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We held an exciting Committee-of-the-Whole and City Council Meeting last night. The council voted 7 to 0 to approve the construction of the streets to support the new Landing shopping center. The bonds will cost us 1.3 million per year, but we expect to receive new tax revenues of at about twice that on the most basic version of the Landing shopping center. The new construction will include the connection of Logan Avenue with the Freeway, which will put an arterial connection directly from I-405 (exit 5) though the Landing and into the center of our downtown. This will be great for our city.
Better still, we are doing the roadwork in concrete instead of asphalt, which has a life expectancy of 35-50 years. The bonds will be paid off a generation before the roads need significant maintenance. Meanwhile, the Landing will provide shopping, dining, entertainment, and tax revenues to our city.
Our attorneys are still fussing with some assorted appeals of the project, several sponsored by South Center Mall, but I believe these will at most affect the plans only “around the edges” a little. We know the land will support a shopping center, and we are going forward with the roads.
We will next turn our attention to a possible public parking garage and other public infrastructure enhancements. If these can be shown to produce a denser entertainment center and more financial activity, and enough tax revenues to pay their way (per the approved development agreement), then I am quite in favor of them.
I hope you, dear readers, share my enthusiasm for this project. My neighbors, my family and I have waited a very long time to get these kinds of shopping and entertainment options so close to home. And the tax money will help the city’s bottom line.
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