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MAJOR CA,PITA,L PROJECT DESCRIPTION <br />FOR ~tEARS 2005 - 2008 <br />operating costs for maintenance, clean-up and mowing could total $20,000 a year while the City <br />holds the property. These costs will be funded by the Sample-Ewing Tax Increment Fund (TIF). <br />This will not be an ongoing cost and, as sites are sold, the operating costs will be reduced. <br />Sample-Ewing Development Area (SEDA~,~.. $910,000 (2005-2008) <br />South East Neighborhood Project <br />This project continues the redevelopment and revitalization of the residential sections of the <br />Southeast Neighborhood. With the comple;tion of the large-scale redevelopment activities, i.e., Ivy <br />Tech Campus, Boys and Girls Club, etc., the focus of the project will be on the development of new <br />single family housing, rehabilitation, small-scale public improvements and acquisition, relocation, <br />clearance and site assemblage for housing in-fill projects. A block-by-block development plan will <br />be prepared that will mix new housing construction with rehabilitation of selected housing units. <br />Activi , Date <br />2005 $310,000 <br />2006 300,000 <br />2007 150,000 <br />2008 150.000 <br />TOTAL $910,000 <br />Fundin Source <br />Sample-Ewing Development Area <br />Tax Increment Fund (SEDA TIF), <br />Community Development Block <br />Grants (CDBG), County Option <br />Income Tax (COI`T) and General <br />Funds <br />Projected Ongoing_Operating Cost Impact <br />See comments for Studebaker Corridor Projects -Major Projects. Costs for both Studebaker <br />Corridor Maj or Proj ects and Southeast Development Area Tax Increment Fund Mixed-Use Proj ects <br />are included in the projected operating costs for the Studebaker Corridor Major Projects. <br />Sample-Ewing Development Area (SED~~ $1,500,000 (2005-2008) <br />Rum Village Neighborhood <br />This project consists of the Rum Village Neighborhood and the Indiana-Sample Industrial District. <br />This expansion and merger of the areas was based on the Sample-Ewing Development Area (SEDA) <br />Redevelopment and Revitalization Plan. Activities will include acquisition, relocation, clearance <br />and site assemblage of industrial and commercial properties and the acquisition and rehabilitation <br />of single family housing units and small commercial buildings, public works and improvements, <br />including streets, curbs, sidewalks, lighting; and traffic controls, landscaping and related activities <br />and various planning and pre-development activities. <br />D-36 <br />