Compromise reached on 18th and Vine

18th-and-vineThe city council has shaped a compromise for improvements at the 18th and Vine Jazz District.

A new ordinance on an eventual $27.6 million in projects surfaced Tuesday at a council work session.

The ordinance is expected to go to the full council Thursday for a final vote.

It would fund $7 million in key projects for phase one with no specific amounts listed for phases two and three.

Plan for 18th and Vine Improvements

The ordinance says the city will pay for those phases, “in conjunction with other private and public participation.”

It also would transfer property to the city and specifies that an experienced property management firm will be hired to assist in redevelopment, management, marketing and operations.

Fragmented management and operations in the area have been a problem in the past, officials say.

Establishing a retail presence, identity and professional property management will attract new tenants and allow for better promotion of events, the ordinance states.

The hope is it will also pull in private investment.

Also, one third of the debt service on the bonds for phase one will be paid by 3rd district Public Improvement Advisory Committee funds.

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