Agenda - 08-17-1993 - VII-B - Laserfiche WebLink

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nomic development programs of the Town of Chapel Hill for residential and commercial development. The block consist of small businesses,both black-and white-owned, and a few houses that are vacant and/or abandoned. Crime is relatively high because of nighttime social attractions and gatherings. Infrastructure improvement needs would be at a nominal cost but would greatly serve as an enhancement to the physical attributes of the block. The proposed revolving loan fund allocation set-aside in CDBG should be earmarked and fashioned to accommodate the needs and demands of the block's occupants. The conventional standards and requirements should not and can not be applied for suffice. flexible terms and rates, alternate credit barometers, non-collateral, etc. must entail the mechanics for an effective program. The non-profit, depending an proven, acceptable staff capabilities, should be the administrator of the fund. Related policies and procedures should be tailored to local needs subject to the grantor's approval. Vacant housing and commercial buildings should be targeted for acquisition/ownership of MDC. Multiple resources would be targeted to place such properties on market that best suit the community needs. The Midway Development Corporation would make every concerted effort to headquarter its office within the block. All strategic plans should be developed and implemented within a l8-to-24-month period. Beautification programs of the surrounding area(s)would be instituted to enhance the image of entrance into the area. Civic pride and appreciation will be instilled and serve as a domino effect to spread rampant throughout the Midway community. The local population would begin to shed an unwill- ingness to shop in the area and, therefore, begin to spread its wealth to present and future retail. The non- profit would again gain a "feather-in-hat" and further its track record as a developer, thereby, increasing its capability to partner in other larger,involved ventures. III. Community Resource Center (CRC) The purpose of the CRC is to provide and inform Midway businesses and residents of prevalent economic development resources, materials, activities and programs that effect their well-being. The CRC would endeavor to build a network for these businesses through the publication of a directory on all ventures, business and services. There are also plans to locate all state-run utilities and help Midway area businesses to bid for those contracts. After acquiring and soliciting pertinent information, MDC will disseminate the same by direct mail or handouts, newsletters, community meetings and business gathering affairs. Some counseling and 4