Item 4: "City Council Discussion Regarding use of Downtown Urban Renewal Agency Funds for Downtown Projects and the Minto Brown Bridge." There's no staff report, and no recommendation. It's a little buried.
Last Monday, Council voted to reallocate $3 million in Urban Renewal funds (details here). These funds would be redirected from:
$1,300,000 - Reduce Existing Toolbox Loan Program FundsIt wouldn't be surprising if some downtown business representatives have made objections and some supporters of the reallocation might be having second thoughts. If so, this could prompt more discussion and even reconsideration.
$1,000,000 - Reduce Demonstration Grant Allocation
$150,000 - Eliminate Streetscape Funds
$550,000 - Reduce Ending Fund Balance
$3,000,000 - TOTAL
More to come, I'm sure. (Maybe there's another explanation entirely?)
Otherwise there's nothing specifically relating to transportation on the agenda - though there are other matters of interest, of course.
2 comments:
The downtown partnership is lobbying for urban renewal funds for the streetscape plan but Riverfront Park is not in the urban renewal district. Just one theory.
Ah. The fact that DAB voted for the reallocation suggested the Downtown Partnership was perhaps on board. But what you say makes sense about wanting funds for the streetscape project.
(Though it doesn't affect your larger point, Riverfront Park has already been included in the renewal district - the district was even gerrymandered a bit to include the landing of the bridge on the Minto side! See the map here.)
Post a Comment