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. . � : <br /> ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM <br /> Memo No. OS-56 <br /> March 16, 2005 <br /> TO: Honorable Mayor Paul Osborne and City Council <br /> FROM: Steve G City Manager <br /> Dane C. g, Assistant City Manager� <br /> Greg C. Crowe, Economic Development Coordinat���� <br /> SUBJECT: Adoption of Near North Revitalization Plan <br /> SUMMARY RECOMMENDATION: Staff recommends adopting the Near North <br /> Revitalization Plan and incorporating its findings into the Near North Redevelopment <br /> Plan. The attached resolution will be submitted to II3DA by the East Lake Management <br /> and Development as part of their Ta�c Credit Application. No formal commitment by the <br /> City is made by adopting the Revitalization Plan. . <br /> BACKGROUND: Adoption of the Revitalization Plan will assist the Developer of <br /> Wabash Crossing in ensuring a higher ranking for the IHDA Tax Credit Application. A <br /> higher ranking could maximize private investment for the development of Wabash � <br /> Crossing. <br /> INPUT FROM OTHER SOURCES: N/A <br /> POTENTIAL OBJECTION: N/A <br /> STAFF REFERENCE: Any additional questions may be forwarded to Greg Crowe at <br /> 424-2725 or at gccrowe(a�decaturnet.or�. <br /> BUDGET/TIME IMPLICATIONS: IHDA Tax Credit application deadline is Apri14, <br /> 2005. <br />