AgdaPkt 2009-12-14 - Laserfiche WebLink

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7C Summa of IVon-Housin R Pa e 2 1'y g equiremenfs and activifies 9 The Project Area continues to suffer from blighting conditions, including inadequate infrastructure, unsafe buildings, and small irregu#arfy shaped lots, and a lack of new investment. The Agency has ac�ively engaged in projects and programs ta remedy these blighting conditions. Dur�ng the past 5-year implementation plan period, the Agency's acti�ities have focused on completing the downtown improvements funded by the $33 million bond issue, and assisting in developing a very active events schedule to attract visitors to the downtown to reinforce it as an entertainment destination. Additionally, land assembly, streetscape, and infrastructure improvements have been implemented to set the stage for new private inves#ment. Key new projects completed aver the pas#five-year period inc�ude the following: • "�n Broadway" retail-cinema project and downtown parking garage; • Theater Way streetscape improvements; � �Downtown parking management plan; • Courthouse Square; • Downtown Precise Plan {under revision); • Downtown special events; • Storefiront improvemen�grants � 11Vayfinding and Qirectional Signage Program The Agency's goals for the 2010-201� Implementation P�an period include: • Continue to upgrade public improvements and linkages with the downtown + Rehabilitate aging commercial and residen#ial structur�s • Assemble parcels into developable sites • Provide financial assistance for new private de�eiopment, promote redevelopment in accordance wi#h �he Downtown Precise Plan and the new General Plan + Enhance viability of transit and the Caltrain Station {t is estimated that the Agency wil4 accrue approximately $49.5 million of tax increment during this period tha# will be available to fund future projec#s and programs as well as existing obligations. After payments to other taxing agencies and existing obligations, i# is estimated that the Agency will have approximate�y $5.? to $9.9 million of funds to expend on new non-housing projects and programs. Programs contemplated for the next five-year period include: • Public facili�ies and infrastruc�ure improvements - Construc# pubiic facilities and infrastructure that are supportive of development envisioned in the revised Downtown Precise P(an (DTPP). Develop a plan for the Depot Circ#e concept; underfiake streetscape improvements on Middlefield; EI Camino Real and "Downtown Core" streets; and cvnstruct pedestrian and bicycle linkage improvements both within the downtown and to adjacent neighborhoods/transit. • Noover Mobility Stuc�y-- Implement findings of Hoover Area Community Mobility Pfan. • Economic developmenf programs — Secure vendors for Cour#house Square kiosks, support business expansion and retention, provide funding far downtown events; consider expanded assistance to downtown businesses. • Adminisfration and planning — Complete and implement revised Downtown Precise P1an; underfiake feasibility study of streetcars; prepare marketing, promotion, and communication programs.