On TIFs and Town Center

Thursday work sesson open to public

No doubt it won’t be as entertaining as last week’s public forum sponsored by the city's Environmental Quality Coordinating Committee, but Thursday’s special City Commission work session may prove to be far more valuable.
Property and business owners in the Town Center area have been invited to hear, along with the commission, a presentation on tax increment financing (TIF) options available under Tennessee law for the city’s downtown commercial area.
The meeting begins at 5 p.m. in the commission chambers.
So, just what is a TIF anyway?
Attorney Mark Mamantov will share information on what TIFs are, what's needed for them to work effectively, and the legal aspects and requirements associated with their use within the Town Center area.
Rick Delaney from the investment firm Morgan-Keegan will address the practical applications of issuing TIF bonds in today’s credit market; the attractiveness of TIF bonds to investors; the potential risk to the city, and the use of TIF Bonds for projects such as the Nissan headquarters, which opened in Franklin last year.
“This is mainly a meeting to disseminate some facts to the commission through a workshop concerning development of the Town Center,” Mayor Betsy Crossley told me Wednesday. She explained that in a nutshell, TIFs use the property tax increases collected from an improved property to carry out public improvements in the area through the use of bonds rather than using the new taxes to pay for general fund services.
Since Tennessee laws concerning TIFs differ from other states, Mamantov will outline them and answer commission members’ questions.
Private/public sectors must work together
Crossley acknowledged that Thursday’s meeting will be rather limited “since it is regarding a specific technical aspect of development.” She added, however, that she is “happy that there are individuals discussing development in Town Center like (Brentwood architect Walter Kassidon’s) Brentwood Future group. As you have said, there is going to have to be public/private partnership to bring a plan together for the redevelopment.
“… I look forward to continued future dialog with Town Center landowners and developers regarding what the vision for that area should be.”
David Green, spokesperson for the grassroots Citizens for Town Center (www.brentwoodsfuture.org), said the organization is “delighted to see the City Commission examine alternate ideas for moving the Town Center project ahead. While we have not taken a stand on TIF, we think it is a great idea for the city to examine any and all ideas for helping advance the progress of Town Center redevelopment.”
“TIFs are very complicated and can be a great benefit for our city,” Mac Kelton, a Brentwood resident and local investor, said. “It all depends on attitude. If the approach is ‘how can we do this?’ then great ways will be found. If the approach is ‘what can we do to prevent this from happening?’ then we will get different results.
“I am looking forward to see the approach taken. Forward thinking and can-do spirit is needed.”
Respect for property owners' rights
“As a City Commissioner I would love to see the property owners, the chamber and the city all working together to really push and promote this redevelopment,” Commissioner Regina Smithson wrote me. “As I have stated from the beginning, I believe every property owner has a right to develop their property the way they want and on their time table. Our city government can and should only do so much.
“I welcome any and all property owners or any developer with a plan to bring it to me. I will be glad to sit down and do what I can as a City Commissioner to help make it happen.”
The redevelopment of Town Center, defined as the 55 acres roughly bordered by Old Hickory Boulevard, Church Street, I-65 and East Park Drive, has been a major source of hope and frustration since first discussed as a Leadership Brentwood project a decade ago.
So far the city has invested more than $2 million in infrastructure improvements within the C4 Town Center zoning district.

Thursday’s public meeting takes place in the Brentwood Municipal building, 5211 Maryland Way.

Pay no fine before its time .. and other Election Day news

It's a sad state of affairs. At 9:48 a.m. this morning, only 37 people had voted at the Brentwood Library. And that's not the worst news.
The excellent crew working the polls told me they had sent almost as many people away, because they were at the wrong polling station. But that's not the worst news, either.
What could that be? It's like this: My game plan had been to blog from one of the library's incredible array of computers after hanging out for a few hours talking to voters, candidates, etc. I went in, threw off my coat and settled in. I pulled out my handy key chain library card, put in my account number and, voila, was ready to go to work. But no. Turns out I owe a fine and access was denied.
Having no cash, I headed home to blog instead.
All's well that ends well, however. I left my chair at the library and will pay the fine when I return to pick it up. I just hope that when I ask the election crew later today how many have voted the numbers will have turned miraculously upward.

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Dietrich "Deech" Kirk and his daughter Carlisle stopped by the library to vote. They (well make that Deech, Carlisle is 3) were among those directed to another polling place.
"You would think in this electronic age you could vote anywhere in the city, especially in an election where they are expecting less than 20,000 votes," he said before heading to the Brentwood Safety Center on Sunset Road.
He's right about being able to vote anywhere in the city for a municipal election. We should be able to. Unfortunately I don't think he's right about the 20,000 voters. From the looks of it, we'll be lucky to hit 2,000 today.

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Speaking of turnout, Mac Kelton, out campaigning for Devin McClendon early this morning at the library, thinks Brentwood can make history in the 2011 city commission election. He truly believes there's a way to reach 100 percent voter turnout. Talk about breaking national news right here in small-town Tennessee.
He's already thinking and scheming and otherwise trying to figure out how to make it happen. If you have ideas to share, he's open to hearing them!

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Joe Reagan isn't out trying to buy votes this morning, but he definitely is keeping his poll workers happy with a steady supply of Daylight Donuts. Joe is one sweet politician though I did call him evil for trying to compromise my South Beach effort. Thank goodness they weren't chocolate glazed ....

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Well, it's time to get back out among 'em. Check back for more news from the streets, or parking lots as the case may be.