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Monday, Feb. 2, 2015

FORMING PARTNERSHIPS

Working together for quick wins

As you read this, Shreveport’s new mayor will get her feet wet as she learns the ins and outs of one of the largest cities in the state.

Mayor Ollie Tyler’s next four years will no doubt be a roller coaster ride of challenges and opportunities – the adventure of a lifetime.

Shreveport has what is called a “strong mayor” form of government in which the mayor has the power to make things happen and to influence the future of the region in a positive or negative way.

Tyler will have the bully pulpit at her disposal and should learn quickly that her comments can encourage stronger partnerships, excite and encourage developers, and break logjams. Her executive powers can speed contracts and agreements that have stalled, and her timeliness and willingness to use these powers will give people the knowledge that there is strong leadership at the helm.

The mayor will weigh in on both long-term (projects that will outlast her administration) and short-term projects. As downtown continues to rebound and position itself as a vibrant center of residential, retail and office space for the region, there are several quick wins available to jump start excitement.

A New Orleans developer has stepped out as a first mover and is investing millions into three formerly vacant and blighted downtown buildings in the 600 block of Texas Street. His challenge is parking. The city has means through the Parking Enterprise Fund, and with the use of limited incentives to invest small amounts in parking creation that will create big returns. The faster the parking puzzle is solved, the faster (and more successful) the overall project will be.

Another game-changing project is facing the same issues in the 300 block of Texas Street. This developer’s $20 million Petroleum Lofts residential and retail plan is currently in neutral because of the cost of creating parking for the project. In this case as well, a limited incentive could put the project in drive, which would return a major downtown building to the tax rolls and create 130 market rate apartments with space for ground floor retail.

The Lofts at 624 (the Sears building) and the Petro Lofts (Petroleum Tower) would be a strong start in creating a 24-hour city center and the demographics needed to encourage grocery markets, drugstores and other amenities to give downtown a hard look.

The projects would also create opportunities and return two large buildings to usefulness and eventual taxable status.

Another opportunity exists with the historic Arlington Hotel. After working for more than two years to get clear title to the building on Cotton Street, the city now has it.

The city’s enthusiasm for the Shreveport Common Art and Culture District, in which the Arlington sits, should not flag.

There are major quick wins on the Shreveport Common horizon in a partnership with Caddo Parish on the Caddo Common Park, linear trails and greenspaces along the KCS lines, and a Request for Proposals issued to gauge interest in the Arlington. This RFP should not be too cumbersome that developers will fear it, but should include commonsense timelines and benchmarks and be issued quickly.

The Downtown Shreveport Development Corporation worked with the city on a structural assessment of the Arlington and the building is still in amazing shape considering the compromised roof and several fires … but bad things happen to vacant buildings and it would be a shame for the city to lose it on their watch.

Finally, a quick win could be the decision to be aggressive in the use of creative options, such as Tax Increment Financing districts and gap funding, to encourage more developers and entrepreneurs to rehab our vacant downtown buildings.

As present, only the DSDC and DDA help with incentives and would welcome additional city activity and support. Downtown is the heart of the area, and a strong and vibrant city center helps attract business to the region, contributes strongly to tourism, is efficient in land use, and offers a place where cultural and art mix freely.

A dynamic downtown is almost always indicative of a successful city. We look forward to more citypartnered efforts to make it that way.

ON STANDS NOW!

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