Every Business on this Street will Lose Money and take it in the shorts except maybe the Bicycle Company. I have watched them do this in Los Angeles and as far as :
“We also need to find a funding source for perpetual maintenance.”
The businesses that remain will soon find out that the funding for the increased maintenance has already been worked out, YOU ARE GOING TO PAY FOR IT through a Direct Tax on your Business that just lost 25% of it’s revenue as a result of this beautification project.
How does the law in that state address loss of business “goodwill” [statutory-not GAAP] in relation to government’s exercise of Eminent Domain?
Same thing happened here. The hardware company went out of business because there was no parking area left. Other shops had to close, too. All for nothing. Nothing was improved. The street is now one lane one way. It used to be two lane.
The problem is that most American cities stopped the construction of mid block alleys a hundred years ago. We all pay taxes and the street/bike lanes/sidewalks are for transportation, not your personal loading zone.
Sounds like the equipment dealer has been mouching off public space for a long time. If the space he actually owns isn’t big enough for him, it sounds like a you problem