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Priority: Downtown Economic Development <br /> Introduction <br /> Census Tract 4506.07 includes the old downtown area of Pleasanton, which dates from before the <br /> City's incorporation in 1894. This census tract is the only one in Pleasanton which has been <br /> recognized in the past by HUD as a target area due to the relative large proportion of older buildings <br /> and households in the lower income range (including a large percentage of seniors). [However, this <br /> census tract ceased to be designated as a target area in the 2000 Census.] <br /> The City allocated $10,000 in FY 1994/95 CDBG funds to support the establishment of a Downtown <br /> Economic Development program to fund loans to assist small businesses in the area to make <br /> improvements such as URM (unreinforced masonry) building upgrades, storefront remodels, historic <br /> preservation, sign upgrades, and design assistance for facade and related improvements. The <br /> program was not heavily utilized due a strong upturn in the local economy. However, the City will <br /> continue to offer this small program using local funds (rather than HUD funds) to address the needs <br /> of the few small businesses that might not be able to make physical improvements without this type <br /> of assistance. The program will eventually become self supporting to the extent that loans are <br /> repaid. <br /> Short and Long Term Objectives <br /> The objectives presented in this section reflect the broad areas which will be pursued under this <br /> priority. Implementation will be contingent on current and projected need, availability of financial <br /> and other resources, and regular re- assessment of the proposed objectives and accomplishments. <br /> Five Year Objectives Five Year Coals Performance Measures <br /> Continue to support the Downtown Assist businesses based on demand. One to two businesses will receive <br /> Design Assistance loan program If increased need is perceived, assistance each year during the five <br /> using City funds. consider expanding the program and year period. <br /> adjusting according to level and <br /> types of need. <br /> GEOGRAPHIC DISTRIBUTION <br /> The Downtown Economic Development program will be available to businesses located within the <br /> Downtown Revitalization District, which is a subarea within Census Tract 4506.07. <br /> Strategic Plan FY2010 FY2014 <br /> City of Pleasanton <br /> Page 49 <br />