Goals of the Urban Renewal Plan
To coalesce the various studies conducted in town into an action based plan that has community input and state approval. Set concrete goals and actions for the ARA to achieve with measurable success.
Realize project success that will encourage private investment
Set standards for infrastructure improvements that will make the Downtown and Route 126 areas attractive to new business and Residents
Increase the Commercial tax base to allow for investment and improvements in the Community
Encourage Residents to shop and do business locally
What is an Urban Renewal Plan?
A URP is an approved redevelopment project by the state that grants the applicant that ability to pursue redevelopment and improvements of substandard, decadent or open blighted areas as well as plan for future land use. The stringent application and process also goes thru public review and comment.
Once approved by the state, the plan provides the Authority the ability to:
*Establish rehabilitation/design standards
*Demolish and/or rehabilitate substandard structures
*Participate in real estate development and commercial revitalization
*Issue bonds, borrow money and invest funds
*Receive grants and loans
*Accept gifts or requests