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The Economic Development Authority approved up to $15,000 from its professional services budget for a Phase 3 economic impact study, expected to cost under $15,000 and take about 60 days.
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The study will examine the fiscal effects of potential zoning changes, including by-right development compared with higher-density alternatives. It is intended to help evaluate redevelopment potential and inform future economic development decisions; it does not itself approve any zoning change. The EDA also authorized a memorandum supporting action by the General Assembly.
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