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Interns analysis says $12.6M downtown investment produced $1516M in property-value gains; council adopts related grant ordinance
Summary
A City intern presented an ROI analysis of the Downtown Newton Streetscape, reporting a $12.6 million investment yielded a $1516 million gain in downtown property value; council adopted an ordinance accepting an NC Department of Commerce Rural Downtown Economic Development Grant (up to $475,000).
Alexis Douglas, an intern for the City of Newton, told the council on July 15 that the Downtown Newton Streetscape Revitalization Projects $12.6 million investment from 2015 to 2023 corresponded with an estimated $1516 million increase in downtown property value and is helping position Newton as a regional destination.
Mayor Pro Tem John Stiver…
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