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would not be subject to investment without the assistance provided by the City pursuant to its <br /> Home Rule powers and the Act. <br /> Absent participation and assistance by the Town, private investment will not take place in the <br /> Redevelopment Area as a whole. The incidence of blighting factors is likely to increase, and <br /> the health, safety, and welfare of the public will be impaired. The long term best interests of <br /> local taxing bodies will be best served by the adoption of this Plan. <br /> The objectives of the Redevelopment Plan are: <br /> 1. Reduce or eliminate those conditions which qualify the Area as eligible for t� increment <br /> financing by carrying out the Redevelopment Plan. <br /> 2. Prevent the recurrence of blighting conditions by actions outlined herein. <br /> 3. Enhance the real estate t� base for the City and all other taxuig districts wluch extend into the <br /> Area through the implementation and completion of the activities identified herein. <br /> 4. Encourage and assist private investment and redevelopinent within the Area through the <br /> provision of fmancial assistance for new development as pemutted by the Act. <br /> 5. Improve the overall environment of the Area including public safety and security measures so <br /> as to encourage new investment wherever possible in the surrounding neighborhood. <br /> 6. Provide for safe and efFicient traffic circulation, facilitate effective emergency response time <br /> and accessibility, and general access within the Redevelopment Area. <br /> 7. Complete all public and private actions required in the Redevelopment Plan in an expeditious <br /> manner. <br /> The City has considered alternative means of financing the necessary public unprovement program, as <br /> well as providing financial incentives for private invest�nent within the Area. It was determined that <br /> ta�{ increment financing constitutes the most effective means available for enabling the development of <br /> the Area to proceed. <br /> L Private Redevelopment Activities: <br />� New construction of commercial retail facilities will serve the needs of the general <br /> community surrounding the Area. <br /> 2. Public Redevelopment Activities: <br /> No major public improvements are anticipated for the Area; however, public <br /> assistance for the categories set forth in the Project Budget is anticipated to be <br />� needed in order to allow the private redevelopment activities to occur. <br /> The estimated costs associated with the eligible public redevelopment activities is <br /> approximately $5,240,575. This estimate includes reasonable or necessary costs incurred <br /> 3 <br />