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As will he shown in the brief Economic Impact Model presented below,the MItC's decisions have resulted in—$5 million in direct economic savings to businesses,residents,industries, churches,agencies of government and the schools. As such,this 2012 Amendment simply seeks to make necessary public adjustments to strategies and projects going forward. Conformity With Previous & Current Comprehensive Plans The original ED/RD Plan and RD Plan were meticulous in asserting the full conformity with all of the developmental parameters of the previous comprehensive plans for the Town. The original ED/RD Plan made specific citations of the Comprehensive Plans from 1968 and 1991, especially with regard to proposed locations and zoning for industrial and commercial development in or near the proposed El)Area and RD Area. The validity of those assertions received a direct legal test and the ED&RD Plans were found to irrefutably conform to the overall plan of development for the community. This 2012 Amendment has reviewed these previous assertions and has found that the current plans for economic development and redevelopment in the ED Area&RD Area continue to conform with the 1968, 1991 and 2004 comprehensive plans for Mooresville. This 2012 Amendment will be presented for review to the Mooresville Plan Commission,and the MEC will make any changes requested to atlirm continued conformity. Recommendations of the 2012 Amendment The 201,2 Amendment to the Economic Development&Redevelopment Plans for Mooresville includes the following recommendations. To expand the ED/RD Areas to include the shopping center in order to potentially assist in redevelopment/reinvestment/update of the existing center; To expand the ED Area to include additional parcels for attracting new industrial development; To adjust the ED Projects in order to respond to changes in market forces that affect the ED/RD Strategies. Recommended Boundary Changes The boundary analysis indicates a need for changing the boundaries of the ED Area(to reflect potential future development of additional property for industrial development purposes). The changes proposed for the RD Area consist primarily of adding the shopping center in order to assist redevelopment efforts in that location. The addition of the SR67 right of way to the ED/RI)Areas is undertaken to explicitly clarify(he intent of the MRC to potentially undertake gateway projects for the purposes of reinforcing"Mooresville"as a brand and a destination. All of the recommendations with regard to boundaries are offered to enhance the potential for TIP revenue capture,as well as supporting growth for the Town.It should he understood that sonic or the parcels suggested for ED/RU Area expansion are not currently within the Town's corporate limits and thus cannot be added to the ED or RD Areas without the express cooperation and concurrence of the Mooresville Town Council through annexation. If annexation of these parcels is undertaken, it is anticipated that the annexation will be 100% voluntary. • 3 Mooresville Economic Development&Redevelopment Plans:2012 Amendment (draft,June 27,2012)