City of Holland Downtown Development Authority. Development Plan and Tax Increment Financing Plan Working Draft

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1 City of Holland Downtown Development Authority Development Plan and Tax Increment Financing Plan Working Draft

2 To be completed: Table of Contents Introduction Map of TIF boundaries Legal description of boundaries DEVELOPMENT PLAN Development Area General Location: The development area generally includes the district zoned as central business district in the City of Holland, as well as area to the north and meets the edge of Holland Charter Township and the Macatawa Greenway. Boundaries: The boundaries for the development area are shown on the map on page x. A legal description of this area is provided on page x. Rationale for Boundaries: The boundaries of the development area have been established to provide the City of Holland and Downtown Development Authority with the best opportunity to prevent deterioration to private and public property, the loss of property values and to promote economic growth in the downtown. The public improvement projects proposed in this development plan occur throughout the development area. These improvements are necessary to encourage further development and to stabilize existing development within the plan boundaries. Location and Extent of Public Streets and Other Public Facilities: The development area includes portions of the following public streets: 1 st Street Pine Avenue 2 nd Street River Avenue 3 rd Street Central Avenue 4 th Street College Avenue 5 th Street Columbia Avenue 6 th Street Lincoln Avenue 7 th Street Garretson Avenue 8 th Street Fairbanks Avenue 9 th Street 10 th Street 11 th Street

3 Existing Land Uses: The majority of the land uses in the development area are commercial and industrial. The primary industrial land uses are located in the northwest corner of the development area. The major commercial area extends throughout most of the southern half of the development area. Other land uses include: public parking lots, residential, federal, State, County and local municipal offices, and park land. For Whose Benefit the Projects Are Being Undertaken: There is no question that a strong downtown is important to our community. The condition of the downtown is often viewed, by residents and visitors alike, as an indication of the condition of the entire area. Downtown acts as a window to the economic health of Holland and to the pride our community has in itself. Additionally, downtown serves as the primary community gathering place with activities, events and amenities that all can participate in and enjoy. As such, a strong downtown plays a role in: 1. Attracting and keeping talented employees for area businesses. 2. Providing opportunities of its own for employment 3. Providing a unique residential setting 4. Serving as the activity center of the community 5. Providing quality, unique shopping and restaurant opportunities 6. Providing a significant tax and charity base to the community 7. Enhancing the quality of life for our citizens 8. Accurately displaying the economic strength of Holland The projects proposed in this development plan will be of direct benefit to the downtown and, as a result, to the entire community. The future renovations will strengthen the downtown as a focal point of our community. Development Plan Public Improvement Projects The following pages contain a summary sheet and detailed descriptions of the public improvement projects proposed in this development plan. Each project description includes an explanation of the project, justification for its inclusion in this plan, its estimated cost, a financing strategy and a timetable for completion. The public projects proposed in this development plan are designed to accomplish the following: 1. To enhance the downtown business atmosphere 2. To stimulate further private development 3. To ensure that those projects current, or about to be, under construction will achieve the success they were constructed for 4. To improve the downtown as a place to live, work, shop and recreate

4 Summary of Development Plan Public Improvement Projects Project Estimated Cost Estimated TIF Contribution Timetable Broadband Infrastructure $250,000 $100, Holiday Decorations $50,000 $25, Directional Signage $200,000 $100, Parking Lot Replacement/Resurfacing $1,500,000 $750, Parking Deck $6,000,000 $4,000, Public Restroom Renovation $100,000 $80, Ice skating rink $500,000 $350, Snowmelt/District Energy $4,000,000 $2,000, Streetscape $3,000,000 $3,000, Urns, benches, trash/recycling cans, led lighting, brick pavers, planter walls/beds Public Art $500,000 $100, $15,800,000 $10,380,000

5 Description of Public Improvement Projects 1. Directional Signage: In 2015 the City of Holland approved a new Master Wayfinding Signage Program to create a comprehensive and cohesive sign program for the entire City, including Downtown Holland. The new design and program was meant to create a family of signs that would improve how visitors experience the community via car and on foot that would also represent the City of Holland s brand standards and heritage in a new, more current way. The City has plans to implement portions of this new wayfinding program in Current downtown signs will need to be updated to reflect this newly adopted sign program and design. City General Fund $75,000 Downtown Parking Fund - $25,000 Tax Increment Financing - $100, Downtown Sound System: The sound system that currently runs throughout Downtown is antiquated and is wholly owned by the Tulip Time Festival Inc. Plans have already begun to replace the ageing system to meet current and future needs. The current system is using outdated technology that is both cumbersome to operate and provides poor quality sound. As a result the sound system is used but only a few times per year and primarily during the Tulip Time Festival held annually in May. The staff and Board of Tulip Time, along with the City of Holland, have partnered to engage a sound engineering firm to create a new sound system that will meet current and future needs of both parties. This system will be designed to expand as the downtown grows and special events change. This new system will also function wirelessly improving the aesthetics in downtown and the ability to use the sound system. Grant - $25,000 Donations - $25,000 Tulip Time - $25,000 Tax Increment Financing - $25, Parking Lot Resurfacing/Replacement: Adequate parking is essential to facilitate business retention and recruitment and residential use. The ability to provide the goods and services desired by the community is key to future stability and strength of the downtown. When recruiting and retaining businesses in the downtown parking is always a consideration. Parking also plays a role in retaining and recruiting quality employees. There are numerous opportunities in Holland where parking is located near the place of employment. If downtown is to stress customer service as an advantage to shopping downtown, quality employees are needed to provide this service. Thus, reasonable employee parking locations must be provided and maintained. In addition, parking is important to downtown residential development. Existing downtown parking lots are beginning to show their age and are in need of resurfacing and in some cases being reconfigured to make most efficient use of the space. Lots expected to be resurfaced include: 7C and 7D. Lots that are expected to be resurfaced and/or reconstructed include: 9B, 9D and 9F.

6 Downtown Parking Fund $100,000 Downtown Parking Assessment $650,000 Tax Increment Financing - $750, Broadband Infrastructure: Fiber Broadband is the best medium and infrastructure for high-speed Internet today. Gigabit service can give the Holland community greater access to educational opportunities with its capacity to download and send larger files, allow development for entrepreneurial in-home businesses through its ability to video network with little to no interruption, and appeal to a variety of households with its ability to stream videos and online game within seconds. The need and ability to transfer data is increasing at a rapid speed and the Holland Board of Public Works and City of Holland believes that the BPW s fiber optic broadband infrastructure is best suited to provide broadband services for Holland. It is believed that the BPW fiber optic infrastructure can provide more reliable service that can be efficiently utilized for several generations and years to come. As such, the BPW has invested in the needed infrastructure throughout downtown; however, additional infrastructure to connect buildings directly to the fiber optic lines are needed. Under this development plan it is recommended that the City invest in those connections directly to the building to ensure that downtown remains competitive in a rapidly changing business environment and attract world-class business headquarters and enable startup companies a competitive advantage. Holland Board of Public Works $150,000 Tax Increment Financing - $100,000