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The formal process for adopting a $260-million infrastructure redevelopment plan begins Wednesday evening when the City Council gives the proposal a first reading at City Hall at 7 p.m. The council has shown unanimous support for the Infrastructure Revitalization Plan that would provide funding for improving water and sewer systems, streets and flood control.
Money for the 30-year program would come from diverting property taxes to a special fund under state redevelopment law. The amount diverted to the redevelopment fund would increase over time as property values rise and tax revenue grows. A final vote on the proposal is scheduled for July 12.
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