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Concord officials are planning big changes around the Charlotte Motor Speedway and Concord Mills.
The goal is to capitalize on the tourist destinations by improving the surrounding roadways and community. To pay for the upgrades, the city is planning to establish a municipal services district, or MSD, to generate additional tax revenue.
"You create a boundary around the area and everyone within that boundary pays an extra tax, but then that money that's generated from the tax stays in the area to make improvements," said Kaylee Caton, the design manager in the city's planning department.
That means most project costs will fall on area restaurants and stores. It’s a common practice that's seen in other business districts like SouthPark in Charlotte and downtown Concord.
Right now, Concord Mills Boulevard is partly known for its traffic.
"It’s no big secret congestion is an issue up here on the Boulevard," Donna Carpenter, CEO of The Cabarrus County Convention & Visitors Bureau said.
However, city planners want it to be somewhere visitors and residents can park, stay, and enjoy.
"You have Concord Mills Mall, you've got the Speedway, there's a lot of things in between with the hotels and visitors, but how do we create a true entertainment district and bring it all together," Caton asked.
The area already drives success for Cabarrus County, Carpenter notes.
"It's one of the busiest exits in the state of North Carolina," she said. The spending is one of the highest in the state of North Carolina."
The Cabarrus County Convention & Visitors Bureau reports the county made $566 million from visitors in 2022. Carpenter thinks branding, beautification, and connectivity will capitalize on that.
"It would create a place for people to stay longer when they're here to visit," she added.
The public helped craft the recommended improvements, including more sidewalks, bike paths, public art, and pocket parks.
There isn't a set timeline for when the first beautification projects could start. However, officials hope to establish the MSD by next fiscal year to begin generating revenue for the work.
The city estimates tax revenue from the MSD could generate about $680,000 a year. Caton said businesses have had some questions about the proposal, but seem to be on board.
Contact Julia Kauffman at jkauffman@wcnc.com and follow her on Facebook, X and Instagram.
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