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7. Increase and improve the functional capacity of the facilities within the <br />area to make it an attractive and competitive area for living, working, <br />education and recreation. <br />8. Create a physical environment and organizational structure that will <br />stimulate, encourage and facilitate the phase -in of private resources and <br />the phase -out of extraordinary levels of public investment. <br />9. Increase both the personal and real property tax base and public <br />revenue (so that the area becomes a net exporter of property tax funds.) <br />10. Coordinate, develop and implement the public economic revitalization <br />and physical redevelopment programs with private sector efforts and <br />non - profit and public agencies' human and social service programs. <br />11. Create and support opportunities for private sector investment that <br />includes new construction, rehabilitation and the re -use of marginal <br />land, buildings and facilities. <br />12. Develop and implement a redevelopment and revitalization strategy and <br />plan through a collaborative process that includes neighborhood, <br />business, City and institutional interests in the area. <br />13. Improve the overall physical and environmental quality of the area, <br />including the natural and man -made aspects, and reduce the <br />unreasonable high risk to private investment caused by the present <br />environmental conditions. <br />14. Encourage a balanced transportation system within the area that <br />provides for and accommodates various forms of transportation, <br />including bus, automobile, rail, bicycle and pedestrian traffic. <br />15. Generate a variety of funding sources from all levels of government, <br />the private sector (both individual and corporate) and philanthropic <br />organizations. <br />16. Develop an overall strategy that contains several development options <br />for each sub -area to reduce the risk of failure. <br />-19- <br />5/21/93 <br />