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V_ <br />'JUN 19 1995 <br />BOOK 61 F�,, C,998 <br />Planning Director Keating made the following staff <br />presentation: <br />TO: The Honorable Members DATE: June 10, 1985 FILE: <br />of the Board <br />of County Commissioners <br />OF <br />SUBJECT: THEUEST INDIANRRIVEROVAL COUNTY <br />OVERALL ECONOMIC <br />DEVELOPMENT PLAN <br />FROM: Robert M. Keating, AIAFERENCES: <br />Planning & Development Director <br />It is requested that the information herein presented be <br />given formal consideration by the Board of County -Commission- <br />ers at their regular meeting on June 19, 1985. <br />DESCRIPTION & CONDITIONS <br />For the past several years, the federal Economic Development <br />Administration has notified Indian River County of its <br />eligibility for designation as a redevelopment area. Such <br />eligibility is based upon an area's unemployment rate, with <br />those jurisdictions having higher unemployment rates being <br />eligible for redevelopment area designation. Although the <br />County has been notified of its eligibility several times in <br />the past few years, this is the first time that the County <br />has taken the initiative to pursue the redevelopment area <br />designation. <br />To obtain designation as a redevelopment area, it is neces- <br />sary for an eligible jurisdiction to prepare an Overall <br />Economic Development Plan (OEDP), consistent with applicable <br />EDA regulations. The OEDP must be developed by a committee <br />comprised of representatives of all major segments of the <br />community. Once prepared by this committee, the plan must be <br />adopted by the local governing body and then sent to the EDA <br />for approval. After approval of the OEDP by the Economic <br />Development Administration, the County will be eligible to <br />apply for and receive various economic development related <br />loans and/or grants administered by the EDA. <br />On July 18, 1984, the Board of County Commissioners formed an <br />OEDP Committee and appointed members to it. Since then, the <br />committee and the staff have worked on preparing the draft <br />plan. During this period, the committee met eleven times, <br />structuring a draft Overall Economic Development Plan which <br />meets applicable EDA criteria. <br />The draft OEDP, which has been transmitted under separate <br />cover, contains an overview of the County, including a <br />description of the County's population, economic, and demo- <br />graphic characteristics; an identification of the County's <br />potentials and constraints to economic development; a listing <br />of the County's economic development objectives;' and recom- <br />32 <br />