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� - <br /> Benefits <br /> • New development in the designated downtown redevelopment area; <br /> • Adds 85 daytime employees to the northern downtown area, thereby stimulating additional demand <br /> for retail, restaurants and services; <br /> • Improves the aesthetic quality of the downtown area and establishes the standard for future <br /> development; <br /> • Creates opportunities for new retail and restaurant development in the downtown; and <br /> • Solidifies downtown's position as the financial center of the metropolitan area. <br /> Recommendation <br /> The proposed project represents several years of investment and careful planning by the City to craft a <br /> redevelopment project that will set the standard for redevelopment of the downtown. The proposed project <br /> meets the economic, aesthetic and employment goals established for the Olde Towne TIF Redevelopment <br /> Area. In addition, the project will have a significant impact on the ability to develop other areas of downtown <br /> Decatu r. <br /> The economic benefit of this project is positive and will drastically enhance the redevelopment of <br /> downtown. City staff recommends that it be approved by the City Council at the November 1, 2010 <br /> meeting. <br />