VISION & PLAN SUMMARY

but new businesses alone will not dramatically alter downtown. In the long run, it will require the amenity infrastructure mentioned above to repopulate Frankfort’s central business district.

Achieving this vision will require investment, which in turn requires risk. Is it worth it?

A more relevant question is this: can Frankfort afford to allow the continued deterioration of the economic and cultural heart of the city? Keep in mind:

• Downtown is a prominent employment center, providing jobs for hundreds of people.

• Downtown represents a significant portion of the community’s tax base. If some of its largest structures are empty and crumbling, property values drop, placing a greater tax burden on other parts of the town.

• A healthy downtown core protects property values in surrounding neighborhoods.

• Downtown represents a huge public and private investment. Imagine how much it would cost to re-create all of the buildings and public infrastructure along Main Street.

• The commercial district is an ideal location for independent businesses, which in turn keeps profits in town with local owners, and supports local family-owned businesses.

If successful, the benefits of a revitalized downtown extend far beyond Main Street. A vibrant downtown can affect where workers in the information economy, especially younger ones, want to live and so is important for workforce recruitment and retention strategies.

And finally, revitalization will pull all elements of the community – business owners, city officials, residents – toward a unified purpose.

The Implementation Chapter gives details on how to launch this vision.