Page 46 - Murfreesboro, TN Comprehensive Plan: Chapter 7, Economic Development

7.46 Chapter 7

DRAFT 12.02.15

FIGURE 7.13: DEVELOPMENT AGENCY MODEL Community Foundation

Council and Administration Business/Property Representative Downtown Development District

Downtown MTSU
Development
Organization Main Street
Economic Development

Planning
Department Chamber Banks

Public-Private Development Agency Most redevelopment authorities operate as an agent
of the city and serve at the pleasure of the Mayor and
Models City Council, as illustrated in Figure 7.13: Development
Agency Model. In some cases they have bonding and
condemnation authority. In many instances, they serve
REDEVELOPMENT AUTHORITY
as umbrella organizations for downtown development
Unlike most Main Street or Business Improvement helping to coordinate and assist the efforts of business
District boards which are mainly involved with providing improvement districts, merchant’s associations and
technical assistance or managing promotional efforts, special taxing districts.
a Redevelopment Authority is charged with creating
and facilitating re/development projects. Working as Board members consist of Council members and
an arm of city government, and with the assistance of other advocates for Downtown who can contribute
city staff, they are actively involved in such things as: valuable knowledge in areas such as business planning
land development strategy, property acquisitions, deal and development, financial management, real estate
structuring, loan underwriting, developer recruitment development, construction management, legal,
and the negotiation of developer agreements. In marketing and promotions. Redevelopment Authority
essence, they package and sell development projects in boards generally serve under the aegis of the City
the public interest. Council and are supported by dedicated community