2.0. HRSR 03-10-1998 - Laserfiche WebLink

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a movie theater in downtown creates a real sense of activity long into the evening; and some retail establishments are as much a local institution as Monticello's churches and schools. The skills and expertise of the proprietors • of some of the best local stores might become an excellent resource for busi- nesses that are struggling or just getting off the ground. The presence of these features will do more to guarantee the long term viability of downtown than nearly any other action that might be taken. The community should consider each of the following actions early in the process of implementing the downtown and riverfront plan: Related Guiding Principles Establish a Tax Increment District • Partnerships for mutual benefit: The City may need to bridge the gap between what a developer can do and what is desired by the communi- ty;few other resources are as useful for this purpose as TIF. Actions • Establish a development district that encompasses the entire down- town area to ensure that increment generated by all development pro- jects is available to assist in other actions. • Investigate the capacity of other TIF districts to support downtown development activities. Probable Costs • The district is currently being established through the City's HRA. Funding • As the fund is being established concurrent to this plan, no funding is required. Funds may be required to perpetuate the activities of the dis- • trict in the event of new legislation, but this cannot be predicted. Related Guiding Principles Create a Civic/Institutional Core • A center for community: Without question, Monticello needs a place for the community to gather in its downtown for purposes other than business. This place should be one the is accessible to all of the com- munity, with facilities that reflect positively on the character of the community and of downtown. • An identity related to Monticello: When public facilities are created, there should be a sense that they are related; similar architectural themes and materials might be used to create a strong identity in the place where the people of Monticello most frequently come together. Actions • Acquire sites or establish control over sites for future civic facilities. • Pursue development of civic facilities by partnering with other institu- tions and agencies as opportunities are presented. Probable Costs • The most likely first piece of a civic/institutional core would be a fam- ily center developed in conjunction with a National Guard training facility or an organization like the YMCA. There is a fit between the program and activities between the two, and the National Guard has stated that it is their intention to create such a facility in Monticello. The size of a combined facility might total as much as 50,000 square • feet, and have a price tag of approximately $3.75 million to $4 million _ A New Bridge • Revltaltzing Monticello's Downtown and Rlverfront Page 4:3