2009 acre event

Team Corona—Economic Development

Demographics

Total Payroll- $3.23 billionIncrease of 94.2% since 2000

More than 85,000 employees1 job for every two residentsPopulation150,000

Average Household Income- $84,64132.7% of HH eared $100,000

GIS—Geographic Information

System

Workforce TV

Loopnet Commercial

Link to Caltrans web site for project information: http://www.dot.ca.gov/dist8/projects/riverside/sr91greenriver/index.htm

Responsible Agency: CaltransConstruction Began: April 2007Construction to be Completed: April 2009Construction Cost: $22 Million

Construction ScheduleBegin: January 2008Completion: February 2010Construction Cost: $15 Million

Magnolia Project Magnolia Project

Daniel L. Rittatore736-2297

Judi Staats739-4946

Michell Skipworth279-3690

Economic DevelopmentTeam Corona

City of Corona-Redevelopment Agency

Cynthia Lara

REDEVELOPMENT

GENERAL APPROACH:All efforts and activities are to position Agencyfor FUTURE development:

~Land Assembly/POSSESSION~~Monitoring Market, City & Agency NEEDS~~COMMUNICATION w/Development sector~~FINANCING opportunities~~Internal COLLABORATION w/City Dept.~~ENTITLEMENTS~

REDEVELOPMENTDOWNTOWN:~Prime LOCATION:

-FREEWAY access (91FWY & I-15)-High VISIBILITY-Near PUBLIC TRANSIT-Adjacent to MEDICAL hub

~Development Options – MIXED USE~Agency role –POSSESSION

-Corona Mall (17 prop. – approx. 12 acres)-West of Corona Mall (12 prop. – approx. 3acres)

REDEVELOPMENT

NORTH MAIN STREET

REDEVELOPMENT

North Main Parking StructureConstruction Start: January 2008Est. Construction Completed: July 2009