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Largo devotes more cash to downtown
Commissioners approve using property tax surplus to buy land on First Street SW and West Bay Drive.
By ASHLEE CLARK
Published July 11, 2006
LARGO - Redevelopment may be inching its way toward downtown. Commissioners last week unanimously passed on first reading a $910,000 increase in the community development budget. The money would pay for properties at 65 and 69 First St. SW that were approved for purchase in February. It also would buy properties at 500 and 508 West Bay Drive that the city is expected to purchase by the end of the fiscal year. The money would come from excess property tax revenue that is reinvested into downtown. There is a little more than $1-million in the tax increment fund. The balance will be $90,600 if the money is taken out. The land on West Bay Drive could become a mixed-use property that could include commercial businesses and residences, Mayor Pat Gerard said. The commissioners also voted 5-1 to authorize a purchase of vacant property on Clearwater-Largo Road for $204,000. According to a memo about the acquisition, the property may be used for a public or private drainage system, parking or consolidation for a larger commercial or mixed-use development. "We're hoping to assemble the properties and be a bigger catalyst in getting things done down there," Gerard said. Commissioner Rodney Woods voted against the Clearwater-Largo purchase because there were retention issues in the area that needed to be resolved, he said. "To me, it really seemed like it was rushed," he said. "I just didn't see a great value in the city purchasing that property." Assistant City Manager Norton Craig said purchasing and consolidating pieces of property can be more attractive to potential developers. The commission will turn to local business leaders before any major downtown redevelopments begin. There will be a downtown economic development summit from 8 a.m. to noon July 21 at the Largo Library. The meeting's purpose is to decide on long-term goals for the West Bay Drive Community Redevelopment District, according to the city manager's report. Ashlee Clark can be reached at aclark@sptimes.com or 727 445-4158.
[Last modified July 10, 2006, 19:35:11]
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