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Action Steps
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Step One
Adopt Plan |
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Step Two
Establish Organizational Structure |
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Step Three
Determine Phase One Target Area |
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Step Four
Prepare Financial Plan & Obtain Commitments |
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Step Five
Acquire Land |
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Step Six
Issue RFP for Developers |
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Step Seven
Complete Pre-Development Tasks |
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Step Eight
Complete Development Tasks |
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Step Nine
Evaluate Results & Begin Phase Two | |
Shown in the Financial Analysis table on page 52 is the magnitude of potential investment necessary for a potential phase one development (as outlined in the Cost Estimates table on page 51). These figures assume approximately 113 units of new construction in the blocks roughly bound by Topeka, Elm, the alley east of St. Francis, and Pine and are used as an example only to present the order of magnitude of funding that may be necessary. A different phase, location, or number of units would not necessarily result in the same costs. It is important to note that although the Financial Analysis shows substantial public involvement, this $2,834,300 investment leverages private investment at a ratio of 4 to 1 over the life of the project. A portion of this public investment can be recaptured if it is structured as low-interest, slow paying or 'soft second' loans.
Next Steps
In order to move redevelopment of the Center City Neighborhood forward, the following action steps should be taken:
Recommend Adoption of Plan to City Council and Other Organizations - C.O.R.E. leadership and other interested groups, such as the Historic Midtown Citizen's Association, should champion this plan and its adoption by the City Council and Via Christi. This action will lay the groundwork for rezoning activities and the preparation of design/development guidelines which will be critical to the creation of a significant new neighborhood. It should also pave the way for reclassification of the Center City Neighborhood as a Local Investment Area or other specially-designated reinvestment area. Even more importantly, adoption by the City and the hospital will indicate their willingness to participate further in the plan implementation - particularly as part of the proposed Development Corporation.