br />direction the City wants to undertake regarding its community <br />development together with any redevelopment that it desires to <br />take, once Council has discussed and decided the direction that <br />they want to go, staff will then be able to more definitely <br />explore the work in each of the target areas selected to <br />determine what is appropriate. Attached you will find an example <br />of some preliminary directions for the Navarre area. <br />RECOMMENDATION - It is recommended that at the Council's January <br />TT;-1$ meeting the- -he Council generally discuss the area and <br />give staff an indicat i preliminarly of what things they [eel <br />are appropriate to b( ndertaken. Based on that, staff will do <br />the following (included are staff's recommendations for <br />directions). <br />a) nevelopmcnt o_' Ge_neral_Stratc_gy - It is su-lgested <br />that in .>acF oC t: F. najnr areas below the following <br />levels of activity be engag,td in <br />-Commercial Area. - T'tr C I t y •,ngage. In <br />r ed�ve inpmenk, 3�4:ng is a c3t31yst to promote <br />private elfortn tog•th••r with working ,,, : +aster <br />plan to - lovotatl with Cnuniy I tm)r Jv:ment&. <br />