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7.0. HRSR 06-27-2001
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7.0. HRSR 06-27-2001
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City Government
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HRSR
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6/27/2001
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�^ef <br /> • Chamber of Commerce participation in helping determine useful ameni- <br /> ties for businesses <br /> • Local downtown business involvement <br /> Once the River Village team has gathered this input a project"program"will be <br /> developed that drives the economic model. The program will include many of <br /> the components already outlined in the Maxfield Research study, which was <br /> recently compiled. Economic drivers such as the following will help determine <br /> the overall economic feasibility to the project: <br /> • Population and household growth trends and predictions <br /> • Age distribution <br /> • Household income <br /> • Rent levels <br /> • Residential housing sales <br /> Based on the economic model financial decisions will be able to be made. It is <br /> the intent of River Village to be a market rate development in all respects. <br /> Following the completion of the economic study we will be able to determine the <br /> level of involvement that may or may not be needed by the HRA or City of Elk <br /> 1111 River to assist in the project financially. <br /> It is the intent of our development team to assemble the land with as little assis- <br /> tance by the city as needed. When assistance is needed we would expect the <br /> IAC <br /> City or HRA to assist in assembling the land. <br /> Following the program, financial feasibility, and land assembly the project can <br /> begin final design and construction efforts. The schedule will be determined by <br /> market conditions and the ability to assemble the land. <br /> i1 <br /> 3? H <br />
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