Girdler said that the city needs to make sure it has permission from the entity making the proposal before an announcement is made, but he expected it to be unveiled most likely within the next 30 days.
“Because of the number of important projects going on right now, we didn’t feel like there would be sufficient public and private funds to get up to $20 million, but with the addition of the proposed project, it will be sufficient,” he said.
Girdler stressed that none of this will come at any extra cost to the taxpayer, as meeting the $20 million spending figure will all the city to issue revenue bonds.
“We won’t issue revenue bonds if we don’t have the money to pay them off,” said Girdler. “... There’s no cost involved to the community, no obligations to the community, because if we don’t reach $20 million, then it doesn’t become a reality.”
If it does? Then expect a radically transformed downtown Somerset at some point in the future.
“We’ve come up with an extremely positive and wonderful development plan,” said Girdler. “... If the TIF is approved, I think we will have a very workable and fantastic project that everyone will be surprised and pleased with.”
He added, “I just think this is something that will change Somerset for the positive and make people come downtown.”