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City staff says Promenade West survey is complete, housing program changes coming
Summary
City staff reported that survey work on the Promenade West area is complete and a report is expected by month-end; staff said residential housing program allocation rules will be amended to a 25-year maximum and several projects will be consolidated with anticipated bond closing in early fall.
City redevelopment staff reported that A and Z consultants have completed field work on the Promenade West area and are preparing a final report expected by the end of the month. Phil Bowditch, who delivered the staff report, said the team is consolidating several residential projects and preparing for a bond closing in September or October.
"They have completed all their field work and are preparing their report to get that done as scheduled by the end of the month," Bowditch said, describing the timetable. He also told commissioners staff will amend residential housing development program allocation provisions following a statutory change to allow a maximum 25-year allocation period, replacing the prior 20-year structure. Bowditch provided preliminary fund figures, noting the non-allocation general fund balance and allocation-area account totals but said additional distribution amounts discussed during the staff review were not clear on the record.
