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The Riverfront Project: Designers Add New Costsby Phil Campbell
Kah-ching! Memphis Mayor W.W. Herenton, Public Works Director Benny Lendermon, and their consultants met with a city-council committee last Tuesday to present the plan. That's when the additional costs were mentioned. Lendermon cited the federal and state governments as potential sources. The federal government is aggressively being lobbied for about $20 million for the plan, according to Lendermon, and the state has already earmarked $7 million for one part of the project, the renovation of the cobblestones along the river. The city's bill, then, could be anywhere from $16 million to $36 million. Some city-council members (Jerome Rubin, Barbara Swearengen Holt, Rickey Peete) believe that the project is too important to not pursue. "Memphis has a very unique window of opportunity," says Rubin, the council chairman. "You shouldn't find any opposition at all [to the plan]. The river is quite an asset that we as a community have never really sought to develop." The plan calls for building a dam between the southern tip of Mud Island and the cobblestones along the river. A channel would be created at the northern tip of Mud Island. To maintain automobile access, a bridge would have to be built to the northeast side of the island. If all goes well, the project would form a 36-acre recreational lake between Mud Island and the riverfront, allow better docking facilities, and provide a better link between Beale Street and Mud Island. Some council members (Brent Taylor, Pat Vanderschaaf, John Vergos), however, have questions about the amount of money being poured into the river. "I'm very concerned about the escalating costs," says Pat Vanderschaaf. "There needs to be some more discussion, particularly about damming up the Mississippi. No project has come in the way it's supposed to come in. I just think [the council] is going to have to start really asking some tougher questions." Vergos called it "cutesy" and "over-glitzy," wondering how the city would pay for it, given the other major publicly funded downtown projects presently under way. "I'm not sure how we're going to afford all this stuff," he says, citing the competition for funds from the proposed Grammy Hall of Fame and the expansion of the Cook Convention Center. The city is also contributing money for a new downtown baseball stadium, as well as proposed improvements to The Pyramid. "I'm just scared that we're going to lose our focus," he says. Taylor was equally cynical, calling the plan unnecessary. "I'm skeptical of the project right now, unless somebody can convince me that we need it. [The results of the project] should be more than just being able to go down and interact with the water. I'm not going to support it." Part of the skepticism for the plan is that it is still in its infancy, so there are a lot of unknowns. The Herenton administration has chosen to try to get funding before any significant numbers on the project's potential economic benefits have been calculated. At one point during the council meeting, an estimated $3.5 million a year in revenue was predicted, but this was not backed with any supporting evidence. The city has received some preliminary numbers from California consultant Richard Lyon on the plan's marketing potential, but the city won't release those numbers. Lyon's final figures are due out in four weeks. Lyon says his job had more to do with figuring out how to raise money for the plan than studying the plan's long-range economic impact. "Let's do an opinion reasonably fast so folks can go out and try to secure that money," Lyon says. "This is a long process, as you probably know." Also, the Hnedak Bobo Group, which stands to make millions in city contracts off the project, has a role in promoting the plan. During the council committee meeting, designer Greg Hnedak predicted that a major riverboat company would probably come to Memphis if the plan succeeded, bringing with it an estimated 300,000 tourists annually. During a phone interview, he upped that number to as many as 400,000 tourists. Vergos questioned this approach to studying a project's economic feasibility. "When the same people who are promoting the projects are also counting the costs, I just don't pay any attention to it," he says. |