Background
Purpose
The Implementation Plan was established to test the market feasibility of the final development scenario, develop the necessary tools for funding the new development, and establish a public-private process outline for the initiation of the project. Based upon consensus from the community and the input from TLC Advisors, the highest priority and largest impact final development scenario was the Neighborhood Center. Development of the Neighborhood Center accomplishes several of the highest priority goals established by the community throughout the planning process. Stimulating private investment in the Woodhaven area is one of the main priorities of the Implementation Plan along with focusing on funding the necessary improvements through site specific revenue. The public sector must be an active participant in the Implementation Plan to establish and streamline policies that encourage new private investment and lessen the burdens to the taxpayers.
Goals
- Facilitate a public/private partnership that will stimulate additional private investment;
- Encourage new private development in areas with the greatest impact to the Master Plan;
- Utilize and possibly refine existing tools to encourage new investment;
- Generate site specific revenues to fund investment gaps and public improvements;
- Structure a funding mechanism that mitigates the financial risk and exposure of the public partners; and
- Include affordable housing as a component in the Redevelopment Plan.
The Neighborhood Center Concept