Stimulus Package Could Boost Tampa Mixed-Use Project

Encore, the planned Central Park Village redevelopment, would boost Tampa's economy by creating thousands of jobs - both short-term construction jobs and hundreds of permanent positions.

The Tampa Housing Authority is pushing those jobs as a means to spur interest in breaking ground on the mixed-use, mixed-income community it is developing with Bank of America on Nebraska Avenue.

The project needs about $27 million to pay for improvements to streets, sewer and other infrastructure. A proposed federal economic stimulus package, supported by President-elect Barack Obama, could assist such public works projects.

Housing officials hope Encore might benefit if the stimulus becomes reality. They met recently with staff from U.S. Sen. Bill Nelson's office, and plan to meet soon with U.S. Rep. Kathy Castor's staff, to remind them that Encore could start construction within months if money were allocated.

"We're not hopeful for an earmark," said Leroy Moore, the housing authority's vice president. "We just want to document and illustrate that there are projects in our state, and in our area specifically, that are ready to go."

The estimated $425 million, 28-acre Encore project features affordable and market-rate apartments and condominiums, as well as a proposed hotel, school, church, parking garage and office and retail space.

The project already is more than a year behind schedule. The housing authority has not pursued bonds to finance the infrastructure, Moore said, because bonds aren't marketable in the current economy.

A study, paid for by Bank of America, estimates about 955 permanent jobs would be created, in addition to 4,103 construction jobs. Construction is expected to last three years.

That's why stimulus dollars are so attractive.

"It gives us an adrenaline shot," Moore said. "If we can get all the infrastructure built, that's going to not only catch us up, but get us ahead."