Memphis will see a lot of moving dirt these next few years. The dirt will move at rebuilt parks, historic schools turned into libraries, and, maybe, razed skyscrapers.
During his state of the city speech Thursday evening, Memphis Mayor Jim Strickland announced a $200 million spending plan intended to rehabilitate Memphis’ aged park system, change neighborhoods with mixed-used plazas and new green-lines, give Mud Island a face-lift and potentially tear down Memphis’ tallest building, the dilapidated 100 N. Main.
“It’s strategic investments in neighborhoods that have not had much investment in the recent decades,” Strickland said in an interview with The Commercial Appeal Wednesday. “I also think it’s a visible sign to the community that we are going to aggressively try to recapture the momentum that we had.”
The spending program, which the city hopes will cause private funds to follow public dollars, is called “Accelerate Memphis: Invest in Neighborhoods.” The money will come from a one-time, $200 million balloon debt issuance that still needs state of Tennessee and Memphis City Council approval.
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