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TRUMAN WATERFRONT

TRUMAN WATERFRONT .

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TRUMAN WATERFRONT

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  1. TRUMAN WATERFRONT

  2. THE TRUMAN WATERFRONT SHOULD BECOME A GREAT COMMUNITY PARK FOR THE PEOPLE OF KEY WEST, TAKING ADVANTAGE OF ITS SPECTACULAR SETTING AND ITS UNIQUE HISTORICAL QUALITIES, PROVIDING ACTIVE AND PASSIVE RECREATIONAL USES AND CULTURAL FUNCTIONS, WHILE ENHANCING THE QUALITIES OF ITS ADJACENT NEIGHBORHOODS. VISION TRUMAN WATERFRONT DEVELOPMENT

  3. PREFERRED PROGRAM • AFFORDABLE HOUSING • ASSISTED LIVING FACILITY • FLEXIBLE EVENT SPACE • MEETING CENTER • SKILLS CENTER • CULINARY INSTITUTE • CULTURAL / EDUCATIONAL USE • IN-TRANSIT MARINA • MARINE SUPPORT RETAIL • HARBOR WALK • MARINE/BOATING EDUCATION COMPONENT • KEY WEST MILITARY AND NAVAL HISTORY COMPONENT • REUSE OF EXISTING NAVY STRUCTURES • MULTI-USE FIELDS • JOGGING TRAILS • BIKE PATHS • PEDESTRIAN PATHS • INTERACTIVE WATER FEATURE • PARK AND RIDE/WALK SYSTEM • BENCHES / SWINGS • INDIGENOUS LANDSCAPING • SHADE • PLANTS TO ATTRACT BIRDS/BUTTERFLIES • PICNIC AREAS • DRINKING FOUNTAINS • RESTROOMS

  4. ZONING ANALYSIS

  5. Funding Sources The City of Key West intends to begin the redevelopment of the Truman Waterfront upon transfer of the property, utilizing existing and contemplated funding from its general fund, local utility agencies, grants and from borrowed funds, if necessary. As previously shown in the application, the City has the financial and management capability to undertake a project of this magnitude. It is anticipated that grant funding, along with general fund contributions, will fund much of the open space/harborwalk costs while revenue bonds will be used for the marinas and the mixed-use development. Private development sources will be utilized to the extent possible as well. Utility construction may be funded in part by the various providers, with repayment from anticipated rate-based (regulated) revenues.

  6. Recommended Recoupment Clause All proceeds collected or received by the City from the sale or lease of any portion or all of the Property during the first seven (7) years after the date of the transfer of the Property to the City shall be used to support the economic development or redevelopment of, or related to, the Property (as defined in the Act, as amended by the National Defense Authorization Act for Fiscal Year 2000). An annual financial statement certified by an independent Certified Public Accountant shall be submitted to the Government which describes the use of all sale and/or lease proceeds from the Property collected or received by the City. If after review of the annual financial statement it is determined that such proceeds were not used to support economic development or redevelopment of, or related to, the Property, the City shall repay to the Government 100% of proceeds that are not appropriately so used or reinvested.

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