| |
Now !
Complete a Rental
Housing Inquiry
to receive additional information on "Impact Warren"
housing. |
| |
|
| Q. |
Who is paying
the $40 million price tag for IMPACT WARREN? |
| |
|
| A.
|
The plan for
financing the project has been developed by Larry
Segal, Tom Harley and Bob Yoder, the facilitators
of the project. They plan to leverage the already
announced $7 million private investment in a new
office building by Northwest Savings Bank, along
with the commitment of the Transit Authority of
Warren County(TAWC), the City of Warren, private
investors(purchasers of planned housing). The majority
of funds are planned to come from various State
and Federal programs designed to stimulate economic
development. |
| |
|
| Q. |
How will
IMPACT WARREN benefit Warren County residents? |
| |
|
| A.
|
Two(2) commercial
office buildings and the new hotel will generate
NEW real estate taxes (income) to be shared by the
City, County and School District respectively. In
addition, new job opportunities will be created. |
| |
|
| Q.
|
Who will
own the new facilities of IMPACT WARREN? |
| |
|
| A.
|
The new hotel,
housing and office buildings will be privately owned.
It is contemplated that the parking facilities,
convention center and elderly housing will be owned
by a combination of government and quasi-public
entities. |
| |
|
| Q.
|
What happens
now that the project has been announced? |
| |
|
| A.
|
The various
funding agencies will be educated about the merits
of IMPACT WARREN. Applications for the funding agencies
are being prepared in coordination with the various
funding cycles. |
| |
|
| Q.
|
When will
construction begin? |
| |
|
| A.
|
Of course it
depends in part on funding, however, it is anticipated
that construction could begin as early as fall of
2003. |
| |
|
| Q.
|
How much
has the City of Warren invested in IMPACT WARREN?
|
| |
|
| A.
|
To date, IMPACT
WARREN has NOT cost the taxpayers anything. |
| |
|
| Q.
|
Was a market
study prepared to support the concept and who paid
for it? |
| |
|
| A.
|
Yes, a market
study was conducted. The cost of the market study
was paid by the facilitators ( Larry Segal, Tom
Harley and Bob Yoder). |
| |
|
| Q.
|
Is there
a waiting list for the elderly apartments or the
owner-occupied units? |
| |
|
| A.
|
Not at this
time, but once construction nears completion, public
announcements will be made. |
