Traverse City commissioners will hold a special study session tonight (Monday) to discuss possible public improvements around Boardman Lake, including the completion of the Boardman Lake Trail, possible construction of a new Boardman Lake Avenue and the relocation of a railroad wye at Fourteenth Street. The three infrastructure projects are part of the city’s $11.4 million Boardman Lake Brownfield Plan, originally approved in 2000.
Grand Traverse County Deputy Director of Planning and Development Jean Derenzy, who assists in administering the region’s brownfield plans, will seek commission input on which projects are a priority and possible funding options for improvements. In a memo to commissioners, Derenzy noted the city could “bond or borrow to fund the project(s) and receive reimbursement” for financing costs, “wait for the funds to be collected through TIF capture to reach a sufficient amount in order to cover the project and then implement” the improvements, or use some combination of the two approaches.
Tonight’s discussion is intended to move forward the public components of the plan, as private investment in the area – including new housing developments, water and sewer improvements and environmental clean-up – has increased the district’s tax base 210 percent since 2000 and is anticipated to be complete by 2016. Completion of the Boardman Lake Trail was cited as a priority by some commissioners in recent budget discussions, while moving forward with discussions for a new Boardman Lake Avenue serving as an east-west route for traffic between Eighth and Fourteenth Streets has also been singled out as crucial for the future of the corridor.
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