Position Statement: Transit Village Area Plan

Boulder Tomorrow strongly supports the Transit Village Area Plan (TVAP) as an opportunity to advance the City's vision of promoting an efficient urban lifestyle including multiple transportation options. The city will benefit from additional employment, varied housing choices and increased economic vitality as this vision is implemented.

As staff has indicated in correspondence to Council, area plans address multiple city goals where change is anticipated or desired. Such plans also articulate a common vision and explain the improvements the city will make.

Staff analysis also describes how redevelopment of property owned by the city's Housing Division - the Transit Village center - is "expected to be a catalyst for other improvements in the area". We agree with this premise and believe city investment will be a catalyst across the entire 160-acre Transit Village planning area.

The most effective way for the city to demonstrate its conviction about a "Transit Village" vision is to commit to and fund the required public improvement components for the initial phases of infrastructure upgrades. By taking a leadership role in funding the necessary public improvements of this vision, the city's initial investment will spark subsequent private reinvestment and redevelopment efforts.

Although special district tax mechanisms are a useful form of financing for urban renewal projects like this one, a better alternative would be for the City to provide an internally funded, phased investment program that would not require a special taxing District. As the vision for the Transit Village Area is meant to benefit the city as a whole, a special taxing district would be unnecessarily burdensome on a minority of property owners and would be a disincentive to redevelopment.

Instead, an immediate and direct funding approach is the best way to show leadership as well as create incentives for property owners to participate in the vision for the area without penalizing them while they operate their current businesses.

As improvements are made the intrinsic value of underutilized properties within this area will become apparent both to developers and property owners. Some parcels will change hands and be improved to provide housing and community retail. Others will be renovated and upgraded by their current owners. And ultimately, many smaller properties will be aggregated for larger scale redevelopments which reflect the new character envisioned and championed by the City's leadership.

The city will recover its investment through such redevelopment activities. More importantly, the vision will continue to be realized and confirmed without heavy-handed mandates or unrealistic expectations.

The TVAP is a rare opportunity in Boulder given the scale and time horizon. Boulder Tomorrow encourages City Council to show their committed endorsement to the Transit Village Area Plan by championing public investment that will spark successful private reinvestment.