ECONOMIC RESTRUCTURING POSITION
April 2008

• An economically and culturally vibrant downtown is vital for the health of Waynesboro, serving as a focal point and economic driving force for the City.
  
  
• A healthy downtown is comprised of a mix of residents along with retail stores and restaurants, cultural attractions, professional offices, and service businesses that take advantage of the historic character of downtown.  This mixed-use downtown model has proven to attract people from other parts of the City and the region, some as visitors and some who choose downtown as a place to live.
  
  
• Waynesboro is located at a major north / south and east / west transportation intersection of both Interstates (64/81) and rail lines, as well as the intersection of the Shenandoah National Park and the Blue Ridge Parkway.  The Appalachian Trail and the South River provide exciting “green” attractions for tourists and regional visitors alike.
  
  
• Downtown Waynesboro faces challenges with its vacancies, under-utilization of existing spaces, economic challenges to restoration and upgrading, all impacted by its flooding and outdated land use character.
  
  
• The challenges faced can only be overcome and the assets taken advantage of through a creative and cooperative effort between private and government resources.
  
  
• Due to the current level of under-utilization downtown, the City must provide incentives for private enterprise to become more active in downtown revitalization, while reducing economic and regulatory barriers to such private activity.
  
  
• Leadership from City Council is needed to address the flooding problem with a plan that capitalizes on private initiatives and government resources, utilizing information from prior efforts and the talents that are currently available in the City.
  
  
• It is only by government and private enterprise working together, with the downtown health seen as a priority, that downtown will be transformed from an under-performing entity to a strong financial asset for the City of Waynesboro and its surrounding area.