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AGENDA, SECTIOW, ORIGINATING DEPT'./DIV.: <br />The purpose of thi*29 <br />Is <br />intended to, assist <br />ATea.1 <br />Adm,Jffiist rats. <br />on <br />Community Development Block Grant <br />Application <br />MEETING 1/17/83 <br />DATE: . <br />Im <br />hearing JLs to receive comments on a proposed CDBG applicati <br />Ai <br />the City, "in carrying out its objectives in the Redevelopmenti <br />The particular assistance requestied, in this application is to provide funds for <br />the acquisition of approximately 4 acres of land, from the ultimate owner of <br />0 bi E <br />approximately 13 acres in an area, immediatiely north, of Rosedale Shopping Center., <br />The purchase of said property wo�uld assist the ultimate owner in developing the <br />remaining 91 acre site into a speclialty shopping center. The owne-r would have <br />the option, of repurchasing the 4 acres, plus _�nterest and administrative expenses <br />A, <br />The amounti of the application is for $500,1000 to cove-r the cost of four acres per <br />,?m apprialsal contr,iacted for by, the Citye <br />Submission of this application does not, assume an ultimate development project <br />w ill be absolutely approved. 'Me proposed development currently un i ew <br />der rev* <br />by the Pli=ing, Consultant will require, public hearings involving rezoning and <br />,other cons *1 de rat, -ions'. At this point, plan, rev:Lew and development has been <br />J <br />progressing in a very, positive manne,r, If the project. was not approved, the <br />CD IIIG application would either be cancelled or the grant funds returned. <br />The application deadline is February 1, 1983, which requires an acceleratei <br />coinsideiratim of the application, <br />Councill Action Requested,,, Motilion, t'o, close the hearing, and iinstruct the City <br />Manager to submit an application for Community <br />Development Block Grant funds to acquire approxi'mately <br />4 acres of undevelloped l,and, <br />