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Chandler W. Lee <br /> Revised February 5, 1987 <br /> Page 10 <br /> <br />Component II: Real Estate Analysis of Private <br /> Rehabilitation and Redevelopment Options <br /> <br />The study component described above will quantify the market <br />potential of downtown and provide some indication of the <br />kinds of improvements and policies that will be necessary for <br />that potential to be realized. A remaining question is the <br />degree to which the private sector will provide the kind of <br />commercial spaces needed to accommodate potentially viable <br />retail, commercial, cultural and entertainment uses and to <br />achieve the kind of character envisioned by the downtown <br />plan. <br /> <br />This component will analyze the real estate feasibility of <br />rehabilitation and redevelopment options that would be con- <br />sistent with the market and the City's aesthetic objectives, <br />in order to identify appropriate design and development <br />objectives that could be realized through private market <br />forces. To the extent that desired development types are not <br />likely to occur through private market forces alone, this <br />analysis would identify where some form of subsidy might be <br />necessary, how much might be needed and how subsidies might <br />be most effectively utilized. <br /> <br />The tasks involved in this study component are described <br />below. <br /> <br /> <br />