Jan. 15--If the goal of the federal stimulus plan is to generate jobs and revive impoverished neighborhoods, then there is a strong case to be made for funding the revival of Central Park Village.

The economic slowdown has stalled the public-private plan to redevelop a 28-acre tract in one of the Tampa's worst neighborhoods.

The mixed-use "Encore" project would offer housing for the poor, working class, young professionals, the wealthy and the elderly. The complex also would include offices, shops, a hotel, a school and a church.

The venture is to be built on the site of the former Central Park Village public housing project. The crime-ridden, ramshackle complex between downtown Tampa and Ybor City was, thankfully, demolished in 2007.

The Tampa Housing Authority had intended to replace some of the government-assisted housing in the new facility. But the recession has delayed everything.

If federal funds were provided for the infrastructure improvements needed before work can begin, at least some parts of the project, including housing for the elderly, could soon begin.

As Mayor Pam Iorio told the Tribune's John Allman, "We made commitments that Central Park was going to be torn down, but it was going to be rebuilt and people were going to have the opportunity to move back."

Under the public-private agreement for Encore, the Housing Authority provides the land. The city of Tampa is responsible for infrastructure improvements. Bank of America funds the development. The company has successfully developed such inner-city projects in Miami, Jacksonville, Baltimore and other cities.

But no work can be done until road, sewer and other improvements are made. A parking garage also must be built. Officials say the total cost for such support work is $27 million.

Local elected officials have designated Central Park a community redevelopment area, which allows the city to funnel all new tax dollars generated by the development back into the neighborhood for 30 years. This provides a funding mechanism for the necessary improvements.

But the sour economy has things at a standstill.

Federal stimulus money would allow the city to begin building roads, fixing the drainage system, landscaping streets and making other improvements that will benefit the entire neighborhood.

The progress of the housing development still would be dependent on the housing market. But at least some parts of the project could proceed.

An analysis by economist Hank Fishkind found the three-year construction phase of the $425 million project would result in more than 4,000 direct jobs and support more than 8,700 jobs.

The completed projected, he estimates, would result in nearly 1,000 permanent jobs.

That would seem exactly the kind of results Washington wants for the economic stimulus money.

Congress is unlikely to earmark money for specific projects, but will leave such decision to state officials.

Gov. Charlie Crist should recognize that Tampa's long-neglected Central Park neighborhood needs help and that providing it would result in a healthy return on investment.

To see more of the Tampa Tribune or to subscribe to the newspaper, go to http://www.tampatrib.com. Copyright © 2009, Tampa Tribune, Fla. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.

Copyright 2009 Tampa Tribune