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Magna CRA staff proposes $417,000 downtown activation package from $2.4M fund
Summary
Economic-development staff proposed allocating up to $417,000 from the downtown CRA fund for marketing, a digital sign, parking upgrades, a commissary kitchen contribution and event coordination to drive foot traffic and support redevelopment; board asked staff for further details on funding durability and timing.
Dan Torres, Magna’s economic-development staff member, told the Community Reinvestment Agency board on Sept. 24 that the downtown CRA holds roughly $2.4 million and presented a draft plan to spend up to $417,000 to jump-start activity in the downtown district. "All told, there's about $2,400,000 in the downtown CRA," Torres said.
The proposal breaks the $417,000 into several components: up to $10,000 for downtown branding and advertising; software and outreach tools; a digital reader sign on 8400 West and Main Street; about $200,000 for temporary downtown…
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