Implementation Timeline
Streetscape & Infrastructure
WHO: City Staff
HOW:Pursue funding available from EDA Public Works/Economic Adjustment Assistance, CARES Act funding, or LA DOTD Urban Systems Program
WHEN: Q3/Q4 2020
WHO: City Engineer/Selected Design Consultant Team
HOW: Engage through existing on-call agreements or RFQ for survey and engineering studies to further define the costs required for infrastructure work related to the streetscape design by advancing plans to a 30% construction document level.
WHEN: Q4 2020 – Q1 2021
WHO: City Engineer/Selected Design Consultant Team
HOW: Engage through existing on-call agreements or RFQ for final design and engineering work to produce construction drawings suitable for bidding and construction for the funds available as identified in the previous action step.
WHEN: Q4 2020 – Q1 2021
WHO: City Staff/Board of Aldermen
HOW: Provide funding to ensure upkeep and maintenance of all new streetscape features in downtown, including but not limited to, landscape improvements, street lighting, signage/banners, and hardscape
WHEN: Q1 2021
WHO: City Staff/Board of Aldermen
HOW: Decide which financial structure makes sense for the city to utilize for a funding source, then secure funds for future fiscal years to begin detailed design and construction.
WHEN: Q1 2021 – Q2 2021
Food Hall
WHO: City of West Monroe, Steering Committee
HOW: Share the downtown master plan and food hall concept with developers, hospitality industry leaders, and relevant investors to generate interest in being part of the potential development
WHEN: Q1 2021
WHO: Existing property owner, investor(s), operator/manager
HOW: Determine who will own the property. If the existing owner elects to keep the property, develop a financially-feasible lease structure to allow the food hall investors/operator to make improvements to the building and occupy the space until the property owner decides to sell.
WHEN: Q2 2021
WHO: Owner(s), operator/manager
HOW: In collaboration with Alchemy (or firms with relevant experience), conduct a site reuse assessment to determine structural feasibility of the proposed project concept.
WHEN: Q3 2021
WHO: Owner(s), operator/manager
HOW: To support business incubation (food establishments) and workforce training (hospitality industry), the food hall should establish a 501c3 nonprofit organization to make it easier to secure federal/state funding and charitable donations to cover those expenses. At a minimum the for-profit arm of the food hall should own the bar and the building (eventually) to generate revenue via alcohol sales, food vendor tenant leases, events, facility rentals, etc.
WHEN: Q4 2021
WHO: Owner(s), operator/manager
HOW: Identify various sources of funding to secure capital required for building rehabilitation including, but not limited to private equity, historic tax credits (federal and state), federal/state grants, bank financing, charitable donations, etc.
WHEN: Q1 2022 – Q2 2023
DISTILLERY
WHO: Property owner (200 Commerce Street)
HOW: Complete the participation form provided by the City of West Monroe which will then be submitted to PPM Consultants to conduct the assessment.
WHEN: Q3 2020
WHO: Property owner, Distillery entrepreneur, PPM Consultants
HOW: By participating in the brownfield assessment through Ouachita Parish, City of West Monroe and PPM Consultants, inquire about the possibility of the property being considered for a site reuse assessment to determine structural feasibility of the proposed project concept (distillery).
WHEN: Q4 2020 – Q1 2021
WHO: Property owner and Distillery entrepreneur
HOW: Determine who will own the property. If the existing owner elects to keep the property, develop a financially-feasible lease structure to allow the Distillery entrepreneur to make improvements to the building and occupy the space until the property owner decides to sell.
WHEN: Q1 2021
WHO: Distillery entrepreneur
HOW: Continue working with industry-experts and distillery owners to develop a business plan customized for the new craft distillery, based on regional market supply and demand.
WHEN: Q2 2021
WHO: Distillery owner
HOW: Decide which financial structure makes sense for the business (i.e. self-funded, traditional bank financing, investor partnerships, or hybrid) then secure funds for capitalization and cash flow of the new craft distillery.
WHEN: Q3-Q4 2021
Housing
WHO: City of West Monroe, West Monroe Housing Authority, Main Street, Downtown West Monroe Revitalization Group
HOW: For homebuyers and renters, promote programs and resources provided by local service providers to create better awareness of existing tools and financing assistance for new and existing housing units. Additionally, for developers and existing landlords, promote programs, resources and incentives to encourage investment in new housing development and proper maintenance for existing housing units.
WHEN: Q3 2020
WHO: City of West Monroe
HOW: Identify relevant stakeholders to join the Housing Development & Financing task force, such as local/regional developers, real estate professionals, local service providers (i.e. West Monroe Housing Authority) and bank executives. In collaboration with the subject matter experts serving on the task force, the City of West Monroe should develop priorities for housing development in and around downtown, such as the development of more upper story housing and blight remediation in nearby neighborhoods. Additionally, the City of West Monroe and task force members should determine what new programs, resources and incentives should be offered to homebuyers, renters and developers to strengthen the existing housing market.
WHEN: Q3 2020
WHO:
HOW: Using existing data and in-person canvassing, determine which buildings in the downtown area are fit for redevelopment into new housing units (both for sale and for rent) as well as homes in nearby neighborhoods in need of rehabilitation. Based on the number of new housing units desired downtown and the average cost of rehabilitation of nearby homes in need of repair, determine the amount of funding needed to bridge the gap for developers to build new units as well as existing homeowners and landlords to rehabilitate existing units.
WHEN: Q4 2020
WHO: City of West Monroe, West Monroe Housing Authority, local/regional banking institution(s)
HOW: Based on the amount of funding needed (see step 3), establish a revolving loan fund to prioritize new housing development and rehabilitation of aged housing stock in and around the downtown area. To achieve a realistic capitalization goal, the RLF should initially be limited to a reasonable number of new housing units and rehabilitation for existing units (i.e. 5-8 new units and 6-10 rehabilitated units). At a minimum, to establish an RLF, the City of West Monroe will need to identify what organization will serve as the fiscal agent (if not managed by the municipality). Additionally, the managing organization should work with potential lenders and borrowers to participate in the program design process. At a minimum, the RLF eligibility requirements, minimum/maximum amounts for loans and application process will need to be developed before proceeding with program implementation.
WHEN: Q1 2021
WHO: City of West Monroe, West Monroe Housing Authority, local/regional banking institution(s)
HOW: Funding for an RLF does not have to be furnished by a singular source. The City of West Monroe should leverage both public and private resources to capitalize the RLF, but it is important to consider that most federal and state programs will provide more restrictions for what their funding can support. Ideally, the RLF will have commitments from a variety of sources to allow more flexibility with how the funds are invested. For example, if a local company commits $10,000/year to the RLF for five years, that funding will likely have far less restrictions than the U.S. Department of Housing and Urban Development awarding the city $100,000 for rehabilitation of affordable housing units. Diversifying the funds secured for the RLF will allow the city to invest strategically, based on the priorities and intent of the overarching program.
WHEN: Q2 – Q3 2021
Branding & Wayfinding
WHO: City of West Monroe, Main Street
HOW: Formally adopt the downtown master plan at the city council meeting on July 14, including the branding and wayfinding recommendations
WHEN: Q3 2020
WHO: City of West Monroe, Main Street, Monroe-West Monroe Convention and Visitors Bureau
HOW: Review Alchemy-recommended locations for large and medium gateway signage then determine exact location for signage placement. Incorporate pole-mounted street banners and small monument “neighborhood” columns into the implementation of the streetscape design and public infrastructure improvements.
WHEN: Q4 2020
WHO: City of West Monroe, Main Street, Downtown West Monroe Revitalization Group
HOW: As long as these activities are eligible under target funding programs, incorporate branding and wayfinding into the applications for streetscape design and public infrastructure improvements. Depending on the extent to which local art or artists are involved in the process, grants from the National Endowment for the Arts will be a considerable option to implement this part of the downtown master plan.
WHEN: Q1 2021
WHO: City of West Monroe
HOW: Following city procurement processes, solicit the services of a local/regional sign fabricator to create the final designs for the wayfinding signage and provide formal cost estimates to build and install the signage.
WHEN: Q3 2021
WHO: City of West Monroe, Main Street
HOW: Once the signage has been designed, developed and built, the City of West Monroe can begin making placements at the predetermined sites. This process, however, must occur gradually while streetscape and public infrastructure improvements are being made throughout downtown. This project will likely occur in phases depending on the number of grants submitted and successfully awarded to the city.
WHEN: Q4 2021 – Q4 2023
