Reso 2001-021 RDA 2001-003 - Laserfiche WebLink

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processes. In addition, the role of the Ciry as Redevelopment Agency can be of great value in achieving traffic, circulation, and parking improvements within the Downtown. Nonetheless, it is important that the private sector and residents under- stand the limitations of the City -absent tax increment funds within the redevelopment project areas or the allocation of General Fund dollars, there is no immediate source of revenue to provide Downtown infrastructure improvements. Also, the Ciry does not control the marketplace for com- mercial rents, nor can government force private property building improve- ments. The City can, however, work toward consolidating its shopping areas and minimize further retail erosion near the Downtown. Given the current income structure of the surrounding neighborhoods, it is important that the discretionary expenditures of Downtown San Leandro residents be targeted as much as possible to the Downtown. Consequently, project approvals of new or expanded commercial areas that might compete with downtown should be discouraged. The Chamber of Commerce and the Dosvntozvn Business Association The role of the Chamber of Commerce and Downtown Business Asso- ciation as advocates for Downtown San Leandro improvements and special events is very important. Such advocacy roles can be augmented by the surrounding neighborhood groups, whose best interests are clearly met in effecting a more vital Downtown that serves their special retail needs. Commercial Property Owners Commercial property owner education and involvement in implement- ing the Downtown Plan is essential. While vacancies are not signiFicant within the Downtown, under-utilization of retail spaces and marginal ten- ant placement in key buildings are evident, and not pedestrian friendly. Many buildings are in need of repair, especially those that have second story ele- ments. Given recent trends, some bank closures are ongoing, which could put a number of very large buildings not normally suited for retail use on the market. Mobilizing the property owners within the Downtown, even those who are absentee, is critical to the property reinvestment necessary to at- tract quality tenants. The economics of commercial property upgrades are directly related to rent structure. Currently, Downtown retail rents range from. less than $1.00 per square foot for less desirable space to $2.00 - $2.50 per foot for prime space. Retail tenants traditionally pay for a portion of tenant improvements only; most building improvements are funded by the property owner. While page 14 October 2000 San Leandzo Downtown Plan & Urban Design Guidelines