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Five-year rejuvenation plan is set in motion
By JENNIFER GOLDBLATT, Times Staff Writer NEW PORT RICHEY -- The city plans to spend $20-million over the next five years to rejuvenate neighborhoods and its downtown area, plus plug the hole that will be left when its biggest employer and taxpayer move out. To do that, the city plans to take on $17.9-million in debt. City Council members on Tuesday night unanimously approved a five-year redevelopment plan that includes: $4.2-million to buy the Hacienda Home for the mentally ill and study the best use for it; $1.7-million to improve the recreation center; and $1.7-million to plan for the departures of North Bay and Community hospitals, which hope to move out of the city in five years. The largest part of the plan, $9-million, is devoted to refurbishing neighborhoods: repairing sidewalks and curbs, improving lighting and traffic patterns, and adding trees. "The plans will go a long way for this city and for west Pasco," said Ginny Miller, who along with other City Council members were meeting Tuesday as directors of the Community Redevelopment Agency, the entity which oversees redevelopment funds. Early next year, the CRA will take out a letter of credit with a bank. In 2006, it will issue $17.9-million in bonds that would repay the credit and help pay for future projects. That debt would be retired over 25 years with proceeds from tax increment revenues -- tax dollars from increased property values that are earmarked for redevelopment. The plan assumes that the city's tax base will grow by about 3.5 percent each year, its historical growth rate. But last year, the tax base grew at a much greater rate, by 8.6 percent. The plan "is just a prognostication of how things might evolve," said City Manager Gerald Seeber. "No doubt that it will change as the program matures and as different people get elected and different priorities become known to the CRA board." The City Council will meet as the CRA on Sept. 9 to fine tune the redevelopment fund's operating budget for the upcoming year. Separately, the CRA agreed to give $30,000 to Greater New Port Richey Main Street to help pay operating expenses for the upcoming year. The CRA members voted 4-1 to give the non-profit group the amount it requested, which is the same amount it gave the previous year. Council member Susan Clark cast the dissenting vote. -- Jennifer Goldblatt covers the city of New Port Richey. She can be reached in west Pasco at 869-6229, or toll free at 1-800-333-7505, ext. 6229. Her e-mail address is goldblatt@sptimes.com
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From today's Pasco Times Letters |
