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559769v3 JSB EL185-26 <br /> 4 <br /> <br /> A. Promote the redevelopment of property within the Project Area in a manner <br />consistent with the Program and the City comprehensive plan, which property is currently utilized <br />by older housing stock. <br /> <br /> B. Promote the development of the Project Area, including without limitation the <br />implementation of the Program. <br /> <br /> C. Promote the concentration of appropriate residential, commercial and industrial <br />development within the Project area in order to maintain the area in a manner compatible with its <br />prominence in the City. <br /> <br /> D. Construct, acquire or finance any public facilities, including sanitary sewer, water, <br />storm drainage and roads, deemed necessary and desirable by the City and the HRA for the <br />development or redevelopment of the Project Area and the City as whole. <br /> <br /> E. Assist in development or redevelopment through the Program and provision of <br />public services, demolition and relocation, soil and terrain corrections or site improvements, or land <br />acquisition, all in cases deemed appropriate by the City and the HRA. <br /> <br /> F. Employ any powers of the HRA under the HRA Act for the benefit of the Project in <br />such cases and upon such terms as the HRA may deem appropriate. <br /> <br />V. PROJECT AREA <br /> <br /> The Project boundaries are described and depicted in the attached Exhibit A. <br /> <br />VI. PROPERTY ACQUISITION <br /> <br /> The HRA may acquire such property, or interests therein, as the HRA may deem necessary <br />or desirable to carry out the objectives of the Redevelopment Plan. Acquisition may be <br />accomplished by in accordance with the HRA Act. The HRA has no current plans to acquire any <br />property pursuant to the Program Procedures. The HRA reserves the right to acquire property in the <br />Project Area in accordance with its powers under the HRA Act. <br /> <br />VII. REDEVELOPMENT PROJECT FINANCING <br /> <br /> The HRA’s initial financing plans relate to Public Redevelopment Costs in connection with <br />the Program. The HRA plans to finance the Public Redevelopment Costs related to the Program <br />primarily through a property tax levy authorized under the HRA Act. The HRA may also use <br />revenues from any other source available to it to pay any Public Redevelopment Costs. <br /> <br />[Remainder of this page is intentionally left blank.]