Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing Redevelopment topic
No spam. Unsubscribe anytime.
Board hears plan for $750,000 revolving demolition loan fund and discusses mixed-use redevelopment in entertainment district
Summary
Board members discussed a $750,000 seed revolving loan fund for demolition of blighted properties and explored allowing mixed-use redevelopment in the entertainment district to support workforce housing and redevelopment of old hotels.
Board members discussed new-business items aimed at addressing blight and workforce housing in the entertainment district. A board member (S5) said the city’s recently passed budget included a $750,000 allocation for a revolving loan fund to help pay for demolition of blighted properties; the fund would be repaid through liens or sale proceeds and replenished for future projects.
S5 described the program framework: the CID would solicit applications, fund demolition under a lien arrangement or cost-share model, and recover a portion of proceeds when properties are sold. "We included a, $750,000 provision just, implement a revolving load fund for demolition," S5 said.
Separately, board members discussed a policy concept to allow mixed-use redevelopment in the entertainment district — retail or ground-floor commercial with apartments above — to encourage workforce housing and reuse of dilapidated hotels. Members stressed the need for clear regulations, separate residential and retail entrances, and careful vetting to avoid substituting short-term lodging for long-term housing.
Board members agreed the idea was worth exploring further and asked staff to research regulatory and practical considerations before bringing a formal proposal to a future meeting.
