AgdaPkt 2004-12-13 - Laserfiche WebLink

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� � D. Overview of Plan Progress/Praject Area Accomplishments to Date As detailed in the following list, the Redevelopment Agency has successfully completed a number of projects and programs. Activity during the past 5-year implementation plan period has focused on land assembly, streetscape, and infrastructure improvements to set the stage for new private investment. To accomplish these objectives, the Agency issued $33 mi�lion of bonds in 2003 and $15.4 million of bonds in 1997, which refunded the outstanding balance of bonds issued in 1991. The 2003 bond issue produced $32.6 million in new proceeds to fund Agency projects. ■ On Broadway Retail-Cinema Project and Downtown Parking Garage: Construction is underway on a 20 screen, 4,200 seat downtown cinema with approximately 85,000 square feet of retail space. The Agency has assembled land and is funding construction of a 590 space underground public parking facility that will be integrated into the project. Accomplishments to date include completion of the Disposition and Development Agreement with BHV Innisfree Ventures, land assembly, and relocation of an underground culvert on the site. Construction is expected to be complete by the end of 2005 or early 2006. ■ Theatre Way Streetscape Improvements: The Agency is funding streetscape improvements to "Theatre Way" in the vicinity of the On Broadway Retail-Cinema Project. To date, major design work and construction drawings have been completed. Construction will occur in 2005 or 2006 concurrently with the cinema project. ■ Courthouse Square: Plans are underway for restoration of the historic 1910 Courthouse building farade and construction of a new public plaza on the site of the Courthouse Annex. A preferred design concept for the project was selected in July 2004 after completion of conceptual design work, three public meetings, and three joint study sessions among the City Council, Planning Commission, and Architectural Review Committee. Construction is expected to be complete at the end of 2005. • Downtown Special Events: The Agency has funded a series of signature special events in the Project Area including the "Live in Downtown" concert series, the Festival of Lights, the Fourth of July Parade, Victoria Days, the Sea Otter Classic bike race, and events at the Fox Theatre. ■ Broadway lmprovements: The Agency funded a$1.8 million replacement of the sidewalks and street furniture of the downtown Broadway corridor. Repairs and installation were completed in 1998. ■ Storefront Improvemenf Program: This fa�ade rehabilitation assistance program has provided grants to more than 20 businesses and property owners in the Downtown area Keyser Marston Associates, Inc. 18610.0011030-003; 12/6/2004; DRAFT 8