7231-03
ORDINANCE NO. 7231-03
AN ORDINANCE OF THE CITY OF CLEARWATER, FLORIDA,
AMENDING THE CLEARWATER DOWNTOWN REDEVELOPMENT
PLAN PREVIOUSLY ADOPTED AND AMENDED BY ORDINANCE NO.
7153-03 IN ORDER TO AMEND CHAPTER 3 LAND USE
PLAN/REDEVELOPMENT PLAN REGARDING THE ATTRACTION
AND DEVELOPMENT OF A RETAIL/ENTERTAINMENT COMPLEX;
TO AMEND DOWNTOWN STRATEGIES. THE CAPITAL
IMPROVEMENT PLAN AND THE TAX INCREMENT REVENUE
PROJECTIONS SECTIONS OF CHAPTER 4 PLAN IMPLEMENTATION
ASSOCIATED WITH THE PLAN; PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater has the authority pursuant to Rules Governing the
Administration of the Countywide Future Land Use Plan, as amended, Section 2.3.3.8.5, to adopt
and enforce a specific plan for redevelopment in an urban center in accordance with the Central
Business District plan category, and said Section requires that a special area plan therefore be
approved by the local government; and
WHEREAS, the City Commission approved the 1995 Clearwater Downtown Redevelopment
Plan on August 17, 1995 and the Downtown Periphery Plan update on April 19, 2001; and
WHEREAS, the City Commission approved the updated 2003 Clearwater Downtown
Redevelopment Plan on September 18, 2003 by adopting Ordinance No. 7153-03; and
WHEREAS, the requirements of Florida Statutes Section 163.360 regarding the adoption of
community redevelopment plans have been met regarding that portion of the amendments
proposed hereby which affect the Downtown Community Redevelopment Area, and the
requirements of Florida Statutes Section 163.346 regarding notice to taxing authorities and other
required notice, as well as all other requirements of Florida Statutes Chapter 163, have been met;
and
WHEREAS, the Pinellas County Board of County Commissioners reviewed the Plan
adopted by Ordinance No. 7153-03 on October 21, 2003 and recommended that certain
amendments to the Ordinance be made regarding the use of tax increment financing by the City of
Clearwater); and
WHEREAS, it is advisable to add certain provisions to the Plan regarding attraction and
development of a retail/entertainment complex, and to amend downtown strategies; and
WHEREAS, the Community Redevelopment Agency has reviewed the proposed
amendments and recommends them to the City Commission, and the amended Plan shall serve as
the Community Redevelopment Plan for the downtown Community Redevelopment Area of the City
of Clearwater; and
WHEREAS, the proposed amendments were reviewed by the Community Development
Board, which is the land planning agency for the City of Clearwater for purposes of the Local
Government Comprehensive Planning and Land Development Regulation Act, and the Community
Ordinance No. 7231-03
Development Board found the proposed amendments to be consistent with the Comprehensive
Plan of the City of Clearwater; and
WHEREAS, Resolution No. 95-65 was adopted on August 8, 2002 which declared the area
generally east of the Redevelopment District as containing slum and blighted conditions and
detrimental to the sound growth of the area; and
WHEREAS, the proposed amendments conforms to the general plan of the City of
Clearwater as a whole; and
WHEREAS, the proposed amendments will afford maximum opportunity, consistent with the
sound needs of the City as a whole, for the rehabilitation or redevelopment of the Plan area by
private enterprise; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF
CLEARWATER, FLORIDA:
Section 1. The amendments to the Clearwater Downtown Redevelopment Plan
attached hereto as Exhibit "A" are hereby adopted.
Section 2. The City Manager or designee shall forward said amendments to any agency
required by law or rule to review or approve same.
Section 3. This ordinance shall take effect immediately upon adoption, subject to the
approval by the Pine lias County Board of County Commissioners and the Countywide Planning
Authority.
PASSED ON FIRST READING
November 20,2003
PASSED ON SECOND AND FINAL
READING AND ADOPTED
December 4, 2003
Approved as to form:
Attest:
Leslie K. Dougall-Si es
Assistant City Attorn
-~
2
Ordinance No. 7231-03
EXHIBIT A
Ordinance No. 7231-03
AMENDMENT 1 - CHAPTER 3 LAND USEIREDEVELOPMENT PLAN
GOALS, OBJECTIVES AND POLICIES SECTION
Insert new Policy 23 on Page 53 of the Plan and renumber the remaining Policies.
Policy 23: The City shall evaluate the need, size and location for a parking garagc(s) to
support entertainment, retail and/or restaurant uses. The City may suppOli the
development of these uses through the construction of a garage, participation
in a public/private partnership to build a garage or contributions to assist in
the construction of a garage.
AMENDMENT 2 - CHAPTER 3 LAND USEIREDEVELOPMENT PLAN
DOWNTOWN CHARACTER DISTRICTS SECTION -
TOWN LAKE BUSINESS PARK DISTRICT
Amend District Vision - Use Subsection on Page 72 of the Plan asfollows:
Use
The Town Lake Business Park District is envisioned to be a Downtown location for
office park development. The District should be redeveloped with corporate and
professional offices, as well as those conducting research and/or light assembly.
Incidental support commercial uses are anticipated to serve the offices in the District.
Residential redevelopment may be considered in limited locations along streets or if a
minimum of four acres of land is assembled. Residential development or entertainment
with supporting retail/restaurant uses may be considered in limited locations along maior
streets and if an entire block is assembled for the redevelopment proiect.
* * * *
AMENDMENT 3 - CHAPTER 4 PLAN IMPLEMENTATION
DOWNTOWN STRATEGIES SECTION
Insert new Strategy 20 on page 146 asfollows and renumber the remaining strategies:
(this strategy is to be located as a new item within the Downtown Strategies and before
the beginning of Downtown Core Character District Strategies)
****
Strategy 20: Market the Downtown as a location for a movie theater and assist the
developer, as needed, in the acquisition and assembly of land for either the
theater and/or parking facilities, and/or development of parking facilities to
support the use.
* * * *
1
Exhibit A - Ordinance No. 7231-03
AMENDMENT 4 - CHAPTER 4 PLAN IMPLEMENT A TION
DOWNTOWN STRATEGIES SECTION
Insert new Strategy 20 in Table 7 Summary of Public Strategies on page 149 and
renumber the remaining strategies as follows: (This strategy is to be located before the
beginning of Downtown Core Character District Strategies)
Table 7 Summary of Public Strategies
# Strate~ Lead Department Timing
20 Movie Theater Marketing Economic Development Ongoing Strategy
AMENDMENT 5 - CHAPTER 4 PLAN IMPLEMENTATION
CAPTIAL IMPROVEMENT PLAN (CIP) SECTION
Amend Capital Improvement Plan (CIP) Section (including Tables 8 and 9) starting on
page 152 of the Plan asfollows:
CAPIT AL IMPROVEMENT PLAN (CIP)
To implement the Downtown Plan, the City is committed to investing in the Downtown.
Below are a variety of significant Capital Improvement Projects, short- to long-term in
nature, addressing streetscape, road improvements, public uses, utilities and parks (Map
12, page 157). The costs of projects identified range between $111 million to $118
million $157 million to $161 million.
This Capital Improvement Plan was based on several assumptions: the cost for each
capital proiect is based on the best estimate available during development of this plan; all
costs are shown in 2003 dollars; proiect scope and funding sources may vary as
determined during specific proiect budget and planning phase; Penny for Pinellas funding
is assumed to be extended and will be based on the City's priorities as determined at time
of extension. Revisions to the Downtown Capitallmprovement Plan may be made by the
City Commission during their annual budget process and all changes shall be reflected in
the City's adopted Annual Operating and Capital Improvement Budget. All changes
shall be consistent with the goals, obiectives and policies of this Plan.
2
Exhibit A - Ordinance No. 7231-03
e eve opmen ro.l ec s
Project Name FY Location Existing/Potential Cost
Fundin2 Source
Wayfinding Sign 2003/2004 S.R. 60 & Highland CDBG*, TIF**, $750,000
Package A venue intersection General Fund
directing traffic to
Downtown; Court &
Chestnut Streets at their
intersections with
Missouri, Myrtle,
Osceola & Fort Harrison
A venues; Drew Street at
its intersection with
Missouri, Fort Harrison,
Osceola & Myrtle
Avenues
Fort Harrison 2003/2004 The entire length of Fort FDOT* * * $8.6M
A venue/Alternate Harrison A venue within
U.S. Highway 19 Clearwater
Resurfacing
Pump Station 2003/2004 South side of the west Water and Sewer $698,500
#16 end of Pierce Street Bond
Pump station # 12 2003/2004 900 North Osceola Water and Sewer $186,000
A venue (in front of Bond
Clearwater Bay Marina).
Cleveland Street 2004 - Between Osceola and Penny for Pinellas, $3.7M
Streetscape 2006 Myrtle A venues TIF and Private
Intersection 2004/2005 Based on traffic study Gas Tax and $1M
Improvements after bridge opens Transportation
Impact Fees
Myrtle Avenue 200412005 Myrtle A venue between Stormwater Utility $12M
Reconstruction North Fort Harrison TIF $1M
and Avenue & Lakeview
Streetscape Road (including
storm water outfall from
Town Lake to Clearwater
Harbor)
Station Square 2005/2006 The north side of Private and TIF $1M
Park Cleveland Street between
Redevelopment East & Garden A venues
Clearwater 2004/2005 Turner Street to Oak Pinellas County, $1.2M
Beach Connector A venue to beach (2,000 Penny for Pinellas, (includes
Spur (Pinellas feet within Downtown) CMAQ**** entire
Trail) proi ect)
Table 8
R d t P . t /CIP
3
Exhibit A - Ordinance No. 7231-03
e eve opmen rOJec s
Gulf to Bay 2004 - Gulf to Bay Boulevard & FDOT (for paving $1.SM
Boulevard and 2006 Highland Avenue only), TIF and
Highland Avenue Intersection CDBG, Penny for
Gateway Pinellas
Intersection
Improvement
Fort Harrison 2004 - Drew Street to Private, Pinellas $3.7M
Avenue 2006 Court/Chestnut Streets County, Grants and
Streetscape TIF
Glen Oaks Park 2004/200S Immediately south of the Stormwater Utility, $4.3M
Stormwater Downtown area at the SWFWMD
Retention intersection of Court
Facility Street & Betty Lane
Memorial 2004 - Chestnut Street to the FDOT, Grant and $SOO,OOO
Causeway Bridge 2006 east end of the Memorial Special
Landscaping Causeway Bridge Development Fund
Cleveland Street 200S Between Fredrica & FDOT $870,000
and Gulf to Bay Highland A venues
Boulevard
Repaving
Cleveland Street 200S Between Island Way & FDOT $960,000
& Memorial Fort Harrison A venue
Causeway
Repaving
Main Fire Station 200S12006 Originally planned to Penny for Pinellas $4.6M
rebuild on existing site.
Currently reviewing
available property on the
S. Fort Harrison A venue
corridor between Court
Street & Lakeview Road
Osceola A venue 200S - East side of North Parking fund~ .and $+-1-
Garage (+W-- 2007 Osceola A venue between Private, TIF and ~S.S
-l-,GOO- illm:. 37 S - Drew &-bam:a Cleveland Bonds -7.SM
SOO spaces) Streets (in the area of the
***** A l\.,r (., ,1.' ....
Redevelopment 200S - To be determined based Parking fund, $S.S -
Garage ( app. 2010 on location of maior Private. TIF and 7.SM
37S - SOO entertainment and/or Bonds
-
spaces) (*****) restaurant/retail
proi ect( s)
Table 8, cont'd
R d I t P . t /CIP
4
Exhibit A - Ordinance No. 7231-03
e eve opmen rO.lec s
Reuse of 200612007 Current site of Penny for Pinellas, TBD
Existing Main Downtown Main Fire TIF and Grant
Fire Station Station
Coachman Park 2005 - Coachman Park - Park portion: $14.5M
Redevelopment 2008 expanded to include the General Fund,
($7.5M) and 450 existing park site and the Private, Penny for
space Garage area on the south side of Pinellas and TIF
($7M) Cleveland Street
Garage portion:
Private, Parking
System and TIF
Downtown 200612007 Coachman Park on the Revenue Bond, $5M
Marina north and south sides of Private and TIF
the bridge
Pinellas Trail 2006/2007 East A venue between Grants and Penny $3M
and East Avenue Drew Street & Druid for Pinellas
widening Road
New City Hall 2006/2007 Vacant site to the south Sale revenue from $13.5M
and associated of the MSB along Pierce existing site and
parking Street between South Bonds
Myrtle & East Avenues
Osceola Avenue 2005 - Osceola between Drew & Private, Pinellas $3M
Streetscape 2010 Court County and TIF
Cleveland Street 2007 - Between Highland & TIF, Private and $8.6M
and Gulf to Bay 2015 Myrtle A venues CDBG
Boulevard
Streetscape
Commercial 2010+ Per Master Streetscape TIF, Bond, Private m
Streets "A" and Plan and Penny for $5M
"B" Pinellas
Court/Chestnut 2010+ Per Master Streetscape TIF, Private, Bond m
Beach Corridors Plan (from bridge to SR and Penny for $5M
Streetscape 60 & Highland A venue Pinellas
intersection
Beach to Bluff 2010+ Along the Memorial Federal Grant, $40M
Guideway Bridge between the Private, FDOT,
Downtown and the Federal Transit
Marina area of the Beach Authority
Table 8, cont'd
R d I t P . t /CIP
5
Exhibit A - Ordinance No. 7231-03
Table 8, cont'd
Redevelopment Pro.iects/CIP
New PSTA 2010+ Existing PSTA Site at the PSTA, Penny for
Multi-modal SW comer of Pierce Pinellas, Pinellas
transportation Street and Garden County, Parking
center Avenue Fund, TIF
* Community Development Block Grant;
** Tax Increment Financing;
*** Florida Department of Transportation;
****Congestion Mitigation and Air Quality Improvement:i
***** The specific size of the two garages will be determined at the time of proiect
planning based on redevelopment activity and intensities; the sizes of the two
garages may vary from the sizes stated to accommodate the parking demand UP to
a maximum of $15 million combined cost for the two garages.
+lID
$3M.
City
Share
6
Exhibit A - Ordinance No. 7231-03
Rd
Table 9
t P . t /CIP A
fP . t
e eve opmen ro.l ec s rrange 'Y ype 0 rO.lec
Pro.ieet Name FY Cost
Street Repaving/Resurfacing (total $23.43 M)
Fort Harrison Avenue/Alt. U.S. Highway 19 Resurfacing (FDOT) * 2003/2004 $8.6M
Myrtle A venue Reconstruction * and Streetscape 2005 W13M
Cleveland Street and Gulf to Bay Boulevard Repaving (FDOT) * 2005 $870,000
Cleveland Street & Memorial Causeway Repaving (FDOT) * 2005 $960,000
Intersection Improvements * 2004/2005 $IM
Utilities and Infrastructure (total $16. 184M - $20.184 M)
Osceola Avenue (750 1,000 375 - 500 spaces) 2005 - 2007 $11 15 5.5
-7.5M
Redevelopment Garage (375 - 500 spaces) 2005 - 2010 $5.5 -7.5M
Pump Station #16* 2003/2004 $698,500
Pump Station # 12 * 200312004 $186,000
Glen Oaks Park Stormwater Retention Facility* 200412005 $4.3M
Streets cape Improvements/Landscaping (total $ 31. 75M **)
Wayfinding Sign Package 200312004 $750,000
Gulf to Bay Boulevard and Highland A venue Gateway Intersection 2004 - 2006 $1.5M
Improvement
Fort Harrison Avenue Streetscape 2004 - 2006 $3.7M
Memorial Causeway Bridge Landscaping 2004 - 2006 $500,000
Cleveland Street.Streetscape Funding available upon approval of revised 2004 - 2006 $3.7M
Penny for Pinel/as list during FY 03/04 Budget approval process
Osceola A venue Streetscape 2005 - 2010 $3M
Cleveland Street and Gulf to Bay Boulevard Streetscape 2007 - 2015 $8.6M
Commercial Streets "A" and "B"* 2010+ TBD** $5M
Court/Chestnut Streets Beach Corridors Streetscape* 2010+ TBD** $5M
Parks and Recreation Facilities (total $24.7 M)
Clearwater Beach Connector Spur (Pinellas Trail)* 2004/2005 $1.2M
(includes
entire proj ect)
Coachman Park Redevelopment ($7.5M) and 450 space Garage ($7M) 2005 -2008 $14.5M
Downtown Marina 2006/2007 $5M
Station Square Park Redevelopment 2005/2006 $lM
Pinellas Trail and East A venue widening 2006/2007 $3M
Public Uses (total $61.1 M**)
New City Hall and Associated Parking 200612007 $13.5M
Main Fire Station* 2005/2006 $4.6M
Reuse of Existing Main Fire Station 2006/2007 TBD**
Beach to Bluff Guideway 2010+ $40M
New PST A Multi-modal transportation center 2010+ TBD**$3M
*
**
db T
Funding approved in adopted elP or awarded grant
Total does not include those projects the costs of which are to be determined at a future
date
7
Exhibit A - Ordinance No. 7231-03
AMENDMENT 6 - CHAPTER 4 PLAN IMPLEMENT A TION
CAPTIAL IMPROVEMENT PLAN (CIP) SECTION
Amend Capital Improvement Plan (CIP) Section, Capital Project Descriptions
subsection on Page 162 by revising the Osceola A venue Parking Garage description
and by inserting a project description for Redevelopment Garage following the Osceola
Avenue Parking garage asfollows:
*****
Osceola Avenue Parkin!!: Gara!!:e (750 1000 375 500 spaces):
Due to the strategic location of this prime redevelopment site "Superblock", a
public/private partnership may enable the construction of a major Downtown parking
garage to service the block's redevelopment potential, and the redevelopment activities
which might occur on the parcels lying west of Osceola Avenue. This parking garage
will also provide additional parking for the new Main
Library, currently under construction
Redevelopment Gara!!:e (375 - 500 spaces):
As maior redevelopment occurs, it is anticipated that one or more maior entertainment
and restaurant mixed use proiect(s) will be developed Downtown. Due to the high
parking demand of these types of uses, this garage would be sited and constructed to
support the ente11ainment activity. The specific location of the garage will be determined
based on the location of the entertainment proiect(s) and will provide parking for it and
other planned/approved downtown redevelopment proiects.
* * * *
AMENDMENT 7 - CHAPTER 4 PLAN IMPLEMENT A TION
TAX INCREMENT REVENUE PROJECTIONS SECTION
Amend Tax Increment Revenue Section of Plan on page 183. The amendments are
located prior to the "Tax Increment Revenue Projections for the Original CRA
District" subsection of the Plan and are asfollows:
Tax Increment Revenue Projections
Based on this overview, it is evident that the eRA has the potential for developing
several million square feet of development over the next two decades, including the
attraction of up to 1,000 new urban housing units in the next five to ten years in the
downtown core which will act as a catalyst for a substantial amount of new office use,
retail and entertainment establishments. If all of the projects described above are
realized, the increase in the tax roll could be upwards of $390 million.
8
Exhibit A ~ Ordinance No. 7231-03
However, while opportunities are outstanding, it is the intent of the CRA to proceed
forward cautiously with our TIF projections. The TIF projections are calculated
separately for the original eRA and the expanded CRA because the base years for the
property values are different.
The CRA envisions continuing to use both the City's and the County's share of Tax
Increment Financing dollars for capital projects in the original and expanded CRA. TIF
is identified as one of the funding sources for several capital and infrastructure
improvement projects outlined in the Capital Improvement Projects (CIP) section of this
plan. These projects include the Cleveland Street, Fort Harrison, and Gulf to Bay
Streetscapes and the Gulf to Bay Boulevard and Highland A venue Gateway Intersection.
In addition, TIF will be used for paying impact fees, "buying in" of public parking in
private projects, assembling redevelopment sites, purchasing land and/or buildings,
affordable and transitional housing proiects, and fa<;ade improvement grants. Below is a
summary of the programs and initiatives that will use TIF as well as the estimated costs
associated with each. The County's share of TIF shall only be used for the capital
Droiects included in the table below. The City's share of TIF may be used for any
initiative listed in the table.
Summary Table of eRA Prol!:rams and Initiatives. Timinl!:. and Estimated Costs
CRA Area Brownfields Environmental Cleanup *
CRA Building Facade Improvement Program*
Downtown Land Acquisition *
CRA Redevelopment Incentive Funding
Stein Mart Lease Buyout
CRA Affordable and Transitional Housing Proiects*
eRA Revolvin Loan Fund
Ongoing
Ongoing
Ongoing
Ongoing
2004-2009
$5.000.000
$1.000.000
$'"' 1.000.000
$10.000,000
$5.000.000
$5.000.000
$1 0
Ongoing
*Capital proiects and initiatives - County TIF shall only be used for these programs
CRA Area Brownfields Environmental Cleanup Proiects
Due to the limited availability of state and federal environmental cleanup funds, TIF
dollars will be required for environmental remediation for multiple proiects, particularly
those that have a history of petroleum contamination. A case in point is the Clearwater
Auto Salvag.e Yard that is being acquired by the City, as well as a number of sites lying
adiacent to the CGI (formerly IMRglobal) Campus west of Missouri.
Proiect Cost: $5.0 million
Time Frame: Ongoing
9
Exhibit A - Ordinance No. 7231-03
CRA Buildine: Facade Improvement Proe:ram
This is an ongoing program funded by the CRA in concert with our Main Street Program.
The Facade Improvement Program provides grants and loans to eligible business property
owners and tenants who wish to upgrade their exterior building facades.
Project Cost: $1.0 million
Time Frame: Ongoing
Downtown Land Acquisition
A critical function of the CRA is to assemble property for resale and redevelopment by
the private sector. The principal purpose of property assembly is to assist in eliminating
the slum and blight conditions that exist within the CRA by facilitating private
redevelopment of these under-performing sites. This program enables the CRA to
assemble, purchase and option property and structures within the CRA for redevelopment
purposes consistent with this Plan.
Examples of property acquisitions anticipated by this program include but are not limited
to: acquiring property in the Town Lake Business Park Character District to facilitate the
development of a suburban office campus: acquiring property in the East Gateway
Character District to eliminate the problematic uses and/or contaminated sites, to improve
the substandard housing conditions and to consolidate obsolescent and/or sites undersized
as compared to current zoning requirements to allow commercial redevelopment:
acquiring property within the Downtown to assist in the development of a maior
entertainment attraction including a movie theater, entertainment, retail and/or restaurant
uses. Other property acquisitions that implement the goals, objectives and policies of this
Plan may be achieved through the use of this CRA program.
Total Cost:
Time Frame:
$21.0 million
Ongoing
CRA Redevelopment Incentive Fundine:
Historically, the CRA has utilized TIF revenues to assist redevelopment efforts in a
variety of ways, such as: landscape and streetscape improvements, property acquisition,
construction of public parking garages, payment of project permit and impact fees,
payment of project utility connection and stormwater fees, parking incentives to retain
downtown businesses, subsidy to the Jolley Trolley operations and the facade
improvement program.
Downtown redevelopment is generally considered to be more expensive and risky in an
unproven market than development in other areas of a city and especially when compared
to development in greenfields. This situation currently exists in Downtown Clearwater as
demonstrated by the lack of substantial new private redevelopment with few exceptions.
10
Exhibit A - Ordinance No. 7231-03
The lack of investment in Downtown has resulted in the poor economic health of
Downtown to which the Citv is res1-10nding with this Plan. This program will provide
financial incentives to developers to offset the high land, development and construction
costs within the Downtown and to encourage investment in Downtown that will revitalize
the center city with people, employees, businesses and activities. The types of incentives
contemplated by this program include, but are not limited to: payment of proiect permit
and impact fees; payment of proiect utility connection and storm water fees; parking and
other financial incentives to retain and attract downtown businesses; and contributions for
parking facilities.
Total Cost: $10.0 million
Time Frame: Ongoing
Stein Mart Lease Buyout
A key to the successful redevelopment of the downtown waterfront is the eventual
development of a maior retail/commerciallentertainment/hotel proiect at the site now
occupied by the Harborview Center.
To effectuate this redevelopment. it may be necessary for the city to terminate its lease
with the 54,000 square foot Stein Mart department store that is currently a tenant.
Total Cost: $5.0 million
Time Frame: 2004 - 2009
eRA Affordable and Transitional Housine; Proiects
The development of one or more mixed-income housing proiects within the CRA has
been identified as a necessary strategy due to the need to retain affordable housing
options in this environment. Typically, the CRA would leverage its position in a public-
private patinership by contributing funds to effectuate the lower income criteria in a new
proiect.
A maior component of the rehabilitation of the CRA Expansion Area and the need for
affordable housing is the redevelopment of the Clearwater Homeless Intervention Proiect
(CHIP) site into a "transitional" and "permanent" housing campus. The campus concept
for CHIP would entail assembling property between Park Street, the Stevenson Creek
channel. Evergreen A venue, and Cleveland Street into a self-contained and secure
campus.
TIF funding would be used to assist in the purchase of properties, while other state and
federal funds would be used for housing construction and operations.
11
Exhibit A - Ordinance No. 7231-03
Total Cost: $5.0 million
Time Frame: Ongoing
eRA Revolvine Loan Fund
A key component of our future redevelopment strategy for the downtown is the
implementation of a public-private revolving loan program with local financial
institutions. Modeled after successful programs in other cities, a ioint pool would be
established and loans provided for expanding businesses, building improvements,
relocation costs, etc. The CRA would provide seed capital to the pooL along with private
capital from the banks.
Total Cost: $1.0 million
Time Frame: Ongoing
* * * *
12
Exhibit A - Ordinance No. 7231-03