Volusia County Council Meeting August 9, 2012.  City Commission acts as CRA Board.

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Presentation transcript:

Volusia County Council Meeting August 9, 2012

 City Commission acts as CRA Board

Downtown Master Plan Update (2007) depicts preferred concepts that reflect the existing and desired vision articulated for the Creek, River and Ocean Districts. Creek District – Intended to enhance the existing suburban style development pattern. River District – Traditional downtown appearance enhanced with similar form and function. Ocean District – More intensive infill housing with mix use development along Granada and the side streets. Today The Vision

Issue SummaryStrategyImplementation Nondescript buildingsphysicalDesign guidelines Bldg. conditionsphysicalImprovement grants Substandard infrastructure physicalStormwater and utility improvements Maximize use of OSphysicalOS venue improvements Taming of SR40physicalStreetscape improvements Suburban characterregulatoryEmphasize form – not use Lack of pedestriansBus. supportCreate special events Business vacancyBus. Assist.Marketing, advertising

Downtown transformation 195 W. Granada 136 W. Granada 50 New Britain Vinning Court Streetscape W. Granada (Under Construction) Public Way Signage 362 W. Granada

ProjectCost Vinning Court Streetscape$425,300 Public Way Signage$93,100 Building Improvements Grant$106,000 LED Street Light Conversion$432,000 Stormwater Master Plan & Conceptual Permit$125,000 Total spent or obligated$1,181,400

ProjectPrivate Investment $ 362 West Granada Boulevard$192, West Granada Boulevard$450, West Granada Boulevard$207, New Britain$112, West Granada$327,000 Total$1,289,993 Leverage ratio: ($1TIF:$4.30 Private)

DescriptionProject CostFund Balance Balance as of $3,069,851 Stormwater Implementation$500,000$2,569,851 Underground Utilities & Landscape Median - Granada $1,700,000$869,851 Thompson Creek Bike Trail$298,250$571,601 LED Side Street Light Conversion$130,000$441,601 Property Improvement Grants$425,000$16,601 Transit Assistance$16,601$0

 100% of all TIF expended revenues benefit residents and businesses in the CRA District. No administrative costs are charged to the CRA District.  The contributing TIF partners to this redevelopment effort benefit from the demonstrated confidence exhibited by private sector capital investment in the downtown CRA. On behalf of Ormond Beach & the City Commission, thank you for the support and an opportunity to share our story with you.