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inhibit the size of the underground structure, but preliminary studies demonstrate that this is <br />possible to accomplish. <br /> <br />The advantage to this underground structure on Block One, is it allows Block Two to be <br />available as a City-owned asset for future development that will be more in concert with the <br />overall urban design of downtown now being created. <br /> <br />Funding <br /> <br />As Council is aware, without an office building on Block Two, funding for the earlier parking <br />structure is no longer available. Other sources and alternatives need to be explored. <br /> <br />Urban Design issues <br /> <br />As we continue to implement our Downtown Area Plan and work with urban designers such <br />as Fred Kent, it becomes increasingly clear that Block Two is a very strategic piece of the <br />Downtown revitalization puzzle. With a successful retail-cinema project acting as a catalyst <br />for the downtown on Block One, Block Two will increase in value to the City. Not just from a <br />monetary perspective, but also from the perspective of developing a cohesive, concentrated, <br />urban downtown that is accessible by mass transit, pedestrian friendly, and connects all of <br />the vital land uses in the area. <br /> <br />Looking to the future, it may be best to preserve development on Block Two for now. <br /> <br />The development of Block One can proceed as proposed provided adequate parking is <br />available to support Block One and a revitalizing downtown. A proposed revised DDA and <br />an EIR Addendum on the revised project will be coming to the Council for consideration in <br />the next few months. <br /> <br />· Page 3 <br /> <br /> <br />