The first phase of the Southside Economic Development District’s 25 year plan was approved Tuesday night, but there is a long journey between Tuesday night and its completion in 2047.
Tuesday night the council approved the big picture or the wish list for Southside. If fully implemented, the Southside would no longer be viewed as unacceptable for economic investment.
If fully funded and executed, it would also mean that criminal activity would be greatly diminished and the community would be viewed as safe for family living and business development.
That’s a tall glass of water. Some would say it’s a big chew of tobacco!
No matter how far fetched it might seem at the present, the council’s endorsement of the plan suggest that the city council, representing all parts of the city also endorses the dream, even if there might be some wariness about individual projects.
The SEDD board of directors has the difficult task of securing funding for the projects, and managing the projects with the various city administrations that will lead Monroe over the next 25 years.
First up is for the SEDD board to prioritize the 47 projects and develop a list of short-term and long term projects. The short term projects should address areas that completed relatively quickly to gain public assurance.
The city can help execute the dream by allowing SEDD to use some of the sales and property taxes collected in South Monroe. It’s the same way it is helping Downtown.
If the city fudges on its promise then Southside still has the ability to pass a sales tax that applies only for the Southside. The revenues from the sales tax would be used to help fund the 25 year plan.
In addition, the SEDD should hire the services of professional grant writers who will scout out and help SEDD apply for state and federal funds to under write a portion of the plan’s cost.
Finally, the SEDD will need to forge partnerships with private businesses and investors. That’s the only way to get a convention center, water park, or major grocery outlet.
The SEDD has a big job ahead. It now has to find ways to generate $500 million over the next 25 years.
The City itself may only put up a small part of the funds for the “Southside Dream.” The rest will take many years of hard work.
Tuesday night the SEDD board could have sang James Brown’s song: “I don’t want nobody to give me nothing, just open up the door and I’ll get it myself.”
The council’s approval opened the door.
It’s now up to SEDD to get the job done.
