No. 2456 expanding the boundaries of the Airport Economic Development Area, expanding the allocation area for purposes of tax increment financing and amending the Airport Economic Development Area Development Plan (Portage Prairie)

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multi-story buildings are not readily adaptable for modern industrial processes or material • handling. In the Rum Village Industrial Park the physical impediment is natural the unsuitable soil conditions require demucking in order to create developable sites. Regardless of the cause, the common effect is that the cost of private development is driven so high that neither area can be redeveloped without public involvement and investment. The cost of development per acre is substantially increased because of soil conditions, demolition and clearance costs, or potential environmental problems. In addition, the Rum Village Industrial Park, Sample-Indiana and Studebaker Corridor all face the common problem of potential environmental pollution. A good portion of these areas have been the historical site for much of this community's heavy industrial uses, special permit economic activities scrap and salvage yards, railroad lines and truck terminals and servicing areas. For planning purposes, this sub-area has been divided into five sectors (See Map 6.): 1. Northwest development sector; 2. Northeast development sector; 3. Calvert Road development sector -north 4. Calvert Road development sector -south S. Olive Road. Several development sites and site plans have been identified which might serve as a phased economic development and redevelopment strategy. Phase One would be located in the far northwest corner of the Rum Village Industrial Park and access would be provided from Sheridan Street (to be extended across Sample Street into the proposed new industrial development site.) Approximately 52 acres of development sites could be created. Phase Two would be east of New Energy Road and north and south of Calvert Road. Approximately 62 acres of land could be opened for development. Phase Three would be extended off of Phase Two moving east towards Olive Road on both the north and south side of Calvert Street. Both Phase Two and Three would require acquisition, relocation, clearance, demucking and public works elements in order to assemble the land and to offer developable sites. If the industrial development strategy is to be pursued, the sub-area has several sections of incompatible land uses that must be addressed. Several small pockets of houses along Calvert Street and on Olive Road are prime areas for acquisition, relocation, clearance and site assemblage activities. Olive Road from the Sample Street overpass south to the city limits is in need of improvements in terms of ingress/egress, public works and streetscape. In addition to the Olive Road element of the sub-area plan, several other problems and opportunities can be identified. The Olive-Sample overpass area has had several 11