Title
Discussion and Possible Action Authorizing a Study on the Economic Revitalization of Historic Mansfield, Potential Public Improvements, Zoning Amendments and Funding Mechanisms Including a Possible Tax Increment Reinvestment Zone
Requested Action
To consider the recommendations of the Council Subcommittee on Historic Mansfield Economic Revitalization.
Description/History
After meeting among themselves and with stakeholders in Historic Mansfield, members of the Council Subcommittee are prepared to make a report to the entire City Council and recommend public improvements to include:
1) Tree islands within existing parallel parking spaces on Main Street
2) Trail connections to Walnut Creek Linear Park
3) Land purchases in relation to downtown revitalization projects
The Subcommittee will recommend that the City pursue a TIRZ (Tax Increment Reinvestment Zone, aka TIF) before the end of 2012 to generate funding for these and other improvements.
Staff also recommends hiring a planning consultant to conduct a comprehensive study on future revitalization, zoning and investment strategies. The study will generate more ideas on public improvements and form a foundation for future zoning, investment and funding.
Justification
See information above
Funding Source
Not applicable
Prepared By
Felix Wong
Director of Planning
817-276-4228