Price City Press Release
Looking at all there is to do to get an improvement district off the ground, the Price Business Improvement Committee met on Dec. 13.
Subcommittees made up of various business leaders, government officials and others have been formed. Those subcommittees consist of the ambassadors committee (which gathers information and informs business owners of what is going on), the budget committee (which determines the costs of what may be done and where the money could come from), the project committee (which determines the projects, where they will be done and how they will be done), and the activities and events committee (which develops events that will support the ideas the committee has for the area).
Each of the subcommittees reported on their activities at the meeting. The project committee spoke of an analysis on what needs to be done physically in the central part of the downtown district to make it a more attractive and alluring place for people to shop and spend time.
Some of the items addressed in the report included wider sidewalks, signage improvements, the possibility of building a community plaza, art installations in public areas and upgraded street lighting. Also included in the report was the benefits of each of the improvements if they were to come to fruition. One of the main points of the committee’s report was that all projects must have community support before they can be planned.
The budget committee spent a considerable amount of time discussing and analyzing potential BID funding mechanisms, including assessments to properties included in the potential BID as well as possible re-establishment of a tax increment district in the downtown Price area.
With only a few meetings under their belt, the entire committee is still finding ways to not only improve the downtown area, but also to find ways to pay for those improvements. An analysis that was developed shows that there may be many ways to finance the projects, but the speed with which the projects could come to fruition could be hindered based on cost.
In other matters, the committee also looked at a plat of the downtown area and discussed what the timelines on doing projects would be for various parts of the area.
The committee will continue to meet monthly and develop plans and ideas.