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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environmental problems in terms of water and soil contamination. The Olive Street well field and Water Works pumping station offers some adaptive re-use potential and land development possibilities. With the closing of the Mastic Plant on South Olive, this large industrial facility also offers some re-use potential, especially if the older portions of the facility were demolished to open up the site for better access, circulation and parking. The rail yards could also be an opportunity for the further development of the area's industrial capacity. While soil conditions are less than optimum for urban development purposes, the location near the U.S. 31 Expressway, rail lines, "E" -Heavy Industrial zoning and land for expansion are all major pluses that will serve as the foundation for future development. The prime deterrant for private sector investment and development remains the existing soil conditions and the cost of development per acre. Several other lesser barriers exist: the pockets of incompatible land uses, the need to upgrade the existing road and street system and the potential for water and soil contamination. Nonetheless, this sub-area offers one of the few locations within the city for industries in need of rail services and heavy industrial facilities and sites. In the initial stages of the planning schedule, the goals for the Rum Village Industrial Park should be extremely modest. The goals are modest because existing products, i.e., competing sites for industrial development must be absorbed by the private market place. These sites include the Airport and Toll Road Industrial Parks, the . Studebaker Corridor, and, perhaps, sites located around the proposed IVY Tech campus in the Southeast Neighborhood. Many of these competing sites only allow light industrial so it will be important to have heavy industrial land available. The goals listed below are more opportunistic and reactive than will be found in the balance of this plan. RUM VILLAGE INDUSTRIAL PARK SUB-AREA GOALS • Develop the area on aproject-by-project basis within the framework of a comprehensive site plan. The projects will be of a heavier industrial nature or those needing access to rail spurs. • Improve the condition of Olive Street as appropriate to the heavy industrial uses and concentration of truck terminals and truck servicing businesses. • Plan for the adaptive re-use of the Olive Street well field area with a mix of private and public uses. • Eliminate the incompatible residential land uses along Olive Street by purchasing and clearing the sites as the opportunities become available. 12