2019.04.03 EDC Packet - Laserfiche WebLink

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will acquire property if it believes there is a likelihood that the property can be reused in the foreseeable future and if the City can identify sources of revenue to pay for such property. Generally, the City will enter into a contract with the private sector for the reuse of the property. However, there may be parcels that are so important to a proposed redevelopment or reuse that the City may find it difficult or impractical to enter into any contract without first owning or having control of the parcel, either through negotiation or by use of eminent domain. The City may also acquire, from willing sellers or by use of eminent domain, parcels as part of a long -term redevelopment effort. In such instances, the acquisition should meet a stated Program goal or objective, revenues should have been identified to pay for them and the parcels should be held only until sufficient parcels have been acquired to allow Program goals and objective to be implemented. Subsection 1.12. Boundaries The boundaries of the Project Area are described on Exhibit I-A and illustrated on Exhibit 1-8. (AS MODIFIED APRIL 23, 2019) Boundaries of Development District No. 1 are being expanded to be coterminous with the corporate boundaries of the City (See Map in Appendix A). Subsection 1.13. Parcels to be Acquired The City may acquire any of the parcels described on Exhibit I-A by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of the Program. (AS MODIFIED APRIL 23, 2019) The City intends to acquire such property, or appropriate interest therein, within Development District No. 1 as the City may deem to be necessary or desirable to assist in the implementation of the Development Program.