Downtown Revitalization

URC and Grants in Downtown Franklinton

So, you may recall that there’s been a little bit of a ruckus about the Uptown Revitalization Committee and a potential grant program in downtown Franklinton. I can certainly understand some of the challenges therein. I understand the argument that we shouldn’t use public money for private benefit. However…I’d also argue that we’re doing just that all over the place – why can’t the Town of Franklinton? Private contractors build roads – public money used for a public project, but private enterprise benefits. That may seem like a stretch, but it’s real. I’ve always felt like there were times where we sometimes have to make a small investment to realize a much larger payback.

That’s where the URC grants program comes in. For some property owners, fully correcting the problems of a property they own on Main Street (or Mason Street) in the downtown business district may be a challenge they’re not able to tackle. On the other hand, it may also be a property that fifteen heirs own, and none of them can agree, but one is willing to take the lead and try to get the property sold or rented – but they need to do some minor repairs that nobody has the money for. That’s where I do believe the Town of Franklinton could step in, if in a minor role. If, for instance, an awning costs about $2,000, and that amount is not something the business or property owner can afford, but is a major step in securing an occupant for the building, then yes, I do believe that if the Town has a method of providing a grant for up to half of the amount, then we should. The façade grant program that the URC had planned would have provided up to six grants of $1,000 each, or four grants of $1,500 each, to downtown property owners in an effort to improve the façades of their buildings. This is in the continual effort to improve downtown Franklinton.

Contrary to some opinions, all of the business in Franklinton cannot locate on US 1. There is plenty of room for the ‘mom and pop’ shops to come downtown – and for the bigger box stores to head out to the highway. My hope is for both. Sometimes, we have to stimulate the improvement of buildings to make them attractive to those who are seeking to rent them but can’t fully renovate. However, once they have a patient tenant, they’ll be able to fully renovate over time. That’s the purpose of those façade grants.

As well, there’s been an idea bandied about of a downtown special overlay tax district, where the property tax for the downtown business district would be set at a certain amount, but would be frozen at that amount for a number of years. For instance, the current property tax rate in Franklinton is $0.68 per $100; an overlay might add $0.17 to that to bring it to $0.85, but that figure would not change, and the $0.17 would be directed into a fund specifically to attend to the issues and redevelopment of the downtown business district. Even if property taxes went up, the $0.17 would be redirected to the downtown fund. This tax rate could also have a sunset clause in it, as well. So…is this a great idea? It has its pros and cons. Pro – there’s now funds that benefit all of a specific community of property and business owners. Everyone benefits from upgrades to streets, new streetlights, better sidewalks, etc. Con – it’s more taxes, and everybody’s broke. Where do we draw the fine line? That’s the conversation at hand now.

The URC is still trying to figure out how to make things happen in downtown Franklinton. Wanna help? C'mon out on the second Thursday! We could use the help!