The tax base of downtown Greensboro has grown from $343 million to $630 million over the past eight years, Downtown Greensboro Inc. President Ed Wolverton tells me. And while the tax base for the city as a whole grew by only 0.68 percent last year, the tax base for downtown grew by 6 percent during that same period.
As part of efforts to close a $13 million budget gap, City Manager Rashad Young has proposed eliminating $13,500 for downtown banners and making significant reductions to funding for Downtown Greensboro Inc., the Jaycees holiday parade, the Fun Fourth Festival, the Festival of Lights.
The city paid off the debt on its parking garages about 18 months ago, creating a revenue stream. The proposed budget would transfer $235,000 from the parking fund to the general fund to help balance the city’s budget, out of $907,000 in receipts. Last year, Wolverton said the city council approved transferring all parking revenue collected — about $800,000 — into the general fund.
Assistant City Manager Denise Turner confirmed that the city also plans to begin charging for use of the city decks after 9 p.m. Parking is currently free after 5 p.m. Wolverton said users would be charged $2 per entry and the city expects to collect about $500,000 per year. Turner said she would check on those figures.
“It is a cost that would directly affect customers coming downtown,” Wolverton said. “DGI actually worked 10 years ago to get that changed. There was a fee for parking at night, and DGI convinced the city to eliminate the fee to encourage people to take advantage of restaurants and nightlife…. We do have concerns that it would impact restaurants, theaters and clubs. This was something we had explored in October and November with the public safety discussion, but were unable to move forward on.”
Wolverton said the city should be sensitive to the needs of downtown considering that it plays a crucial role in sustaining the local economy.
“Downtown is actually growing at a faster rate than the entire city,” he said. “And as growing the economy is an important thing to do right now, proposing new fees and diverting money from programs that are generating that growth could have negative consequences on the local economy.”
UPDATE: Turner confirms that the city plans to charge $2 per entry for use of the parking garage after 9 p.m. She says the city expects to generate $178,000 in revenue for fiscal year 2011-2012, starting in January. The following year, the city would take in $375,000, but would have to invest $280,000 for new equipment. Turner says the city also plans to eliminate a provision that gives users the first hour for free, generating $74,000. I've taken advantage of this gimme many times in my periodic visits to the Guilford County Courthouse.
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