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Cit d Univlrsity ,City U Downtown Revitalization Economic Assistance for Missouri APPLICATION 4. A few weaknesses exist with respect to the redevelopment of Olive Boulevard. First, the parcels in the corridor are shallow or oddly shaped. Surrounding land uses to the north and south are generally stable residential areas, which are expected to remain in existence. These two factors prohibit large scale redevelopment. Second, the parcels along the corridor are under multiple ownerships, making parcel assembly and significant redevelopment a challenge. Third, financing proposed actions and implementing recommendations from planning efforts has also proved challenging, as public financial resources for such activities are limited. The existing business association collects dues, but does not currently have a dedicated funding source for district improvements. 5. An ongoing effort to revitalize Olive Boulevard is in existence. The business community, the Olive Link Business Association and the City have all undertaken efforts to promote the continued improvement of this important corridor. With the assistance of a federal grant, the City has undertaken extensive streetscape improvements. These improvements include the installation of pedestrian level lighting, landscaping, benches and shelters placed at bus stops, pedestrian level lighting, and sidewalk improvements in select areas. A bicycle route is also planned along the corridor and will link with the city to west. With the assistance of Tax Increment Financing, two areas along Olive Boulevard have been or are in the process of being successfully redeveloped into commercial! retail space. The Olive Link Business Association has installed banners on light standards in select locations along the corridor and organized several events to promote the corridor. Several planning efforts have also focused efforts on redevelopment of the corridor. The Land Clearance for Redevelopment Authority commissioned several concept plans for several intersections along Olive Boulevard and subsequently issued a request for proposals. The Comprehensive Plan Update of 1999 and 2005 designated several parcels along Olive Boulevard as redevelopment areas, providing priority for development incentives. An Olive Boulevard Land Use Study (2000) analyzed land use issues and developed strategies to address these concerns. 6. The business community is extremely interested in realizing the redevelopment of Olive Boulevard. According to a Business Survey commissioned by the City as part of the Comprehensive Plan Update of 2005, business owners (responding to the survey) were very supportive of efforts to attract new businesses to the corridor and make other service and physical changes. The Olive Link Business Association is also interested in the corridor's redevelopment. The association's purpose is "...to create, enhance, and promote commerce within the University City Olive Link. We will strive to create a community of diversity, harmony, and progress. Our desire is to www.ucitymo.org