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Council hears concepts for Trader’s Village catalyst site; staff estimate $4M–$4.8M net annual fiscal impact at buildout
Summary
Staff presented nine catalyst sites for the Epicenter plan including conceptual options for Trader’s Village; the economic review estimates a net net fiscal impact of $4,000,000–$4,800,000 per year and a roadway connection cost of roughly $3–$4 million.
Sean Jackson, Planning and Development Director, walked the council through nine catalyst sites intended for redevelopment study and said Trader’s Village was seen as both culturally significant and an opportunity for mixed commercial, parking and residential transitions. "Trader's Village itself noted as number 2 and 3," Jackson said while showing the conceptual layouts.
Jackson told the council a consultant economic review estimated an "Annual fiscal impact would be, net impact revenue of $4,000,000 $4,800,000 a year." He also said a primary roadway connection (the form-drive connection) would be "approximately 3 to $4,000,000" in current estimates; he cautioned that the numbers are concept-level and could change. When asked whether staff had talked to Trader’s Village operators yet, a council member asked, "Have you guys talked to Traders Village at all about this?" Jackson replied, "No," and emphasized the concepts are intended for use in future discussions with property owners.
