CRA 04/08/2011 Minutes - Laserfiche WebLink

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Community Redevelopment Agency April 8, 2011 Page 3 Mr. Martin said that staff has also discussed a self development option if the Robbin's deal fell through. He said that that the property could be marketed by parcels. Mr. Martin said that staff met with Mr. David Lamb, Lamb Construction, to discuss a strategy on how the City could develop the property in an incremental fashion. A general discussion ensued regarding the stormwater retention in the Community Redevelopment District (CRD) and creation of a master stormwater retention plan for the corridor would help facilitate additional redevelopment. In response to the Board's question regarding projects in the CRA Plan that would provide a direct return in capital, Mr. Martin explained that the CRA Plan Update includes Economic Development Objectives and Policies for low interest loans and incentives for businesses. A general discussion ensued regarding the status of extending the term of the CRA. Mr. Martin stated that there is an interim County Manager which has put the City in a holding pattern. Mr. Martin said he wasn't aware of any formal discussions with the County Commission and the City Commission. In response to the Board's question regarding changing the CRD boundaries, Mr. Martin stated at this time there are no plans to change the boundaries. Mr. Martin reviewed the Project/Program Assessments estimated cost through 2025 (page 46). The Board questioned the amount being estimated for the CRA Administration costs and Mr. Martin stated he would provide a breakdown of that figure to the Board. The Board expressed a concern in the shortfall shown in the Project/Program Assessment. After a brief discussion, Mr. Martin stated that he would add a robust projection and balance the projects to the robust projection. The following changes were made to the CRA Plan Update: 1. 2.1.6 Objective 6 - Creating a "City Center" - Mr. Martin to review the language to allow other types of development on the 15 acre parcel. 2. 7.0 Resource Allocation -last part of the Third Paragraph -Add language for the extension of the CRA term - (the need for economic development after the flyover project) 3. Correction to Page 38 -Add affordable housing reference back into CRA Plan 4. Page 46 - Maintain a conservative projection and add a robust projection that explains what we anticipate in terms of investment in the corridor and balance the projects to the robust projection.