In his presentation of the Main Street and Court Square renewal plans before the Springfield City Council last night, Chief Development Officer David Panagore explained the source of the funding. Earlier in the day, the matter arose at the Finance Control Board meeting, where the imperiled trash fee threatened some vital capital improvement projects. Not this one.
Panagore said, "We’re looking to use the remaining funds in the $4.7 million bond issue from 2002, in conjunction with $1 million in state grants—a CDAG grant—plus about $260,000 of Chapter 90 funds, to first do $2.2 million of improvements to Main Street from the arch down to Union Street. We would hope to be able to begin those, our plans and specs, starting right after the first of the year, so that we would be able to be under contract by the start of construction season. In the best of all possible worlds, we’d like to be able to achieve this over the coming year’s construction cycle."
"The second phase of the project," Panagore continued, "would be to finish assembling the properties surrounding 31 Elm. To complete the acquisitions that are required, there is one business there, who has been provided notice. This is no different than the 2002 initiative, which required the taking of that property, the relocation of the business. That never occurred. That would be occurring going forward, with the approval of this body and the approval of the state."
"There’s a few other small parcels of vacant property," Panagore added, "that we need to either finalize the acquisition of through the tax-title foreclosure process, or acquire from the prior ordinance of the 31 Elm property, the Court Square LLC. The uses [for that building] are outlined in the urban renewal plan: residence [and] hotel are the two principal ones. We would also be looking for retail at the street level, to restore retail that wrapped around that building previously, that folks tell me was excellent retail, and a good use. We’ve already completed improvements to the Court Square park itself—that was over $500,000 last year, and this would enhance those."
Panagore went on to describe the bureaucratic process the plan has undergone thus far. "What’s before the Council this evening is the last in a series of local approvals required for major land change amendments," he said. "The first is that the Planning Board vote that it’s in conformance with the plans of the city. They did so on November 1. The second is that a public hearing be held, and that the [Springfield Redevelopment Authority] board vote its approval. Both of those, with due notice to all affected owners, occurred on November 20, and I can report back that the SRA board voted also in favor of the project. The third step is the City Council."
"A fourth step was required upon advice of bond council," Panagore said, "which was that the original bond issue, the language of it, which said, ‘$4.7 million appropriated for the purposes of Court Square #8,’ to be on the safe side, should be amended to say ‘and #9.’ And bond council also recommended that that happen at the Finance Control Board, because the bond holders would look to their final authorization. That was accomplished this morning."
"If this meets the approval of the City Council this evening," Panagore concluded, "we would then go to the state, the department DHCD for their final approval, looking to be able to be in place to start this project with the new year, so that we really begin construction and stay on course with this development to achieve our goals in 2007."
After the City Council’s unanimous vote to approve the project—has City Council ever voted to stop projects?—Panagore introduced a new hire in the Planning and Economic Development Department, Brian Connors, previously the economic development director in Lowell. Connors is now the project manager for the Main Street and Court Square improvements—his first project in his new position. Some may recall that the Urban Land Institute assessed Lowell (PDF) a few years ago and made some recommendations; the buzz about that city has been very positive ever since. Perhaps Connors brings with him an appreciation for the underdog.
