Polishing the 'Golden Triangle'

Tavares, Eustis and Mount Dora -- which form an area in Lake County known as the Golden Triangle -- will spend a combined $12.5 million during the next year to redevelop their downtown areas. And at least another $69.2 million worth of downtown redevelopment plans are in the pipeline.

Two of the three cities, all located within 10 miles of each other, have seen companies exit their central business districts during the past few years, leaving behind vacant and/or boarded up storefronts. And that's a trend they'd like to reverse.

"All three need to work together to survive," said Neil Bagaus, general manager of Eustis-based Inland Lakes Railway that provides specialty rail service to the three cities.

Waterfront destination

The city of Tavares will seek permits next month for an ambitious $8 million project aimed at improving its lakefront and injecting new life into its downtown business district.

The city wants to transform a 6-acre park into a regional waterfront destination that will include a marina, seaplane base and event center. The project is being designed by Tavares-based Booth, Ern, Straughan & Hiott Inc.

The city is financing the project through a $7.3 million bank loan obtained in January and is pledging utility taxes to repay the note. The city also obtained $800,000 worth of grants for the project.

It's part of a loftier $64.2 million downtown redevelopment plan that could take 20 years to complete. It would include a downtown entertainment district, revamped downtown streets and a public/private partnership on a

$30 million multipurpose transit facility.

The projects are designed to turn around the business district that has many closed or vacant storefronts. "We want to reverse the exodus from downtown," said John Drury, city administrator.

Cultural center expansion

Meanwhile, Mount Dora -- a popular destination, thanks to its events, shopping and bed and breakfast inns -- is spending $3.5 million to expand and improve the 15,000-square-foot Mount Dora Community Building, which was built in 1929.

The work on the cultural center is an entertainment component of economic development, said Gus Gianikas, the Mount Dora assistant director of planning and development who also oversees the city's community redevelopment district.

The city will seek bids by the end of the year on the project, which will add another 48 feet to the building, new seating and upgrades to the air-conditioning system.

San Antonio-based Killis, Almond & Associates is the architect for the project. A contractor hasn't been selected. Work should get underway early next year, and the project, to be funded by the city's Community Redevelopment Agency, could stretch over 15 months.

Beautifying the business district

Then there's Eustis, which has budgeted nearly $1 million on a streetscape project designed to revive its downtown business district, now rife with boarded-up buildings, underused space and undeveloped property.

The plan includes landscaping, signage and changing road configurations in the district. The Eustis City Commission will decide its fate Sept. 4.

In addition, the commission on Aug. 7 approved a downtown redevelopment plan that seeks to improve the lakefront and attract a greater mix of residential and commercial development.

Although the city hasn't attached the total cost for that plan, it estimates a drainage project for the downtown area will cost $3.3 million and the entire streetscaping component would cost $2 million to $3 million. The project will be funded by the Eustis Community Redevelopment Agency.

City officials believe spending up to $6 million to beautify its downtown business district will attract developers and investors to build on vacant land or renovate existing structures.