To help revitalize F’ville, vote YES on TAD Nov. 6
On behalf of the Fayetteville Downtown Development Authority, I want to encourage all Fayetteville residents to vote in favor of the redevelopment powers referendum on Nov. 6.
The use of “tax allocation districts” will give Fayetteville an important tool to help revitalize its aging commercial shopping centers.
There are several points for voters to keep in mind. First, approval of the new redevelopment powers will not create a new tax. It will not increase anybody’s property tax. It will not create new condemnation powers, and no one is required to participate in a tax allocation district who does not want to.
What the new law will give Fayetteville is an incentive to encourage owners of commercial properties to improve the appearance and use of their property.
The Downtown Development Authority is charged with helping to revitalize Fayetteville’s central business district. Our board members support the referendum and hope for approval of this valuable financing option.
It will go far in helping the city work toward improving the appearance of some older, declining commercial centers and providing new employment opportunities.
Chairman, Fayetteville Downtown Development Authority