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PART IV. PRIORITY COMMUNITY DEVELOPMENT <br />(Non - Housing) NEEDS <br /> <br />Priority Community Development Need: <br />Downtown Economic Development <br /> <br />Introduction <br /> <br />Census Tract 4506.07 includes the old downtown area of Pleasanton, which dates from before <br />the 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 <br />buildings and households in the lower income range (including a large percentage of seniors). <br />[However, this 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 ora <br />Downtown Economic Development program to fund loans to assist small businesses in the area <br />to make improvements such as URM (unreinforced masonry) building upgrades, storefront <br />remodels, historic preservation, sign upgrades, and design assistance for fagade and related <br />improvements. The program was not heavily utilized due a strong upturn in the local economy. <br />However, the City will continue to offer this small program using local funds (rather than HUD <br />funds) to address the needs of the few small businesses that might not be able to make physical <br />improvements without this type of assistance. The program will eventually become self- <br />supporting to the extent that loans are 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 <br />financial and other resources, and regular re-assessment of the proposed objectives and <br />accomplishments. <br /> <br />Five Year Obiectives Five Year Goals 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 /> <br />GEOGRAPHIC DISTRIBUTION <br />The Downtown Economic Development program will be available to businesses located within <br />the Downtown Revitalization District, which is a subarea within Census Tract 4506.07. <br />DRAYr - Strategic Plan - FY2005- FY2009 <br />City of Pleasanton <br />Page 26 <br /> <br /> <br />