Tuesday, July 10, 2012

What’s up with all of the activity on Detroit?

Our $13 million investment is beginning to pay off!

13 Million dollars?  How was it spent? The investment started in 2004 under Mayor Tom George. The first step was a $3.9 million dollar sewer replacement, paid for with bonds financed by our sewer fees. This was a very smart first step because it required tearing up the entire street. The second step was to resurface the torn up street. This was primarily paid for by the State of Ohio. (Detroit is a State Route). The next big step was the design phase for creating a sense of ‘place”, followed by the traffic signals we are now seeing. 
The pie chart shows the breakout of our investment.

How did we pay for all of this?

The local share of all of this was little more than half of the total. $3.9 million of the $6.7 million of local tax dollars was dedicated to the sewer work mentioned above. The remaining  $2.8 million was our required local participation to get more than $5.8 million of Federal and State grants. 
 The following pie chart shows the break down.

Who did the work?

All of this work took many, many partners. This included the Ohio Department of Transportation (ODOT), The Northeast Ohio Areawide Coordinating Agency (NOACA) which oversees federal transportation money, several private contractors and engineering firms, Baily Building owners, our staff at City Hall, and many dedicated citizens.
What do we have to show for this investment?

We have a structurally sound, upgraded street ready for its 2nd century. We have traffic signals that will use less energy, allow us to manage and adjust for changing traffic patterns, and will require less maintenance. These signals should be good for 30 years, perhaps more.  

Most importantly, we have a dynamic, revitalized sense of  “‘place” that continues to attract millions in private investment. In fact, there is in excess of $20 million of private investment up and down Detroit.

Was this a good investment? Time will be our best judge- but all of the indicators point to it being superb investment.

#1LKWD  www.onelakewood.com


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