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News & Events

Versailles Accepts Montrose Proposal to Redevelop Downtown

VERSAILLES — The Village of Versailles Council voted unanimously Wednesday night to enter into a contract with the Montrose Group to help establish Downtown Redevelopment Districts (DRD) there.

From the August 11, 2017 edition of The Daily Advocate

By Erik Martin, Staff Reporter

VERSAILLES — The Village of Versailles Council voted unanimously Wednesday night to enter into a contract with the Montrose Group to help establish Downtown Redevelopment Districts (DRD) there.

“It’s $15,000, it’s not a little amount of money, but it’s a 30-year deal,” said Village Administrator Rodd Hale. “If we have something in place, and if we have someone who’s looking at building, it’s just another thing to say, ‘By the way, if you want to buy a building, and you’re going to do some work, we’ve got a plan in place.’”

Hale noted that through the DRD, the city would be able to offer developers possible tax breaks and discounts on supplies.

“If someone does take advantage of the program, they don’t have to use a specific lending institution, they can use any lending institution they want to use within our community, and secondly, for their discount on supplies, they’ll be able to utilize local businesses for their supplies, that the local businesses have agreed to give them discounts. I want to make sure that we’re keeping as much in our community as we possibly can and not having those dollars [go] elsewhere,” said Councilwoman Kim Custenborder......

Click Here to Reac Complete Article in The Daily Advocate