What are the financial implications?

All three of these proposals are attractive, and as mentioned previously, subject to extensive design and appearance guidelines, as well as prohibitive use restrictions. These types of guidelines and restrictions are what ‘placemaking’ is all about – and they are expensive. Any developer measures the investment costs required when the quality of materials used, the design, and the appearance are specified. Getting the type and quality of development the City desires has a cost – but will pay huge dividends for generations.    

Fortunately, previous City and DDA leaders have provided the tools to invest in this placemaking initiative. The recent sale of a DDA-owned building often referred to as the Department of Juvenile Justice (DJJ) building created investable funds for the DDA. The Tax Allocation District (TAD) created years ago is now yielding available tax revenues from the downtown area to invest back into the public infrastructure. Briefly speaking, in a TAD, county property taxes generated above a baseline level, which has now been exceeded, stay IN the City, and can be used on infrastructure investment back in the district.

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1. The BOMC and the DDA have been regularly meeting in executive sessions. Why?
2. Why have you waited to inform the community?
3. What are the proposals?
4. Why are these projects good for the City? As a resident, what’s in it for me?
5. Is there a hotel group associated with the boutique hotel and why 80 to 82 rooms?
6. Is this a done deal?
7. Why is the BOMC presenting these options now?
8. Who is approving the design of these buildings?
9. What about Finders Keepers and Edwin Jarvis? 
10. What are the financial implications?
11. How are you going to fund a parking deck that is reserved for the public?
12. What other public investments are needed for the Town Green Market Development?
13. Are the live-work units going to require a public investment?
14. Does the hotel need additional public investment?
15. What is the proposed structure for these public-private partnerships?
16. What is the projected schedule?