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<br />2. Storefront Improvement Program (SIP) <br />This program continued to apply to the Downtown and EI Camino Real. <br /> <br />løÅ~ <br /> <br />3. Cinema <br />An Exclusive Right to Negotiate (ERN) was negotiated with the developer, but there were many <br />open issues about the scale of the eventual project and the size of the associated parking structure <br />that could not be answered until the environmental review process was completed. <br /> <br />II. PROPOSED WORK PROGRAM FOR FISCAL YEAR 2000-2001 <br /> <br />Housing <br /> <br />1. Irvine Apartment Communities <br />Complete the site assemblage and relocation activities associated with this project, and assist the <br />developer to complete both phases of their project. <br /> <br />2. Shea Homes <br />The Agency Board has given the developer until November 20,2000 to redefine their project and <br />to reach agreement with the Agency on a DDA. <br /> <br />3. First Time Homebuyer Program (FTHB) <br />The program guidelines will be approved before the end of June 2000. The FTHB will be marketed <br />in July and August. It is anticipated that the proposed $1,500,000 appropriation will fund <br />approximately 15 loans. <br /> <br />4. land Banking <br />Complete the acquisition of sites identified during the 2000-2001 year. <br /> <br />5. Home Improvement loan Program <br />This program has always been funded with Community Development Block Grant (CDBG) funds. <br />Funding from the Redevelopment Agency will enable the program to serve households in the 80 <br />- 120% of median income range. <br /> <br />Economic Development <br /> <br />1. Retail/Cinema Project <br />Continue to pursue implementation of this project. <br /> <br />2. Economic Development Strategy <br />During 2000-2001 the Agency will complete the update of the 1996 Strategy document, including <br />business surveys and special data analysis. An implementation plan will be developed. With <br />regard to business retention, staff will continue to work closely with auto dealers, and will also <br />continue sponsoring the Business Appreciation Event. <br /> <br />With regard to business attraction, the Economic Development website will be upgraded and staff <br />will continue to seek to attract another full-service hotel. In addition, staff will continue to work with <br /> <br />4 <br /> <br />.-...-- _. T . <br />