Minutes 10/09/1990 - Laserfiche WebLink

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situation and are doing everything possible to compete for new industries. Evidence of this effort is the large capital in- vestments made by the City and County in two separate Industrial Parks and funding of $50,000 annually from each jurisdiction to cover the work of EDC in its efforts to attract and bring new industries to the area. ?~-.~ ~. . ~.~I..~ In addition, Council appointed a Commercial 'Development~'Commis- ~SiQ~n ~n an-~e~ffort .to encourage the development of new commerce in the area. The City has been very fortunate in stabilizing the Central Business District through major improvements. The City cooperated and supported the development of the Liberty Fair Mall which has contributed greatly to the City's commercial base which has resulted in increased real estate and sales tax revenue to the City. This has been a real asset as it relates to the financial well being of the City. The Chamber of Commerce has also put forth strong efforts towards the expansion of commercial and industrial facilities in the City/County area. They have been effective through programs of promoting overall economic development of Martinsville and Henry County. In summary, there is a sincere conciousness on behalf of all concerned in Martinsville and Henry County to promote the econo- mic growth of the area and considerable effort has been made and is continuing in an effort to improve the overall economy of the area. These efforts have involved considerable expenditures on behalf of the City and County governments. TRANSPORTATION PLAN AND PROGRAM Adequate transportation facilities are vital to the growth and development of the community. The Transportation Plan is a very important element of the Comprehensive Plan. In recognition of this, the City has made considerable progress in planning and implementing street and highway projects designed to meet the overall transportation needs of the community. The Martinsville Area Study Plan has been the basis for implementing highway pro- jects in the City-on a participating basis with the Virginia Department of Transportation (VDOT) under the State's Six-Year Program. A number of major highway projects have been con- structed in the City in recent years Under this program. These included Commonwealth Boulevard, Market Street, Spruce Street and the improvement of the Fayette/Church/Memorial Boulevard intersection. The City is also completing this fiscal year a fairly extensive 7-Year Street and Sidewalk Improvement Program which has been paid for entirely with'City funds, the total cost of which is estimated to be 1.5 to 2 million dollars. These programs are ongoing and the Area Study Plan is updated every five years with the Six-Year Program being reviewed annually. The purpose of which is to plan ahead to insure that the transportation needs of the area are provided for as needed. 4