Why are we doing this?

• To create a sense of identity; a sense of community

• To expand services for residents• To serve as an economic engine for the

Village• To diversity our tax revenue

How do downtowns create a sense of identity & community?

• By serving as the community hub where neighbors can meet for a drink, dinner or a shopping spree

• By creating walkable neighborhoods

• Through building design and architectural feature

• By providing open green areas for recreation and mingling

• Through special events tailored for the community

How will this initiative expand services for residents?

• By providing opportunities for new retail establishments, restaurants, shopping, movie theatres, etc…

• Services such as dry-cleaning, hair salons, pet grooming, specialty stores will be close by in a welcoming environment

How will this initiative serve as an economic engine for the Village?

• By creating an inviting environment where people want to live and frequent, which provides better patronage to small businesses.

• By removing outdated regulations that impede new business investments and new development in the area that create jobs

How will this initiative diversify our tax base?

• By growing the non-existing commercial tax base and shifting the tax burden from residents to businesses

• By providing for increased collection of sales tax revenue from the enhanced retail activity

• Through urban design principles that are known to increase property values

Current Sources of Ad Valorem Revenue

Residential - 80%

Commercial - 20%