Contributions of and Benefits to Riverfront Partners
RIVERFRONT PARTNERPARTNER CONTRIBUTES:PARTNER RECEIVES:Municipalities
Gives up most operating authority over parks; negotiates agreements addressing ownership and useContinues certain services: utilities, dike and flood operations, police, fire, & fee waivers for events sponsored by partners.Cooperates on land-use planning & enforcement.
Agrees to support/implement methods for generating additional public funds for the Riverfront
Economic developmentRelease from most liability.Release from most maintenance responsibilities.
Enhanced municipal image.
Increased programming for residents
Jobs for residents.
Higher standards of maintenance
Potential for some share of earned income from entrepreneurial activity.
Increased value for private properties nearby.
Major share of new property tax revenue.
Maintenance and security.Venture capital (gap) financing.
Benefits connected with economic growth (direct and indirect), i.e. new customers.Leadership/participation in governance of Riverfront.Potential for earned income from Riverfront can reduce Regional Partner's costs.
Enhanced public image
State of Connecticut
Financial assistance to complete constructionStart-up operating capitalAny enabling legislation required.
Increased regional economic activity.Tourist attraction/economic development catalyst.Enhanced image for State &Capitol Region.
Riverfront Recapture, Inc.
Programming expertise.Charitable fund raising capability.Positive public image and name.
Fulfillment of vision.