HomeMy WebLinkAbout5 Year Implementation Plan Supplement
5-YEAR
IMPLEMENTATION PLAN
•Required By California Heath and Safety Code Section 33490
•Five Year Cycle
–2010 through 2014
•Policy Document to implement the Adopted Redevelopment Plans
–Downey Redevelopment Project Area
–Woodruff Project Area
•Provides Specific Goals, Objectives and Actions
–Alleviate Blight
–Further Affordable Housing Obligations
–Policy Statement which can be amended
Projected Revenues
$22 Million over Five Years
•$17.6 Million Agency Obligations and
Activities
$7.6 in New Housing Funds
Issues / Challenges
•$1.7 Million Take Away (2 Years)
•State Of California Budget Shortfall
•Unknown Future Take Away After Year Two
•Continuing to Generate Resources
Prior Accomplishments
•Bobs Big Boy
•Porto’s Bakery
•Fresh & Easy
•Signage and
Façade Program
•Property
Acquisitions
•Public
Improvements
•Downtown Specific
Plan
Agency Objectives (2010-2014)
•Facilitate High Quality Development in
the Project Areas
Strategic Projects, e.g. Portos, Johnie’s
Agency Objectives 2010-2014
•Create a Vibrant and Active Downtown
Downtown Specific Plan
Community Events and Cultural
Programming
Business Improvement District Formation
Marketing and Branding
Agency Objectives 2010-2014
•Invest in Public Improvements in the
Project Area
Nance Avenue Conversion
Leverage other Resources
Agency Objectives 2010-2014
•Support Downey-Based Businesses
Require Good Faith Effort to Use Local
Businesses for Materials and Services
for Agency Supported Projects
Housing Objectives 2010-2014
•Residential Rehab Program
28-30 Loans a Year
•New Housing Development
Verizon Project
Avenue Theater Site
Elm Vista Housing Site
Habitat For Humanity
Projects
•Meet Inclusionary Housing
Obligations
21 Housing Unit Credit /
Surplus