MAJOR REDEVELOPMENT OBJECTIVES

 Facilitate the physical improvement and/or rehabilitation of existing structures and façades within the proposed RPA, and encourage the construction of new commercial, residential, civic/cultural and recreational development, where appropriate

 Foster the replacement, repair, construction and/or improvement of public infrastructure whereneeded, including public utilities, public park and recreational facilities, sidewalks, streets, curbs, gutters, underground water and sanitary systems, and stormwater detention of adequate capacity to create an environment conducive to private investment

 Facilitate the renovation or construction of stormwater management systems and flood control within the proposed RPA

 Provide resources for streetscaping, landscaping and signage to improve the image, attractiveness and accessibility of the proposed RPA, create a cohesive identity for the RPA and surrounding area, and provide, where appropriate, for buffering between different land uses and screening of unattractive service facilities such as parking lots and loading areas

 Facilitate the assembly and preparation, including demolition and environmental clean-up, where necessary, and marketing of available sites in the proposed RPA for redevelopment and new development by providing resources as allowed by the Act

 Support the goals and objectives of other overlapping plans, including the Village’s 2009 Comprehensive Plan as well as existing, pending, and subsequent amendments to the 2009 Comprehensive Plan, and coordinate available federal, state and local resources to furtherthe goals of this Redevelopment Plan and Project

Proposed Budget

EligibleExpense $500,000

AdministrationandProfessionalServiceCosts

SiteMarketingCosts

PropertyAssemblyandSitePreparationCosts $12,500,000

CostsofBuildingRehabilitation

CostsofConstructionofPublicWorksorImprovements

CostsofJobTrainingorRetraining(Businesses)

FinancingCosts

TaxingDistrictCapitalCosts

PaymentsinLieuofTaxes $100,000

CostsofJobTraining(CommunityCollege) $100,000

TOTALREDEVELOPMENTPROJECTCOSTS

InterestCosts(DeveloperorPropertyOwner) $75,000,000