The Power & Light District plan was a $628-million projectproposed tobe an urban entertainment district with a mix ofoffices, hotels,theatres, shops, restaurants, apartments andparking structures.It started with a vision from the late AMCEntertainment president StanDurwood. After being unsuccessful inbacking the plan, AMC relinquishedits leadership role and cityofficials partnered with Atlanta-basedRegent Partners Inc. In thepast few months, both sides have been unableto agree on financingfor initial construction phases.

Councilman Ed Ford called the project "the last, best hope forsavingDowntown." However, Mayor Kay Barnes immediately released anew planfor Downtown rejuvenation, this one centered onhousing.Mayor Barnes said she has been meeting with severalbusiness leaders todevelop a plan to rehab a 12-block area south ofthe loop that are roughlybounded by 13th Street on the north,Truman Road on the south, McGeeStreet on the east and WyandotteStreet on the west.`"I think we have gone as far as we can go,"Mayor Barnes says. "Weneed to be looking at a new approach forDowntown."

Plans for the housing initiative will be disclosed Nov. 16 at anewsconference. Between now and then, city officials will askRegentPartners to withdraw from the project. The firm hasdevelopment rightsin the area through 2001.Talks stalled recentlybecause city officials did not want to provide$43.5 million in bondfinancing that Regent Partners had asked for inorder start the $167million initial phase. A special committe was formed and quicklydecided to end the partnership.