FAQ
The following Frequently Asked
Questions have been developed as a resource to the
Meriden Community to assist in the dissemination of
accurate information regarding the City Center
Initiative. If you have a question that you would
like to see included in this section of the site, please
contact us.
What
is the Meriden City Center Initiative really about?
Meriden City Center Initiative is not about the document presented July 24th, 2002 (the content of which is presented in this website), but instead is about the people and the motivations that fostered its development. It is about a coalition of various
city, business and community interests committing to stimulating sustained economic growth aimed at reversing the decline of Meriden's central core.
The preliminary concepts within the Master Plan are very "Real World" and economically sound in principal. At this point in time, however, the appropriate debate is not as fact based as it is psychological. The issue is not whether the details of this initial concept for a Master Plan are valid, but instead are whether the
city at large is willing to admit it has a set of circumstances effecting its
future that require attention and whether the community is willing to make the decisions for a sustained period to implement positive change. The goal of the Meriden City Center Initiative is to achieve public policy and consensus of opinion consistent with taking action NOW while a better Meriden is still obtainable.
What is Economic
Development?
As defined by Federal
EDA, "Economic development is fundamentally about enhancing the factors of productive capacity - land, labor, capital, and technology - of a national, state or local economy. By using its resources and powers to reduce the risks and costs which could prohibit investment, the public sector often has been responsible for setting the stage for employment-generating investment by the private sector."
When a community evolves to a point where undeveloped land is no longer available, the physical condition of improved land, its functionality, existing use, and market appeal begins to drive the overall market value and determine whether a property will continue in its existing use or be redeveloped for an alternative use. In a perfect world this re-use would be driven by private investment, similar to that which was evidenced by Stop & Shop's redevelopment of the corner of East Main and Broad Streets. But when an area declines to a point where private investment is not occurring, without external stimulus, the entire area will continue to decline in value having a compounded effected on the balance of the community.
It is at this point where government must consider providing stimulus and act as an the “investor” in property re-use. The degree of investment depends upon the actual physical condition of the existing improvements, the functionality of the improvements, the surrounding environs, public infrastructure and the degree of stimulus required to attract market driven private investment. The Meriden City Center Initiative Master Plan understands this theory and applies it to Meriden.
With the tough economic times facing the State
and the economy in general, does this idea have
a chance?
Meriden can ill afford NOT to begin implementing a structured plan towards sustained economic growth in it's central core. If the doctor diagnosis you with a heart condition, do you go home, balance your check book and decide whether you are going to treat it?
Whether this plan is funded in whole, in part or not at all, no one with the Community's best interest at heart and in mind should choose not to try. When Columbus headed out for the horizon, there were more people waiting on shore behind him than those on board his three ships. It is not easy to propose and see through a visionary and ambitious endeavor of any sort, but if no one ever ventures into the often difficult and uncharted waters, we would not be on American soil today.
Additionally, the State was been quoted in the Record Journal as saying that there is ALWAYS opportunity for the right project. We believe this, too. Meriden is located at the Center of the State at the crossroads of I91, I84, I691 Rt 5 and 15 (Merritt Parkway). We are proposing a project that is at a significantly cheaper price tag than the plans in New London, Bridgeport, New Haven, Waterbury and Hartford with much greater potential impact on the entire community at large. We think that the Governor's office will be committed to the Cities and that the Smaller Cities like Meriden are next in line no matter what the economic circumstances. To not move forward now that we have the tools needs to try would be defeatist and would obviously have no worse an impact than not trying at all.
This proposal at full funding is a bigger bang for the buck than any urban plan undertaken in the last 20 years in Connecticut and as such deserves full consideration by all.
How does this plan effect my taxes?
As the saying goes, there are only two sure things in life, death and taxes. The immediate issue is not whether taxes will go up as a result of this plan. The issue is that taxes will certainly increase if the City's Center does not contribute to the overall City's tax base.
Areas that decline in market appeal and physical condition, decline in value. In 1913 the National Association of REALTORS’s Preamble coined, "Under all is the land". Value of land is maximized when a property is improved to its "Highest and Best Use". Highest and Best Use is by definition, "The reasonably probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the Highest Value."
In Connecticut, municipalities operate off an ad valorem tax system. Ad valorem means, "according to value". This tax system levies tax upon the value in Real and Personal Property (real Property being commonly known as real estate). As such, a City has a credible interest in the value in all the real estate within its geographic boundaries. Typically this interest is protected through land use planning, regulation and enforcement. But in some instances a City must do more to protect its interest.
In the case of Meriden's City Center, the proposed plan for redevelopment offers a recommendation which will stimulate economic growth to the taxable real estate within the City Center. By leveraging an investment grade private development component, the City can consider it's financial contribution to the process directly against the anticipated "return" on that investment from the resulting increase in the tax base in both new Real Estate and the personal property taxes from the business development.
This "cost - benefits" analysis will be developed in the next phase of the planning process along with a market study to verify/confirm the probability that this private investment can be achieved.
Top Ten reasons why this "plan" is unlike the others:
| 10. |
This plan is the first to have a COMPREHENSIVE approach to the overall urbanization of Meriden. |
| 9. |
The "Initiative" is a coalition of various Economic Development organizations including MERG, MEDCO, Meriden Chamber of Commerce and the City of Meriden (administration, Staff, and Governance both local and state) bringing a much needed real world, think tank atmosphere of cooperation and understanding to the table. |
| 8. |
The Master Plan initially identified ACTUAL CURRENT circumstances impacting the entire target area. This target area being large enough to identify and understand the real "issues" in the greater City Center. |
| 7. |
This Master Plan takes the observations of the issues and brings QUALIFIED expertise in multiple disciplines of urban planning, engineering and architectural appreciation and design to envision solutions to the constraints. |
| 6. |
The plan takes into consideration the various "current" ideas and proposals and puts them into the context of a contemporary understanding of the issues impacting Meriden, understands them, scrutinizes them within the context of this new global understanding and comments on them where appropriate for inclusion and at what point they most likely, if at all, fit into the larger vision. The results of this exercise is the identification of those projects which have economic and community development validity and whether they are stimuli to the market to promote and create economic growth or if they are complimentary or supplemental in nature to the overall redevelopment to the area. |
| 5. |
The exercise identified the missing links or components in sound planning and market awareness which must be considered as initial phase efforts to ultimately result in real economic growth. |
| 4. |
This plan identifies realistic and practical solutions to the issues with qualified recommendations which are critical to real and sustained success. |
| 3. |
This type of plan is precisely what the State of Connecticut has said is necessary to achieve their interest in participating financially. |
| 2. |
This plan proposes economically viable, investment grade development opportunities which promote vibrant activity in the area as well as contribute to the tax base of the community. |
| 1. |
This plan maximizes significant Private, Federal and State financial participation to
minimize Meriden's investment for a positive return in the short term. |
