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Comprehensive Plan, City of Paris, Texas Future Land Use Neighborhood Stabilization and Redevelopment Audits A periodic "Stabilization and Redevelopment Audit" may be conducted in neighborhoods to determine the areas, if any, where a preponderance of conditions exist to warrant establishing a formal redevelopment program. The audit would help Paris select target areas for programs. The higher the number of factors present, the more immediate and aggressive a redevelopment strategy is warranted. Some of these factors are quantifiable while others are subjective. However, almost all of them can be applied to either commercial or residential areas of the City, with the exception of retail sales. In order for City officials to ascertain when conditions for redevelopment exist, a combination of the following 15 factors need to be present in the area under evaluation. These conditions, or factors, may be categorized into three major areas: • Ownership factors, • Economic factors, and • Community factors. More specifically, these factors include: Applicable Factor Impact on Impact on Commercial Residential A B C. Ownership Factors: 1) High Vacancy Rate Yes Yes 2) Extended Vacancy Period Yes Yes 3) Deed Restrictions Yes Yes 4) Ownership Changes Yes Yes 5) Non-owner Occupied Housing - Yes Economic Factors: 6) Retail Sales Decline Yes - 7) Property Value Decline Yes Yes 8) Lack of Renovation/Remodeling Activity Yes Yes 9) Economic Obsolescence Yes Yes 10) Tax DelinquencyBankruptcy Yes Yes Community Factors: 11) Lack of Property Maintenance Yes Yes 12) Land Use Obsolescence Yes Yes 13) PhysicalObsolescence Yes Yes 14) Environmental Concerns Yes - 15) Safety Concerns Yes Yes S:V8288\WPClfina1 rcpurt 2-01.duc 57 BWR