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165 <br />March 25, 2003 <br /> <br /> WHEREAS, the City conducted surveys and meetings with <br /> businesses and property owners along the West Church Street <br /> Corridor, including the planning study management team; <br /> Martinsville Uptown Revitalization Association; Patrick Henry <br /> Community College; Gateway Streetscape Foundation; and the <br /> City Engineer in completing a needs assessment whereby street <br /> improvements, sidewalks, curb and gutter, storm drainage, <br /> streetscape, lighting and signage improvements, overgrown sites, <br /> underutilized properties, deteriorating storefront improvements, and <br /> a poor gateway entrance were identified as major needs and <br /> concerns of the West Church Street Commercial Corridor; and <br /> WHEREAS, an Economic Environment Enhancement Program for <br /> physical and economic redevelopment has been developed by the <br /> City in cooperation with the West Church Street property and <br /> business owners and other stakeholders pursuant to requirements <br /> for funding set forth by the Virginia Department of Housing and <br /> Community Development (VDHCD) including a Preliminary <br /> Engineering Report (PER) and West Church Street Streetscape <br /> Plan for the required public improvements and a Storefront <br /> Improvement Program to support private investment; and <br />WHEREAS, five (5) local banks have committed to contribute <br />$50,000 each for a total of $250,000 to establish a loan pool to <br />assist Church Street property owners in making improvements to <br />their properties; and <br />WHEREAS, six (6) property owners have expended $487,580 <br />since July 1, 2001 for property improvements and twelve (12) <br />property owners have submitted documentation of their interest in <br />participating in the Storefront Improvement Program with intent of <br />expending $180,000 in building rehabilitation, fa(;ade and entrance <br />improvements; and <br />WHEREAS, one (1) property owner is preparing his vacant site on <br />West Church Street for future development and is expending <br />$122,200 for property clearance, fill dirt and drainage <br />improvements; and <br />WHEREAS, the Gateway Streetscape Foundation, Inc. has <br />provided a written commitment of $26,620 to provide labor to install <br />and plant the landscaping materials in order for the City to <br />implement the West Church Street Streetscape Plan; and <br />WHEREAS, the City has committed $53,800 in proceeds from the <br />sale of City owned property; $90,000 from an Economic <br />Development Initiative Grant from HUD; $288,655 in public works <br />force account work; $10,000 funding from the public works budget <br />for overhead signage; and $11,316 from an existing City budget <br />line item for fac~ade improvements for the two Patrick Henry <br />Community College buildings for a total of $453,771 to carry out <br /> <br /> <br />