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• By removing outdated regulations that impede new business investments and new development in the area that create jobs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