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This public/private partnership has been instrumental in development projects adding millions to the tax base in major rehabilitations and new construction, including four new waterfront hotels and three marinas, Riverfront Convention Center, NC History Center, Neuse River Bridge, major streetscape improvements, underground utilities, public parks, parking lots, and Cunningham Bridge replacement,major renovation of the Federal Building and waterfront condominiums.
Property values within the Municipal Service District (a 12-block area) increased from;
• $8.75 million in 1979-80
• $63 million in 2002-2003
• $109,537,935 - 2009-2010
• $166,823,448 - 2010-2011 (revaluation)
MSD tax revenues levied
• $197,261.20 - 2009-2010
• $200,257.14 - 2010-2011
Approximately 200 downtown businesses employ 2,300 people.
Tourism
Early 1980's generated $14-16 million in visitor spending.
In 2008 visitor spending generated
• $104.84M
• 1,050 jobs, with a payroll of more than $21.7M
• $7.97M in state and local tax receipts
Downtown New Bern is now a destination and major attraction.
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