What other public investments are needed for the Town Green Market Development?

The cost required for the quality of design and materials specified by the City for the Town Green Market Development is much more than a typical retail development. Public investment is needed to ensure the quality matches the Town Green and the vision outlined in the Downtown Master Plan. The City and DDA have negotiated a way for this development to proceed using the value of the land and a loan from the DDA to the developer in an amount equal to the equity investment of the developer. This amount is projected to be $3.3 million and will be paid back to the DDA over ten years at three percent interest and will include a bonus of 15 percent ‘kicker’ upon sale to the DDA as a return on the risk it assumed.

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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?