Orlando approves $160M plan for downtown projects as businesses warn time is running out скачать в хорошем качестве

Orlando approves $160M plan for downtown projects as businesses warn time is running out

The city of Orlando, Florida has approved a financing plan to pay for several multimillion-dollar projects downtown, a move city leaders say will shape the area’s future, but one that some business owners fear may come too late for them. City commissioners approved the plan Monday to use $160 million in Tax Increment Revenue Bonds to fund a series of projects aimed at increasing foot traffic, improving walkability, and transforming underused spaces in downtown Orlando. The city says the approach allows them to invest now in long-planned improvements while leveraging future tax revenue generated within what is known as the Downtown Community Redevelopment Agency (CRA), which was created in 1980 to revitalize 1,664 acres in downtown. During a council meeting and workshop on Monday, commissioners discussed the “Canopy,” a project that will be funded by the $160 million bonds. The Canopy project promises to convert 10 acres of space under I-4 into at least 300 parking spots, a rideshare hub, and a landscaped urban gathering space. The project is expected to cost about $30 million, with construction beginning this summer and completion projected for 2027 or early 2028. Read more: https://www.wftv.com/news/local/orlan...