5.0. 6.0. 7.0. HRSR 02-23-1998 - Laserfiche WebLink

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• Encourage the development of sign programs on Broadway that meet the intentions of the plan's design guidelines, stressing an orientation to pedestrians and integrity related to the original building and the cur- • rent use. • Poll building owners to determine which might be willing to partici- pate in a storefront or infrastructure loan program. • Institute loan program to encourage , private sector redevelopment/rehabilitation of existing structures (storefront loans and infrastructure loans); create "design grants" of no more than $2500 to defray some of the costs of storefront design assistance; tie loan approval to satisfying the design guidelines of this plan. • Explore tax abatement to help fund improvement efforts of individual building owners. • Pursue development of empty sites in accordance with the intentions of the"Broadway: Downtown District." • Create connections between parking areas behind buildings and Broadway in key locations(as conditions allow). Probable Costs • It might be assumed that five loans per year might be provided in each category, with a $25,000 loan maximum for storefront improvements and a $50,000 loan maximum for infrastructure improvements. A design grant related to the storefront improvement would be $2500. The term of the loan program (that is, the period of time which the City determines is appropriate to operate the program) and the cost of the write-down will determine the total cost for the action. • The pedestrian "pass-throughs" would cost approximately $22,000. • Funding • Tax increment financing might be the best source of funds for a loan progarm. • Staff time will be required to organize and initiate loan program; MCP could poll building owners and help them move through the loan, design and implementation process. • Tax abatement might be a likely source of funds for individuals who desire to make improvements on their own. • TIF will be the most likely source of funds for the development of the pedestrian "pass-throughs." Related Guiding Principles Improve Broadway outside • An identity related to Monticello: This road is the introduction to of downtown Monticello for many who use Broadway to get to downtown or to get through the community, yet it says nothing of the community. Actions should be taken in concert with the county's planned reconstruction to make it feel more like a local street — Broadway — than a county highway—CASH 75. • A transportation web: All streets are important to managing traffic in Monticello, but it cannot be accomplished solely by making bigger roads. The configuration of the road is important—allowing for free flow of traffic, but this does not have to mean more lanes of traffic. Also, as the road is planned, accommodation of other transportation modes (bicycles and pedestrians) should be a part of the road's design. • Downtown's neighbors: This street is the "main street" for many of • A New Bridge . Revitalizing Monticello's Downtown and Rlvefront• - Page 4:5