Short Term Action items (six months to one year)

Policy

Expand geographical definition of Downtown to embrace and build on the strength of the surrounding neighborhoods. Help to connect and strengthen investments. Define neighborhoods /areas within Downtown. Identify and commit to primary, secondary and tertiary development areas and direct incentives accordingly. Establish and adopt a policy position that all public incentives (exclusive of as-of-right incentives such as Empire Zone and Historic Tax Credits) be leveraged with adequate developer equity contribution. Establish and maintain the incentive policy to make City action predictable for the developer. Develop a project assessment matrix to guide decision-making process. Encourage development of unique and environmentally responsible product.

Implementation

Create a Downtown Housing Development Center (R/UDAT 2001) or comparable program to provide one-stop service on housing delivery (and possibly marketing) Downtown Facilitate the formation of a Downtown Neighborhood Association based on the Good Neighbors Planning Alliance model. Develop and implement urban design standards, encourage mixed use including parking ramp/residential development Convene a Housing Financing Task Force Meet immediately to facilitate request to the congressional delegation for EDI/CDBG money. Letter from Mayor outlining 10 major points. Work with banks and private lending institutions to develop a venture loan fund for Downtown housing Ask Renewal Community businesses to earmark a portion of their tax savings (10%) to a Downtown Development Fund. Use a portion of this fund to help cover the housing “gap.”

Medium Term Action items (one to three years)

Policy

Encourage companies to adopt Employer Assisted Housing programs.

Implementation

Revise zoning code to decrease parking requirements for new Downtown residential development. Develop and implement an Equity Insurance Program designed to guarantee investment/property values in housing.

Long Term Action items (three to five years)

Implementation

Facilitate the development/redevelopment of 1500 housing units in the Downtown area in the next five years and adjust the approach to delivery as needed. (50-100 per year in the Primary Downtown area and 100-200 in the Secondary Downtown area.)

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