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Waynesville committee backs recommending Business District Improvement Tax to fund $1 million downtown renewal
Summary
Chief Copeland outlined a downtown renewal plan with an estimated cost of about $1,000,000 and asked the Finance Committee to recommend a Business District Improvement Tax that would assess roughly 100 Main Street properties; Mr. Colvin agreed to propose the measure to council and staff will seek bids.
The Finance Committee of the Village of Waynesville on Aug. 18 reviewed a proposal to fund a downtown renewal project through a Business District Improvement Tax that would assess about 100 Main Street property owners. Chief Copeland said the village has set aside money and asked the committee to recommend the tax to village council and direct the village manager to obtain bids.
Chief Copeland presented line-item estimates for the project and detailed the proposed local assessment. "We have put away $420,000 for new light poles, by next year that will be $540,000," he said. Other estimates recorded by the committee included bollards at $195,000, sidewalks at $350,000, lights and wiring at $300,000 and roughly $150,000 in other costs, bringing the total to about $1,000,000. Chief Copeland said the village would cover about 75% of the work; property owners would be assessed their share of sidewalk costs by square footage. The discussion noted payment options: an add-on to property tax over five years (average about $550 per year) or a $2,750 lump sum.
Chief Copeland asked the Finance Committee to recommend the tax to council and to authorize bids for all aspects of the project; Mr. Colvin agreed to present the proposal to council. There was no formal vote on the tax at the Finance Committee meeting; the committee recorded its support for forwarding the proposal and instructed staff to proceed with bid solicitation.
