Amador County – A study 2 years in the making brought hopes for redevelopment at the Plymouth City Council last Thursday. City Grants Administrator Teri Cox and consultants presented a study funded by a Community Development Block Grant that identified a section of Plymouth that qualifies for formation of a Redevelopment Agency, with ensuing grants for urban renewal. Stephen Prestwood of PMC gave a preliminary redevelopment report and said the city was well on its way toward forming the agency, saying the next step was to do an Environmental Impact Report. He said a suitable area was identified and met criteria for the agency formation, including 83 percent being urban settings and incidents of blight in 53 percent of lots and structures. Prestwood said potential projects included public infrastructure, property acquisition, site development and commercial and housing rehabilitation assistance. He said current assessed value of the property in Plymouth was $60.295 Million, which in a 30-year plan with the redevelopment was projected to increase by more that triple to $299.5 Million. Estimates included increased retail space by 67,000 square feet and commercial space by 350,000 square feet. Prestwood predicted $6 Million in bond issuances in 7 years, and $3 million more in about 12 years and again in 20 years. City Manager Dixon Flynn asked how long it would take to finish an EIR and adopt a Redevelopment Plan. Prestwood said it must be accomplished by August 2009. City Planner Paula Daneluk said they did not yet have an estimate on the cost of an EIR. Flynn said “under the Redevelopment Agency concept, you incur debt” though deficit spending, then are reimbursed through the financing mechanisms and “pay ourselves back … You are borrowing money before you are even spending.” That included paying for the EIR then being reimbursed. He said that included staff work on the agency, such as his own and staff. Jim Carney of PMC said the “Next big step is the EIR.” He said they are hearing from Washington, D.C., that there is going to be a stimulus package to pay for infrastructure. Daneluk said she would like to bring the project back with better numbers, but “it’s a sure thing that you’ll get money from having a Redevelopment Agency.” Baldwin said “Plymouth is 1 square mile and (the cost of an EIR) can’t be that bad. We need these number, A.S.A.P.” Story by Jim Reece
Sunday, 14 December 2008 23:51
Plymouth City Council
Amador County – A study 2 years in the making brought hopes for redevelopment at the Plymouth City Council last Thursday. City Grants Administrator Teri Cox and consultants presented a study funded by a Community Development Block Grant that identified a section of Plymouth that qualifies for formation of a Redevelopment Agency, with ensuing grants for urban renewal. Stephen Prestwood of PMC gave a preliminary redevelopment report and said the city was well on its way toward forming the agency, saying the next step was to do an Environmental Impact Report. He said a suitable area was identified and met criteria for the agency formation, including 83 percent being urban settings and incidents of blight in 53 percent of lots and structures. Prestwood said potential projects included public infrastructure, property acquisition, site development and commercial and housing rehabilitation assistance. He said current assessed value of the property in Plymouth was $60.295 Million, which in a 30-year plan with the redevelopment was projected to increase by more that triple to $299.5 Million. Estimates included increased retail space by 67,000 square feet and commercial space by 350,000 square feet. Prestwood predicted $6 Million in bond issuances in 7 years, and $3 million more in about 12 years and again in 20 years. City Manager Dixon Flynn asked how long it would take to finish an EIR and adopt a Redevelopment Plan. Prestwood said it must be accomplished by August 2009. City Planner Paula Daneluk said they did not yet have an estimate on the cost of an EIR. Flynn said “under the Redevelopment Agency concept, you incur debt” though deficit spending, then are reimbursed through the financing mechanisms and “pay ourselves back … You are borrowing money before you are even spending.” That included paying for the EIR then being reimbursed. He said that included staff work on the agency, such as his own and staff. Jim Carney of PMC said the “Next big step is the EIR.” He said they are hearing from Washington, D.C., that there is going to be a stimulus package to pay for infrastructure. Daneluk said she would like to bring the project back with better numbers, but “it’s a sure thing that you’ll get money from having a Redevelopment Agency.” Baldwin said “Plymouth is 1 square mile and (the cost of an EIR) can’t be that bad. We need these number, A.S.A.P.” Story by Jim Reece
