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<br />. <br /> <br />. <br /> <br />. <br /> <br />Facts in Support of the Findinq <br /> <br />This project alternative would have the same potential <br />environmental impacts as the proposed Redevelopment Plan Amendment <br />because the same public improvement and private development <br />projects could be constructed with or without the Plan Amendment. <br />This alternative may have more impacts than the proposed Plan <br />Amendment because the Redevelopment Plan Amendment could provide <br />additional financial incentives that could allow existing <br />businesses to upgrade and improve dilapidated buildings, reducing <br />existing blighted and economically depressed conditions. <br />Although the Agency can construct public improvements and assist <br />private development with building upgrades and development <br />currently with the existing Redevelopment Plan, the needed revenues <br />to accomplish these tasks are not presently available from the <br />Agency. Therefore, the Plan Amendment is needed to provide <br />additional revenues by the Agency to assist the City in improving <br />the physical and economic climate of the Project Area. This <br />alternative would also preclude the Agency from providing <br />additional assistance towards providing more low and moderate <br />income housing in the City. <br /> <br />Alternative Financing <br /> <br />Findinq <br /> <br />Finding 3: <br /> <br />Specific economic, social or other considerations <br />make infeasible the mitigation measures or project <br />alternatives identified in the EIR. <br /> <br />Facts in Support of the Findinq <br /> <br />This project alternative would have similar environmental impacts <br />as the proposed Redevelot1l!lent Plan Amendment. If alternative <br />sources of financing are secured so that the same public <br />improvement and private development projects are constructed as <br />could occur with the Plan Amendment, the environmental impacts <br />would be the same. However, this al ternati ve could be an <br />environmentally inferior project if alternative financing sources <br />are not available to construct needed public improvements and <br />assist businesses in upgrading existing dilapidated and <br />deteriorating buildings. This alternative would allow business <br />expansion and relocation assistance only as financing sources are <br />located and funds become available. The availability of funds <br />could be dependent upon the source, the marketability of revenue <br />bonds and whether or not local, state of federal agencies have <br />funds available for use by the Agency. Other methods of financing <br />include the set up of an infrastructure financing district or tax <br />revenue which mayor may not be able to be accomplished and <br />implemented. <br /> <br />16 <br />