Item 4 - Ordinance on Downtown Urban Renewal Plan Amendments

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Attachment H Updated Timeline for the West Broadway Redevelopment Project URA Selects KWG & Beam th May 14 Define Financing Strategy Additional Public Participation May West Broadway Advisory Committee formed Amend Downtown Urban Renewal Plan Section 108/BEDI st By June 1 (130 days) Consultant(s) Hired URA Initial OK June th May 29 th WBAC meetings: June 27 Additional Public Input Process ththth , 18, 25 July 11 June - July ththth , 15, 29 August 8 Public Hearing Public Hearing Public Workshops: thth July 16July16 thnd August 4 & 22 CC Resolution rd July 23 CC Ordinance Committee/Consultant Report completed th August 13 st By August 31 HUD Approval (30 days) By September URA Final Project Approval & CC/URA Budget Authority September Renew Option on #10 ($2,000) Sign Purchase and Sale Agreement & Finalize Section 108/BEDI Funds Renew Option on #8 ($4,000 & price increase $70,000) September th By September 15 Renew Option on #5 & #7 ($4,000 & price increase $100,000) th By September 19 Purchase/Assign#6 ($625,000) th By September 25 Project Planning October 2007 – October 2008 Purchase/Assign #9 ($1,750,000) th By October 19 Purchase/Assign #11 ($2,800,000), #12 ($1,900,000), & #15 ($3,150,000) Permitting th By October 26 October 2008 to January 2009 Purchase/Assign #4 ($1,980,000) th Construction By November 17 January 2008 – January 2010 Purchase/Assign#8 ($900,000) URA Authorization to Issue Revenue Bonds By March 15, 2008 2010 Renew Option #3 ($12,000) URA Purchases Public Parking Garage March 19, 2008 FY10 Purchase/Assign # 10 ($1,200,000) By September 15, 2008 Purchase/Assign #5 & #7 ($1,550,000) By September 19, 2008 Purchase/Assign #3 ($2,191,140) By March 19, 2009 Purchase Remaining Necessary Property (not currently under option)