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BUSINESS AND REAL ESTATE The City of Henderson Redevelopment Agency, much like other municipal redevelopment agencies, serves as the governing board for government-sponsored development activities within legally created redevelopment area boundaries. The Henderson City Council serves as the Redevelopment Agency’s governing board, with assistance from the Redevelopment Agency Advisory Commission and several stakeholders, such as the Water Street District Business Association. The association is comprised of local business and neighborhood leaders, and the Downtown Residential Civic Alliance is comprised of residents. 32 32 cityofhenderson.com Why Redevelop? The City of Henderson has earned national recognition for its quality of life and for the services it provides its residents and businesses. Like other metropolitan areas, however, older neighborhoods, such as the original downtown hub of the city, have declined as development has expanded outward. Redevelopment activity positively impacts the social, economic, and physical infrastructure within older areas or areas damaged by obsolete uses, such as mining and quarrying. Redevelopment projects attract commercial, industrial and residential development back to these areas to stimulate growth and economic vitality, and to improve the quality of life. What does redevelopment do? The creation of redevelopment areas, by identifying a legal boundary around areas that meet a variety of blighting characteristics, is a primary tool used by cities and counties across the country to encourage commercial and residential growth in areas that have aged and are currently underdeveloped. Redevelopment activities stimulate revitalization efforts and economic development. Redevelopment engages the people in redevelopment areas in the process of taking control of their neighborhoods. It also constructs strong relationships between historically diverse groups with individual needs to highlight the impact they can have when they come together with a singular vision and mission to create change. Redevelopment connects its area constituents to city programs and services and creates community partnerships to access additional resources as needed. Redevelopment efforts physically enhance and revive the character of business and residential districts, resulting in the creation of vibrant, dynamic communities that continue to thrive decades later. Redevelopment increases equality for residents by offering opportunities for disadvantaged areas to reinvent themselves through a series of small, meaningful programs and projects. These projects create job opportunities and provide residents the chance to increase their income and better their quality of life. Why does government get involved? Why can’t private enterprise do it alone? Private investment is crucial to the process of reviving neighborhoods, as public monies are finite. Initial public investment is required to spur private ventures, as it illustrates the city’s commitment to the improvement of the area. Using public investment also leverages dollars and often allows the private entity to overcome challenges unique to redevelopment areas (such as aged infrastructure or environmental contamination). Redevelopment Agency


2014 EDO
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