Looking to the Past to Create a Vision

Looking to the Past
to Create a Vision
for the Future
Loudon, Tennessee
Downtown Revitalization and Rehabilitation
Revitalization Starts With a Vision…..
and takes time to build support and implement
•Early 1990s contracted with East Tennessee Design Center to develop a
physical plan for the downtown area
•Early 1990s created Historic District and Historic Zoning Commission
governed by design guidelines
•Mid 1990s contracted with McCarty Holsaple McCarty to develop a
waterfront development plan
•2001 contracted with Cannon and Cannon to develop a fountain
triangle redevelopment plan
•2004 partnered with TVA in developing a concept plan for façade
renovations
•2005 Surveyed Downtown Merchants and Property Owners
•2006 contracted with Jordan Jones and Ghoulding (JJ&G) to develop a 3D
visualization master plan for downtown implementing TVA concept
designs
Revitalization Takes Partnerships
•Successful downtown revitalization programs are generally
private/public partnerships
•Key to public sector’s successful involvement in
downtown redevelopment is to avoid making it overly
political
•City leaders must be absolutely committed to the
process both in word and deed, and be willing and
able to do what it takes to help create the right
environment for private sector development and
investment
Downtown Loudon Revitalization
Partners
City of Loudon
Loudon County
State of Tennessee
USDA Rural Development
Private Investment:
BB&T
Greer’s Home Furnishings
Family Pride Corporation
Loudon Merchants and Property Owners
Association
McGill Karnes Funeral Home
The General Store
Bob Richesin, property owner
Mark’s Diner
The Hair Barn
Robert Harrison, property owner
Randy Jameson, property owner
Annabelle’s Antiques
Donna Siewert, property owner
Southeastern Title and Abstract
Tic Toc Ice Cream Parlor
Max Smith, property owner
Larry LeQuire, property owner
Larry Smith, property Owner
Grayling Littleton, businessman
First National Bank
FSG Bank
American Trust Bank
Suntrust Bank
Tennessee
Valley
Authority
Revitalization Requires Implementing
the Vision…..
•
One of the first step is to decide how to finance
the revitalization and rehabilitation efforts without
burdening the taxpayers
•
Realize that all good things do not happen
overnight. Prioritize your “to do” list and do not
set unrealistic goals
•
Begin building positive support and
momentum for your projects to encourage
new investments
Courthouse Square Revitalization
Act of 2005
• Bill enacted to help local governments revitalize traditional downtown
areas
• Provides funds equal to 5.5% of the state shared sales taxes collected
in specific downtown areas to assist local governments in the
revitalization, preservation, and development of the defined courthouse
square zone
• Taxes collected used at the discretion of the local governments for
revitalization purposes
• Applies to any city designated as county seat with a county population
of less than 120,000
• Pilot program includes two county seats from each of the three grand
divisions of Tennessee (east, middle, and west)
Courthouse Square Revitalization
Act of 2005
• Loudon and Dayton are the two pilot communities in East Tennessee
•
City of Loudon’s Courthouse Square Revitalization is focused on:
-Small Business Development
-Visual Improvement through Façade Rehabilitation (commercial
and residential)
-Streetscape Improvements
• Second year in eight year program
• In effort to kick-start the revitalization program, the City of Loudon
borrowed $1 million to finance the improvements with the sales tax
rebates being used for debt service
Courthouse Square Revitalization
Act of 2005
•
To date 3 grant programs have been established for the commercial
district:
-Commercial Building Exterior Rehabilitation Program
-Commercial Signage Program
-Commercial Awning Program
•
In the process of developing grant guidelines for a residential
rehabilitation program
•
In the process of developing a way finding signage plan
•
In the process of implementing streetscape improvements
Courthouse Square Revitalization
Act of 2005
Total Investment To Date = $2,595,433
Total Grants Awarded To Date = $727,633
Private Investment To Date = $1,867,800
Public Has a 28% Investment
From Vision To Reality
Vision Turned Reality
Vision Turned Reality
$485,000 Investment
$76,000 Grant Received
Public Investment 16%
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
$426,500 Investment
$92,800 Grant Received
Public Investment 22%
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
$541,000 Investment
$89,995 Grant Received
Public Investment 17%
From Vision To Reality
From Vision To Reality
Additional Downtown Revitalization Projects:
Fountain Triangle Redevelopment and Wharf Street Greenway (under construction)
Total Project Costs = $356,000
$102,000 Federal Appropriation
$188,822 Transportation Enhancement Program
$20,000 Private Investment
$45,178 Local Match
Loudon Memorial Bridge Lighting (not yet bid)
$209,000 Federal Appropriation
$41,800 Local Match
Lyric Theatre Rehabilitation and Expansion
$200,000 USDA Rural Development Agency (combination loan and grant)
$25,000 Harriett Grainger Foundation (courtyard renovation and murals)
$61,000 Courthouse Square Revitalization Grants
Private donations through fundraising efforts
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
From Vision To Reality
“Downtown revitalization
requires a high degree of
cooperation and is best
achieved when a unique
„private/public‟ process is
used.” (The Brookings Institute)
Kathy Knight, Assistant Director
Loudon County Economic Development Agency
[email protected]
865-458-8889