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Trustees direct staff to pursue funding for Southwest Promenade while continuing broader town‑center financing work
Summary
After extended discussion on financing strategies, trustees authorized staff to pursue near‑term grant and tax‑credit opportunities for a Southwest Promenade housing/commercial prototype while directing staff to continue exploring comprehensive financing options for the larger Sixth Street/town‑center development.
Trustees gave staff direction on March 12 to pursue near‑term funding opportunities for a proposed Southwest Promenade mixed‑use prototype while continuing a parallel effort to develop a comprehensive financing strategy for the larger Town Center site, including Sixth Street.
Why it matters: Town Center redevelopment has been discussed for decades. The site has both residential and commercial components; trustees and staff said financing choices will determine whether development can deliver affordable and middle‑income housing, activate commercial storefronts and preserve downtown character.
Staff proposal: Consultant Andrew presented multiple scenarios. One phased scenario would develop the Southwest Promenade first: a…
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