Along with upgrading Limbach Park, another project which can generate community pride and interest in the Downtown is the development of a Town Commons area. With proper promotion and scheduling, a Town Commons could become a focal point for community and special events. Design Guideline 9 conceptualizes how a Town Commons would look with the addition of such amenities as street trees, a bell tower, kiosk, and a small stadium.

Design Guideline 9 - Town Commons Concept

The major difference between a concept and reality is money. More than any other factor, adequate financing from both the public and private sector will determine the ultimate success of a downtown improvement program.

In addition to potential financing mechanisms, this section will examine the use of regulatory devices and design standards to implement the revitalization concept and promotional or marketing strategies to capture potential interest in Downtown Monument.

Design Standards

The establishment of design standards geared to the protection and enhancement of the Downtown is strongly recommended. The standards are not intended to dictate a certain architectural style or to create design hardships on needed entrepreneurs. Rather, the design standards are for the purpose of creating a unified Downtown design theme while affording flexibility for innovative or creative architectural styles.

Once the design standards are developed based not only on ideas of this chapter, but on practical standards used in other towns (e.g., Manitou Springs, Telluride and Vail), the Town may elect to adopt them by ordinance or resolution. To implement the standards, it is recommended the Planning Commission be granted the authority to review elevational drawings and site plans of new structures in the Downtown, If desired, the Town may expand that authority to include the review of all buildings in the community with the exception of single family residential uses. Distinct design standards, however, will be needed for reviewing new or expanded structures in other areas of the Town.

Financing

The stark reality of implementing the "Downtown Revitalization Concept" is that potential financial resources will be limited. As a result, choices will have to be made as to which project will receive priority.

The first step in implementing the "Downtown Revitalization Concept" is for the Board of Trustees to appoint a Downtown Improvements Council with membership from various community groups. Responsibilities of the Council may include:

The majority of improvements to the Downtown can be financed with municipal funds or through municipal taxing mechanisms. The advantages of municipal financing are that it provides equity (costs charged on the basis of property owners directly benefiting from the improvements) and flexibility (one or more municipal revenues can be used to pay for an improvement or long-term bonds spreading improvement costs over a longer period of time so that today’s taxpayers are not overburdened.

General purpose revenues, such as general property tax and retail sales tax, can be used to pay for a wide variety of public improvements. Revenues in the form of special purpose property taxes can only be used for specified purposes, i.e., parks, libraries and boulevards. Special assessment financing can be used to provide streetscape improvements. This latter financing technique can also be used to finance the construction of a centralized parking facility. As an alternative to special assessments, the Town should investigate establishing a special taxing district within the corporate limits for the purpose of providing special services and facilities to the Downtown. Another source of financing is the State Lottery monies which could be used for implementing the recommended improvements to Limbach Park or for creating the Town Commons area.

The Downtown Improvement Council can be expanded to affiliate with the Main Street community improvement program. This program is jointly administered by the Economic Developers Council of Colorado and the Division of Commerce and Development, Colorado Department of Local Affairs. The Board of Trustees, to become eligible for participation in the program, must adopt a resolution. Recognition and cash awards are given annually as incentives for communities to develop projects and promote community pride.

Promotion

Promotion and marketing are two essential ingredients to ensure a viable Downtown. Implementing a promotional/marketing program will acquaint people with the new amenities in Downtown, generate an increased retail sales pattern, and identify the area as a place to hold special events throughout the year.

Basic program elements include: