Urban Renewal Report

The City of Florence has invested considerable time and money in study efforts on downtown
and Old Town Florence. Among the studies are a 1998 Downtown Plan, a 1999 Implementation
Plan, and a Downtown Plan Update Report. The missing catalyst for implementing the
recommendations in these reports was a reliable source for financing their recommendations.
On March 23, 2005, Florence City Council appointed a Downtown Urban Renewal Advisory
Committee (DURAC), and gave it these charges:

• Find a funding method to complete the Council Approved Downtown Plan
• Evaluate the feasibility of establishing a Downtown Urban Renewal District
• Provide advice on any matter relating to updating and/or implementing the Downtown

Plan

Over the next several months the Committee developed a Vision Statement, a list of objectives
for the Downtown Area, and gathered information on the workings of Urban Renewal and tax
increment financing. The Committee’s work included visits to several cities with renewal
programs to discuss their experience, and get their advice on urban renewal. Based on its work,
the Committee made a recommendation that the City develop an urban renewal plan for the
Downtown Plan area. The City of Florence hired an urban renewal consultant, and the Urban
Renewal Advisory Committee started work on the urban renewal plan in January, 2006.
The Urban Renewal Plan is formally titled “The Florence Downtown Preservation and Renewal
Plan.”