A proposed arts and sculpture center is the key component of a comprehensive plan for Kokomo’s downtown area.
For the past three months, local business owners and officials have been working to develop a comprehensive plan.
The group adopted the plan Thursday and is seeking support from the Greater Kokomo Economic Development Alliance to implement it.
“We are all in agreement that these are what we want to see over the next 12 months,” said Paul Wyman, leader of the group. “It can be given to potential investors to show what we have accomplished and what is planned.”
A key part of the plan is to convert the former Button Motors property on the northeast corner of Union and Sycamore streets to the Indiana University Kokomo Art Center. The site would include an art gallery, classrooms for students and office space for local art associations.
“Nothing compares to this in terms of impact on the downtown,” said Mike Stegall, president of Community First Bank.
Efforts are being made to secure funding for any potential environmental cleanup of the site and demolition of buildings.
Wyman said an economic development impact study for the Button Plaza area is being funded by the Urban Enterprise Association and Indiana University Kokomo. The study should be completed early next year.
Another aspect of the plan is public and private incentives to attract investment in the downtown area.
Greg Aaron, with Ivy Tech Community College, said a committee is working to establish a $2 million pool of funds that would be available for loans. Also, some landlords have expressed support for providing free or discounted rents.
He said the property owners are concerned about the high property taxes in downtown.
Ron Harper, executive director of the Howard County Community Foundation, said vacant second and third floors of the buildings is a problem. He said if the taxes are comparable to other businesses in Kokomo, there was not a lot of relief that could be provided.
Abbott said Economic Development Income Tax funds received by Kokomo and Howard County could be used to provide job creation incentives and training.
Local News
Downtown group is proposing arts center
Plan includes an art gallery and classrooms.
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