Money will be spent on projects identified in the Urban Renewal Plan Amendment including:
- Housing (including property acquisition for the development of housing and financial assistance to cover the cost of permits and fees for development of new housing in the Riverfront District)
- Physical Improvements to Address Safety and Comfort (including street, curb, alley, and sidewalk improvements, streetscape projects, and pedestrian, bike, and multi-modal transportation improvements); and
- Emerging Projects Directed or Initiated by the Agency Board (could include Community Facilities, Open Space Improvements, and Development Support).
The Agency Board has indicated they expect to direct a majority of the funds included in the proposed new spending limit to support the creation of new housing in the downtown core. The actual project funding allocations will depend on future Agency Board budgetary action and project implementation.