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Increasing the overall value of the Grow Zone <br /> i. Encourage infill. <br /> a. There are numerous exiting vacant lots within the grow zone. Although these <br /> parcels are adjacent to enormously expensive public infrastructure investments, <br /> they provide very little tax revenue to the City. These properties need to be <br /> developed in order to maximize public infrastructure invests made by the city. <br /> Example of existing vacant lots North Washington Street <br /> Feet of Pavement adjacent to vacant parcels: 300 <br /> Total Land Value (four vacant parcels): $42,900 <br /> Cost of Adjacent Street(300 ft x$75/ft): $22,500 <br /> Amount Paid for Adjacent Infrastructure over 20 yrs:$734 <br /> Revenue Shortfall: $21,766 <br /> .s <br /> _ 3 <br /> �a <br /> y <br /> Y <br /> b. Besides existing vacant lots, there are numerous other development <br /> opportunities within the Grow Zone. Many properties have large "buffer areas" <br /> that may eventually be split off and developed. The minimum lot width in the <br /> "Downtown Mixed Use" zoning district is 25 feet. If the vacant and already <br /> development properties were split into 50 foot lots, an additional ii properties <br /> could be added to North Washington Street alone. <br />