On Monday Greenville City Council signaled their intent to issue revenue bonds to pay for City Park on the city’s west side. The bonds will be repaid with hospitality tax revenue.
City Park is expected to transform Greenville’s western flank much like Falls Park and subsequent projects transformed the West End. The park has already been a catalyst for commercial and residential development even though groundbreaking likely won’t happen until spring 2018.
The park site is currently home to the city’s public works facility. A new public works facility is under construction on city-owned land on Fairforest Way and should be completed in the fall. Once the $25 million relocation is complete, the current site could be prepped so the space is usable and redeveloped within the park as money becomes available.
Preliminary plans for the park include a great lawn, a “sprayground” water feature, a picnic area, basketball courts, and the transformation of Welborn Street into a promenade. The park could also have an observation tower.
A resolution passed unanimously says bonds would be issued to pay for components eligible for tourism-related funding, provided annual debt is no greater than $2 million per year for 20 years.
In addition to signaling council’s intent to issue bonds, the resolution also authorized consultant MKSK to start working on design, engineering, and permitting for the first phase of the park which includes the widening of the Reedy River streambank.
The resolution also authorizes City Manager John Castile to negotiate non-binding terms for the acquisition and sale of properties along Welborn Street and properties adjacent to the proposed park area, as well as to identify and prioritize park-related street and utility improvements.