Waterbury Downtown October 29 2009

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Waterbury VT Downtown Planning Study Presentation 2009-10-29.
Please note: This is a work in progress, posted for discussion purposes only. There is discussion in this presentation of how VT's tax increment finance and local option tax work that was included at the request of the committee, and no proposal or recommendation has been made - just a starting point for an important discussion of how these tools could work.

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Waterbury Downtown October 29 2009

  1. 1. WATERBURY DOWNTOWN STUDY Waterbury Downtown: Present  Future Public Workshop Thursday, October 29, 2009 7:00 PM
  2. 2. WATERBURY DOWNTOWN STUDY Waterbury Downtown: Present  Future Revitalizing Waterbury Waterbury Planning Commission Waterbury Village/Town Staff GMCR and Central Vermont Regional Planning Commission VHB Pioneer Timothy Duff, Architect
  3. 3. WATERBURY DOWNTOWN STUDY Present  Future  Completing the Waterbury Downtown Study • Connector roadway and rail crossing, from Demeritt Place to Pilgrim Park • Options for infill development • Evaluation of the Stone Shed • Financial Analysis • Downtown Master Plan  Tonight: • Financing Options & Ideas • Downtown Master Plan “Action List”
  4. 4. WATERBURY DOWNTOWN STUDY Tonight’s Agenda: 1. The 3-D View: GMCR & CVRPC Sketch-Up Team 2. Downtown Master Plan 3. The Stone Shed: Options & Ideas 4. Financing Options & Approaches 5. Group Discussion: Action List
  5. 5. WATERBURY DOWNTOWN STUDY GMCR and Central VT Regional Planning Commission SKETCH-UP MODEL
  6. 6. WATERBURY DOWNTOWN STUDY Downtown Master Plan Overview
  7. 7. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements  Maintaining the residential, “leafy” character of Main Street near Demeritt Place  Drainage issues if infill development occurs
  8. 8. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements •Connect Pilgrim Park to Demeritt Place with a new connector roadway •Upgrade the railroad crossing and Demeritt Place to handle tractor-trailers •Relieve Park Row/Main Street intersection
  9. 9. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements  Consider infill development on Demeritt Place site, behind Batchelder Street – Potential options for housing
  10. 10. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements  Ways to make the State offices more of a community amenity • River access • Community garden on the horseshoe • Art walk/solar installations along river path
  11. 11. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements  Consider introducing some retail and service uses into Pilgrim Park – potentially in Station Lumber building (or on the site)  Enhance visibility, friendliness of parking  DRAW and LINK visitors to retail core
  12. 12. WATERBURY DOWNTOWN STUDY Master Plan: Key Elements  Focus on Waterbury‟s retail core!  There is huge interest in having more places to shop locally  Restaurants are a great anchor  Pursue redevelopment opportunities
  13. 13. WATERBURY DOWNTOWN STUDY Retail Core: CONTINUITY!  Ground-floor rrontage in this section of Main from Park Row to Stowe St. potentially should be mandatory retail or restaurant  Draw foot traffic through  Enhance sidewalks  Clean up & sign the parking! No!
  14. 14. WATERBURY DOWNTOWN STUDY Retail Core: CONTINUITY!  Idea to “link and draw” pedestrians from Park Row and train station up in and through the retail core  Untapped idea: Sculpture contest and art walk
  15. 15. WATERBURY DOWNTOWN STUDY Retail Core: Redevelopment More of this… …less of this.
  16. 16. WATERBURY DOWNTOWN STUDY Key Redevelopment Site: Stone Shed & Bidwell Lane  Public meeting: THEATER/ gathering space  Support for Bidwell Ln. Extension
  17. 17. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The Stone Shed was most likely constructed in the 19th century supporting several uses and many alterations over the years.  Former uses include processing quarried stone and as an iron foundry.  Currently used as a warehouse.  The building is centrally located within the village core and adjacent to municipal parking.
  18. 18. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  19. 19. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  20. 20. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  21. 21. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  22. 22. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  23. 23. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  24. 24. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The existing wood framed post and beam structure has numerous alterations. Most likely much of the roof framing has been replaced during the life of the structure.
  25. 25. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  26. 26. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The existing wood framed post and beam structure has numerous alterations. Most likely much of the roof framing has been replaced during the life of the structure.  There are original portions of the building throughout including:
  27. 27. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The existing wood framed post and beam structure has numerous alterations. Most likely much of the roof framing has been replaced during the life of the structure.  There are original portions of the building throughout including:  Clearstory wall framing
  28. 28. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  29. 29. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The existing wood framed post and beam structure has numerous alterations. Most likely much of the roof framing has been replaced during the life of the structure.  There are original portions of the building throughout including: • Clearstory wall framing • Original wall framing and siding
  30. 30. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  31. 31. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions  The existing wood framed post and beam structure has numerous alterations. Most likely much of the roof framing has been replaced during the life of the structure.  There are original portions of the building throughout including: • Clearstory wall framing • Original wall framing and siding • Framed window openings in exterior walls
  32. 32. WATERBURY DOWNTOWN STUDY STONE SHED – Existing Conditions
  33. 33. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  34. 34. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  The building will require substantial amounts of work in order to adapt it for reuse.  Building Utilities: • Existing 6” water service should be adequate for any use, but the fire protection system is antiquated and will have to be replaced.
  35. 35. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  36. 36. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  The building will require substantial amounts of work in order to adapt it for reuse.  Building Utilities: • Existing 6” water service should be adequate for any use, but the fire protection system is antiquated and will have to be replaced. • 4” sewer service should support a variety of potential uses.
  37. 37. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  The building will require substantial amounts of work in order to adapt it for reuse.  Building Utilities: • Existing 6” water service should be adequate for any use, but the fire protection system is antiquated and will have to be replaced. • 4” sewer service should support a variety of potential uses. • The existing electrical service is too small and will not support any adapted reuse.
  38. 38. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  39. 39. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  40. 40. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  The building will require substantial amounts of work in order to adapt it for reuse.  Building Utilities: • Existing 6” water service should be adequate for any use, but the fire protection system is antiquated and will have to be replaced. • 4” sewer service should support a variety of potential uses. • The existing electrical service is too small and will not support any adapted reuse.  Assembly uses will require a substantial upgrade to the building structure.  New exterior finish, thermal envelope, HVAC, plumbing and electrical systems will be required.
  41. 41. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  Lack of day lighting and egress access limits effective reuse for residential uses.  It is recommended that additions be removed back to the original building form to create more functional, usable space and reduce the amount of building square footage required to be upgraded.
  42. 42. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse
  43. 43. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  44. 44. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  45. 45. WATERBURY DOWNTOWN STUDY STONE SHED –Potential for Reuse
  46. 46. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse
  47. 47. WATERBURY DOWNTOWN STUDY
  48. 48. WATERBURY DOWNTOWN STUDY
  49. 49. WATERBURY DOWNTOWN STUDY
  50. 50. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  Lack of day lighting and egress access limits effective reuse for residential uses.  It is recommended that additions be removed back to the original building form to create more functional, usable space and reduce the amount of building square footage required to be upgraded.  Current building footprint of over 12,000 square feet would reduce to 8,200 square feet.
  51. 51. WATERBURY DOWNTOWN STUDY STONE SHED – Potential for Reuse  Previous group discussions have centered on community uses such as theater/performing arts.  A potential for a 150 seat theater and adjacent multi-purpose space.
  52. 52. WATERBURY DOWNTOWN STUDY
  53. 53. WATERBURY DOWNTOWN STUDY
  54. 54. WATERBURY DOWNTOWN STUDY COST ITEMS in the MASTER PLAN  Connector Road (@$1.3 million)  Drainage improvements behind Main St. near Demeritt Place  Redevelopment sites esp. Stone Shed $  Community garden initiation  Parking area spruce up and signage  Sidewalk improvements  “Art walk”/competition/installations  River access
  55. 55. WATERBURY DOWNTOWN STUDY Dear Santa Claus, We have been a very good town and village this year. Cost Items Avenues  INFRASTRUCTURE  CDBG, TIF, bonding  PUBLIC FACILITY  USDA-RD  ECONOMIC  BID, Local option ENHANCEMENTS  RECREATION  FISH „N CRITTER, RECREATION  COMMUNITY SOURCES GARDEN  **ENERGY
  56. 56. WATERBURY DOWNTOWN STUDY Tax Increment Finance: The Basics  Allows the municipality to capture some or all of the incremental increase in taxable value in a specific geographic area, and pledge that future revenue towards the payments on a municipal bond for infrastructure improvements that are DIRECTLY RELATED to enabling the increase in taxable value. (got that?)
  57. 57. WATERBURY DOWNTOWN STUDY Town Tax Rate 2008 Grand List: $7,097,523 Taxes Necessary for General Fund & Highway: $1,853,455 Total Town & School Tax Rate Homestead: 1.3674 Non-Residential: 1.5007 Village Tax Rate 2008 Grand List: $1,976,734 Taxes Necessary for General Fund: $323,260 Total School, Town Village Tax Rate Homestead: $1.5498 Non-Residential: $1.6831
  58. 58. WATERBURY DOWNTOWN STUDY Tax Increment Finance: Issues  Must apply to Vermont Economic Progress Council (VEPC) for TIF approval  Requires formal authorization by the voters; not clear if Town or Village or both would be bond issuing authority  Must demonstrate that the new increment of growth would not happen BUT FOR the infrastructure investment  Must send 25% of the incremental tax revenue to Montpelier  **Must reserve as much or more of the MUNICIPAL increment towards the TIF as you do the Statewide  Non-taxable properties don‟t pay their way (i.e. municipal buildings, stone shed) unless space is leased from a taxable entity  Annual audit and compliance costs
  59. 59. WATERBURY DOWNTOWN STUDY Tax Increment Finance: WHAT’S THE POSSIBLE ‘I’?
  60. 60. WATERBURY DOWNTOWN STUDY Pilgrim Park  Potentially 3 new buildings  Not clear what timing will be  Would be a MAJOR component of a TIF.
  61. 61. WATERBURY DOWNTOWN STUDY Demeritt Place Site plan done for @ 20,000 SF office and parking Could also support office with @ 14 units of housing Neighborhood concerns Drainage issues need to be dealt with
  62. 62. WATERBURY DOWNTOWN STUDY Bidwell Lane/Stone Shed/Station Lumber Strong interest in redevelopment that connects Waterbury Square to the Stone Shed All groups tended to have some element of a gathering or performance space/theater in this area Parking needs to be evaluated carefully Needs intensive economic development plan/effort…but could be worth it!
  63. 63. WATERBURY DOWNTOWN STUDY Mid-Downtown Site Identified in public workshop as good site for offices, similar to medical center No discussion with landowners Access would need to be worked out
  64. 64. WATERBURY DOWNTOWN STUDY Fire Station ALL of the public meeting work groups discussed redevelopment of the Fire Station site; some included land up to the Town Office. Clearly, not consensus on this with Village leadership. Represents the “missing front tooth” in the retail district from Park Row to Stowe Street. Stong case that this site needs to be re-imagined as a key development node.
  65. 65. WATERBURY DOWNTOWN STUDY Thoughts for Waterbury Downtown:  Redevelopment initiatives will require multiple and developer- driven funding sources.  Other projects are smaller, innovative…and more challenging to fund through “regular” sources  **Ideal scenario is an annual “force account” for small projects like the parking, art walk, river access, etc.  TIF is a possibility…but must be VERY SPECIFIC about what it‟s for and the reasonable likelihood that the development will occur  Also must balance against the cost and complexity of approval
  66. 66. WATERBURY DOWNTOWN STUDY Other Financing Thoughts: Where money is today  USDA Rural Development: • Can a local business or consortium be created that can take on the Stone Shed and work with USDA through its implementation grants?  E N E R G Y: • The big money today is in ENERGY! • What are the opportunities for Waterbury to make renewable energy part of the strategy for funding the art walk?
  67. 67. WATERBURY DOWNTOWN STUDY Other Financing Thoughts: Where money is today  USDA Rural Development: • Can a local business or consortium be created that can take on the Stone Shed and work with USDA through its implementation grants?  E N E R G Y: • The big money today is in ENERGY! • What are the opportunities for Waterbury to make renewable energy part of the strategy for funding the art walk?
  68. 68. WATERBURY DOWNTOWN STUDY Other Financing Thoughts:  A local option (please put away the firearms) would not be a bad way to develop a “force account” for investments in the downtown, which could be supplemented with grants.  Some of the key competitive retail markets to Waterbury already have a local option tax: • Williston/Taft Corners but not Berlin  Question…how do you work with Waterbury Center, Ben & Jerry‟s, and the Shaw‟s, where a lot of the retail sales are generated
  69. 69. WATERBURY DOWNTOWN STUDY Current taxable retail receipts in Waterbury: 2008 taxable retail receipts: $30,488,168 2007 taxable retail receipts: $30,506,338
  70. 70. WATERBURY DOWNTOWN STUDY What are the “launch pads” and who can take them on?
  71. 71. WATERBURY DOWNTOWN STUDY  CONNECTOR ROADWAY  STONE SHED For Discussion:  BIDWELL LANE  PARKING IMPROVEMENTS  ART WALK  RIVER ACCESS/WALK  COMMUNITY GARDEN  FUTURE SITES  FINANCING STRATEGIES  RETAIL CONTINUITY/ RESIDENTIAL CHARACTER
  72. 72. WATERBURY DOWNTOWN STUDY Next Steps in the Study:  Finalizing report  Looking in detail and financing options and how they would play out  Incorporating your comments and feedback from tonight  Action items list for key initiatives

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