By now Im sure most of you have heard about the Kohl's and TJ Maxx site proposal that has passed through the Manchester planning commission. This is a exciting time for Manchester, and a opportunity we are blessed to have.
On Wednesday Manchester officials met to discuss a request put forward by representatives of the Kohl's real estate group. After cuts to the future developments of Kohl's the Manchester project found a $300,000 gab from the initial anticipated expansion budget.
Kohl's is requesting that the City of Manchester help out with the short fall. In the near future the City will be required to hold a public hearing on the matter to garner feedback from the Community.
However I'm not waiting on the hearing, I want to know what you think NOW.
Today I supported a plan to fund some $300,000 in construction cost mainly targeted to the paving of the parking lot (a $275k estimate).
The money would come from the City's general fund and would pay up front for the cost through a plan allowed by the state to use tax funding from a specific area to upgrade that area. The difference in the property tax rate before construction and post construction would go directly to paying back the debt accrued.
It is my estimate that our general fund would be completely reimbursed in a 4 year period.
The positives are obvious, jobs RIGHT AWAY, SALES TAX RIGHT AWAY, and a face for our community to be proud of.
I personally feel this is the first domino to fall, and we need to do whatever we can in a responsible since to make this happen.
On Tuesday night the Mayor announced that all bids for the Police Department have been rejected due to the fact each of them were some $600k over the initial budget $1.4 Million. With that project on the shelf we now have the capital to make a INVESTMENT into our community that will show return on investment RIGHT AWAY.
In 2010 I personally voted NO on the Police Department project ($2 Million + with project completion) and the Parks expansion ($4 Million + with project completion) and stated not only is the city not in the position to fund these projects but they offer no to very little return on investment.
This project is much different. We will see return of our investment with the jobs created, sales tax paid in, and increased property value.
What do you think Manchester?
Join the conversation on RyansReasons.com
Ryan P. French
Alderman; City of Manchester, TN
www.RyansReasons.com
(931) 273-6639
