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Development tax nixed; what next?
By JOSH ZIMMER
Published August 10, 2005
TEMPLE TERRACE - Humbled by last week's failed referendum, City Council members Tuesday reiterated their support for redevelopment along N 56th Street but promised to seek community input before moving ahead with a new plan.
The city had proposed a massive mixed-use town center project north of the Hillsborough River featuring homes, stores and offices, as well as a new city hall and performing arts center. But on Aug. 2, voters overwhelmingly rejected raising property taxes to help finance the construction, effectively scuttling the $325-million plan of Unicorp National Developments of Orlando.
The referendum, which would have increased property taxes by 1 mill and let the city issue up to $20-million in bonds, was defeated 57 percent to 33 percent. "We know one thing for certain," council member Ken Halloway said. "The citizens are not going to support a tax increase for this project."
However, he urged the public to avoid easy solutions for the site, a once-thriving commercial zone that has fallen on hard times. That means rejecting typical big-box retailers, such as Wal-Mart.
The city has more at stake than pride. The city owes $20-million after signing loans to buy out businesses at the 38-acre site.
Officials say owning the land gives Temple Terrace more control over the site's future. However, repayment on the first $6-million comes due in October 2008, followed by another $12.5-million by the summer of 2009. The result is pressure to jump-start development so the city can start collecting taxes and pay off its debt.
City Manager Kim Leinbach presented the council with a list of options to consider before next Tuesday's meeting. Those included selling all the parcels and letting private developers decide what to build, downsizing Unicorp's $325-million proposal, reopening the process to other developers or simply delaying action for a few months to rethink the project. Presumably, the latter option would let officials touch base with residents, an idea that got widespread support. "Let's call this a period of listening," Mayor Joe Affronti said.
Josh Zimmer can be reached at 813 269-5314 or zimmer@sptimes.com
[Last modified August 10, 2005, 00:36:13]
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