AgdaPkt 2008-02-11 Clsd and Reg - Laserfiche WebLink

Browse Search

80 Page 12 C. Project Area Goals and Objectives for the Remaining Two Years of the Implementation Plan The 2005-2009 Implementation Plan enumerated a number of goals and objectives for the five year period. With the successful completion of a number of key projects, the Agency has achieved several of the goals identified in the Plan. The remaining goals and objectives that have not yet been fully achieved include the following: 1. Rehabilitate aging commercial and residential structures. The Project Area has problems with deficient economic use of buildings. A number of the residential and commercial buildings in the historical downtown area, particularly in Amendment Area #2, were constructed over fifty years ago, and little has been done to maintain or upgrade these buildings. As a consequence of structural aging, the utility of the structures has greatly diminished, and a number of the buildings no longer meet the needs of the existing uses. The on-going home improvement loan and storefront improvement programs continue to address this situation. In addition, the Agency will provide additional residential rehabilitation assistance and commercial development incentives as opportunities arise. 2. Assemble properties into developable sites. There are additional problems associated with subdivided lots of inadequate size and in multiple ownerships. The Project Area contains structures and properties in need of rehabilitation, but the diverse property ownership pattern and other historical development patterns impede the private sector's ability to assemble sites, Site acquisition and assembly for affordable housing development will be a continuing priority over the next implementation plan period. 3. Encourage additional private development and promote an improved private investment climate. The Agency will continue to work with the private development community and merchants to encourage new investment in the Project Area. The Agency's public improvement, economic development, and housing initiatives will contribute in their aggregate effect to enhance the investment climate. 4. Enhance viability of transit and the Caltrain Station. The Caltrain station is an underutilized Project Area resource. The recent addition of faster "Baby Bullet" service and the potential for high-speed rail have made it an even more valuable asset. To take full advantage of the station, the Agency will support transit-oriented development in the vicinity and improve pedestrian linkages to EI Camino Real and the Downtown. 5. Implement the recently adopted Downtown Precise Plan. The Downtown Precise Plan (DTPP) was adopted by the Council in May, 2007. The Precise Plan is consistent with and supportive of the Redevelopment Plan. The DTPP was established to orchestrate private and public investment actions in the Downtown for the purpose of reviving the Heart of the City. It also establishes the primary means of planning City actions and investments in support of the growth of Downtown. Keyser Marston Associates, Inc. \\Sf-fs 1 \wp\ 18\ 18610\1861 0.005\002-002,doc; 1/17/2008 Page 6