The Park Boulevard Redevelopment Project Area was established in 1986, covering 43.60 acres. This Area was established to eliminate and prevent the spread of blight through the clearance of blighting buildings and structural improvements; the construction or replacement of public infrastructure, notably along streets and the west end of the Ogden River Parkway; and development and redevelopment of land for commercial and residential purposes.

The main activity undertaken in the Area to date has been the gradual purchase and demolition of properties along Shupes Lane. This has been financed primarily by a loan of $119,464.89 to the RDA from a consortium of local banks led by Key Bank. This loan is being repaid from tax increment generated mostly by the Sun Chase Apartments, which were built shortly after the Area was established.

The RDA has acquired other Shupes Lane properties using tax increment as it became available. The plan in acquiring these properties is to eventually assemble them all into a single large development parcel.

In connection with the establishment of this Area, the City charged the RDA an O & A fee of $8,999.71. This fee was paid from tax increment in FY 90-91, and the Key Bank loan is being satisfactorily amortized from tax increment.

This District is currently providing revenue to the RDA Housing Fund.