Downtown Cuyahoga Falls Circulation & Economic Transformation Project 2016 TIGER GRANT APRIL 14, 2016 1 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Tiger Grant Overview 2 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Tiger Grant Overview 3 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Tiger Grant Overview 4 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Downtown Cuyahoga Falls Circulation & Economic Transformation Project -- Components 1. Re-Opening of the Front Street pedestrian mall into a two- way Street 2. Conversion of one-way streets to Two-way Streets • North 2nd Street from Oakwood Drive to Northland Street • North Front Street across State Route 8 • Oakwood Drive , from Second Street to Front Street 3. Addition of bike lanes and on-street parking on 2nd Street, throughout downtown and north of Oakwood Drive 4. Addition of off-peak on-street parking on the north side of Portage Trail 5. Removal of continuous right-turn movements from Broad Boulevard to 2nd Street and on 2nd Street to Oakwood Drive 6. Construction of dedicated bike lanes and new sidewalks on South Front Street 7. Rerouting bus service to the downtown area with more convenient transit stops within project area 8. Improvement of pedestrian, bike and transit connection through the State Route 8 Highway corridor. 5 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
6 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Downtown Cuyahoga Falls Circulation & Economic Transformation Project -- Components PROPOSED PUBLIC PARTNERS PROPOSED PRIVATE PARTNERS City of Cuyahoga Falls The Testa Companies Akron METRO RTA Commonwealth Properties Ohio & Erie Canalway Coalition River Falls Development Summit Metro Parks Karam Companies Northeast Ohio Four County (Planning) Organization Coming Attractions LLC (NEFCO) Cuyahoga Falls Community Improvement Corporation 7 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Downtown Cuyahoga Falls Circulation & Economic Transformation Project -- Components 2016 TIGER Grant -- Public-Private Investment 2016 TIGER Grant – City Match (Match) DOT-TIGER, $8,020,000.00 , 7% City, $5,380,000.00 , 4% CITY-TIGER Match, $5,380,000.00 , 40% DOT-TIGER, Private $8,020,000.00 , Development, 60% $108,580,000.00, 89% 8 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
Why Now….Conclusions 2016 DOWNTOWN CIRCULATION PLAN 2016 DOWNTOWN MARKET ANALYSIS The timing for this project is particularly opportune. In The consumers in the Downtown primary trade area the past 15 years, the retail marketplace has continued will generate demand to support a variety of retailers. to evolve. Enclosed malls are no longer the preferred retail environment. This potential will continue to increase over the next five years, sustained by an annual population growth In fact no new enclosed mall has opened in the United rate of 0.02 percent and household income growth of States since 2006 (The Atlantic, 2012). 2.64 percent. Retail today is all about the experience. Walkability, a mix of retail, entertainment and residential uses are in The primary trade area is the consumer market where high demand. the downtown area has a significant competitive advantage because of access, design, lack of quality Downtown Cuyahoga Falls has an opportunity in its competition and traffic and commute patterns. authenticity. It has the building character and form that are now being mimicked in outdoor malls. Re- This competitive advantage equates to a potential opening Front Street and repairing the surrounding windfall in the capture of consumer expenditure by the street grid is a necessary first step in the rebirth of retailers in the study area. Front Street and Downtown Cuyahoga Falls. 9 4/18/2016 CUYAHOGA FALLS CITY COUNCIL COMMITTEE MEETING
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