Town Center Initiative MCKINNE Y T OWN CE NT E R ST UDY INIT IAT IVE PHASE 2 City Council Special Work Session 1 January 25, 2010 JK 1
Town Center Initiative Pha se 1 F oc us Are a s Historic Downtown Future Transit Village Corridors (SH 5, Kentucky/ Tennessee, & US 380) Residential Neighborhoods 2 KS 2
Town Center Initiative 3 KS 3
Town Center Initiative Pha se 1 Suc c e sse s • Redesign of Downtown Square • Recognizing the importance of existing neighborhoods throughout the Phase 1 process and resulting Master Plan (i.e. outlined preservation concepts) • TxDOT recognizing SH 5 as a viable and important east-west connection (i.e. Sustainable Development grant) • Consensus on preferred redevelopment concepts • Stakeholder and City Council approval of preferred concepts and Master Plan • Continued stakeholder buy-in and support On-going communication (Town Center Connection newsletter) 4 KS 4
Town Center Initiative Pha se 1 Suc c e sse s Redesign of Downtown Square 5 KS 5
Town Center Initiative Pha se 1 Suc c e sse s Recognizing the importance of existing neighborhoods Historic Neighborhood Improvement Infill that contributes to the Zone (HNIZ) Tax Exemption Program character of the Town Center 1105 W Hunt before 1105 W Hunt before 1105 W Hunt after 1105 W Hunt after 6 KS 6
Town Center Initiative Pha se 1 Suc c e sse s TxDOT recognizing SH 5 as a viable and important east- west connection 7 KS 7
Town Center Initiative Pha se 1 Suc c e sse s Consensus on preferred redevelopment concepts REDEVELO PMENT O F T HE C O T T O N C O MPRESS SIT E C O ULD T RANSFO RM T HE AREA INT O C ULT URAL DEST INAT IO N. IL LUST RAT IO N SHO W T HE PRESERVAT IO N O F KEY HIST O RIC FEAT URES. IL LUST RAT IO N O F PEDEST RIAN IMPRO VEMENT S IL LUST RAT IO N O F BUIL DING SC ALE APPRO AC H AT HIST O RIC C O URT HO USE SQ UARE (MPAC ) USED AT T RANSIT IO N ZO NE SHO WS T HE LESSENING SHO WS WIDER SIDEWALKS, NEW LANDSC APING , O F INT ENSIT Y IN T ERMS O F BUILDING USE AND ST REET FURNISHING S, IMPRO VED PEDEST RIAN AC C ESS, AND REPAVED ST REET S. MASS. 8 KS 8
Town Center Initiative Pha se 1 Suc c e sse s In March 2008, the Town Center Study Phase 1 Report, Shared Vision, and Master Plan were approved and adopted by reference into the Comprehensive Plan and now serve as a meaningful policy guide for city officials, staff, property owners, and private developers when considering decisions in the Town Center. Phase 2 of the Initiative kicked off in early 2009. 9 KS 9
Town Center Initiative Pha se 2: Ana lysis of Imple me nta tion • Identify current obstacles to realizing the vision • Analyze, craft, select, relate, and phase the appropriate implementation components into a comprehensive action plan that will truly allow the vision and revitalization of the Town Center to be achieved and sustained over time. • Over the last year, Staff and the Consultant team have been working on several components for Phase 2 of the Initiative. • Inventory of existing land uses & quantification of physical buildout of Phase 1 vision (100% complete) • Market Feasibility Analysis (100% complete) • Comprehensive Parking Analysis , including site feasibility analysis for a parking structure (95% complete) • Analysis of Existing Development Regulations and Anticipated Capital Needs (30% complete) • Establishing a Town Center Business Plan (10% complete) 10 KS 10
Town Center Initiative Bring ing It All T og e the r 11 KS 11
Town Center Initiative E c onomic F ounda tion for Susta ine d Va lue 12 SP 12 12
Town Center Initiative E c onomic F ounda tion for Susta ine d Va lue Conventional Development • single use pods of development • buffers instead of transitions • narrowly stratified market • planned obsolescence • value drops when the original use is no longer viable 13 SP 13 13
Town Center Initiative E c onomic F ounda tion for Susta ine d Va lue Sustainable Development • mixed use • transitions instead of buffers • broad market • planned to endure • value holds when the current use is no longer viable (because of reinvention) 14 SP 14 14
Town Center Initiative Ca ta lyst Proje c ts Ide ntifie d in the Ma ste r Pla n Private Catalyst Projects • Rail Station and Transit-Oriented Development Core (Flour Mill, McKinney Metals) • Cotton Compress site into an educational or cultural campus • Revitalization of Dungan St. Public/Private Catalyst Projects • Adaptive reuse of Collin County Courthouse site into a mixed use campus • Entertainment District (or some other character-specific district) Public Catalyst Projects • Key Streetscape Connections (Virginia St./Louisiana St.) (Chestnut) • Downtown Parking Structure • State Highway 5 Improvements 15 SP 15 15
Town Center Initiative Catalyst Proje c ts and the 2010 Bond Pac kage 16 SP 16 16
Town Center Initiative Cre a ting the Public - Priva te Pa rtne rship What We Want to Accomplish • Attract investment • Leverage assets • Adjacency predictability • Sustained value How We’re Going to Get There • Form-based development regulations (zoning, subdivision ordinance, street design standards) • Targeted public improvements • Value reinvestment tools (TIF, PID, Ch. 380, etc.) • Synchronize the “carrots” and the “sticks” 17 SP 17
Town Center Initiative T he Ne xt 90 Da ys Fiscal tools analysis (money in) Targeted public improvements (money out) Development regulation reform (zoning ordinance, subdivision ordinance, street design standards) 18 JA 18
Town Center Initiative T he Ne xt 90 Da ys Fiscal tools analysis (money in) What are the potential fiscal tools? Which ones should we use? TIF/TIRZ (Tax Code Ch. 311) Evaluate TIF feasibility (zone configurations; revenue projections) Pros vs. Cons Is a TIF the appropriate tool for the Town Center? Public Improvement District (TLC Ch. 372) Evaluate PID feasibility (zone configurations; assessment rates; revenue projections) Pros vs. Cons Is a PID the appropriate tool for the Town Center? Chapter 380 Agreements (TLC Ch. 380) Is it the appropriate tool for the Town Center? Under what circumstances should this tool be used? Property Tax Abatements (Tax Code Ch. 312) Is it the appropriate tool for the Town Center? Under what circumstances should this tool be used? 19 JA 19
Town Center Initiative T he Ne xt 90 Da ys Targeted public improvements (money out) • Take inventory of existing public infrastructure • Identify the future public improvements needed to support the catalyst projects • Estimate probable costs of needed public improvements • Based on the outcome of the 2010 Bond Election, begin to integrate prioritized public improvements with selected fiscal tools 20 JA 20
Town Center Initiative T he Ne xt 90 Da ys Development regulation reform • Identify regulations that are currently obstacles to realizing the preferred concepts of the vision • Outline potential form-based zones based on preferred concepts and character • Host community meeting to involve stakeholders and gain feedback 21 JN 21
Town Center Initiative Downtown Master Plan Owensboro 22 JN 22
Town Center Initiative Existing Zoning 23 JN 23
Town Center Initiative Form-Based Code Character Zones � Historic Core � Downtown Core � Riverfront Core � Riverfront Edge � Downtown Transition � Frederica Blvd. Corridor � Downtown Campus � Neighborhood 24 JN 24
Town Center Initiative Form & Development Standards by Character Zone (Historic Core) 25 JN 25
Town Center Initiative Overall Design Standards for Downtown Re-development 26 JN 26
Town Center Initiative Focused Action Coordinated Effort Phasing the Master Plan Linking the Tools Synchronizing the “carrots” & the “sticks” 27 JK 27
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