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• CHALLENGES AND OPPORTUNITIES IN THE CENTRAL <br /> BUSINESS DISTRICT <br /> I. THE VALUE OF A VIBRANT CBD <br /> • Traditionally,the CBD is the heart of: <br /> • Financial <br /> • Government <br /> • Entertainment <br /> • Hospitality <br /> • Legal <br /> • Medical <br /> • Services <br /> • Retail <br /> • The CBD is a barometer of a community's health. <br /> II. INVESTMENT/REINVESTMENT IN THE CBD <br /> • • Reinvestment likely requires extraordinary costs not found <br /> elsewhere (demolition, site prep, undersized utilities, etc.) <br /> • Without available incentives, investment will locate elsewhere <br /> III. CHALLENGES/OBSTACLES TO CBD INCENTIVES <br /> • TIF law; i.e. narrow definition of blight, state aid losses, etc. <br /> • Limited or finite pool of funds (public and private). <br /> IV. ROLE OF CITY/HRA/EDA <br /> A. Facilitate <br /> • Act as a conduit for development or redevelopment <br /> 0 Create TIF Districts; provide TIF grants for <br /> extraordinary costs, etc. <br /> 0 Assemble land in anticipation of redevelopment <br /> 0 Willingness to absorb some redevelopment costs to <br /> ensure investment in the CBD occurs. <br /> 0 <br />