On Sept. 19, Del Esparza, Greater Albuquerque Chamber of Commerce chairman and founder and CEO of Esparza + Digital Advertising; Terri Cole, GACC president and CEO; and Doug Majewski, GACC Downtown Transformation BIG Chair and CEO of Hartman+Majewski Design Group, wrote aguest column that appeared in the Albuquerque Journal.
The Chamber wrote about how thriving American cities generally have thriving downtowns and how successful downtown areas provide a city’s residents with comfortable and trendy urban housing, a dense economic base with significant public and private sector jobs, and recreational opportunities – including great places to eat, shop and enjoy art, culture, sports or music.
In the column, the Chamber leaders wrote that Downtown needs to be safe and welcoming as well as have housing and infrastructure to broaden its appeal and bring more people and businesses to the area.
“On the development front, two exciting opportunities lay before us. We need to seize them both for a more vibrant, and yes, safer, Downtown,” the Chamber leaders wrote.
The two opportunities are:
First, a new state law allows our community to capture more of the tax revenue produced in Downtown and re-inject those funds into public and private Downtown development projects. Supporting tax increment financing for Albuquerque’s Downtown is a no-brainer. This would create a predictable, long-term revenue stream to catalyze Downtown growth – one that would produce up to 20 times as much money for this work on an annual basis as we invest today. Imagine the possibilities.
Second, work is underway to re-establish a business improvement district (BID) in Downtown Albuquerque. A national best practice, many of the most successful cities in America have a BID for their downtown areas. Under a BID, downtown property owners organize and equip themselves with resources to uniquely promote and beautify downtown, support and plan events, add targeted security, create recreational opportunities and more.
“The work of improving Downtown public safety must continue in earnest. But, let’s acknowledge that one of the most effective, long-term ways to solve this problem is to energize the Downtown area with so much development, growth and activity that it’s no longer an easy haven for the homeless or playground for the criminal element,” the Chamber wrote.
Read the full guest column in the Albuquerque Journal here.