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Doughnut Hole vs the Whole Doughnut Using Public Land Assembly

Doughnut Hole vs the Whole Doughnut Using Public Land Assembly to Encourage Quality Economic Growth Frank Martz, City Manager City of Altamonte Springs. Doughnut Hole vs the Whole Doughnut Using Public Land Assembly AND Public Tools to Encourage Quality Economic Growth

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Doughnut Hole vs the Whole Doughnut Using Public Land Assembly

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  1. Doughnut Hole vs the Whole Doughnut Using Public Land Assembly to Encourage Quality Economic Growth Frank Martz, City Manager City of Altamonte Springs

  2. Doughnut Hole vs the Whole Doughnut Using Public Land Assembly AND Public Tools to Encourage Quality Economic Growth Frank Martz, City Manager City of Altamonte Springs

  3. City of Altamonte Springs

  4. Location, Location, Location • Interstate 4 and State Road 436 divide the City • 200,000 to 300,000 ADTs per day SR436

  5. Location, Location, Location + Stability • 44,000 Residents • 9.4 Square Miles • One of Lowest Tax Rates in Florida • Property Taxes Less than 10% of Budget • Completely Debt Free SR436

  6. National and State Leaders • Ranked #1 City in America by CNN/Money for affordability, where taxpayers get the most bang for their buck • Ranked Top 3 Cities in America by HGTV / Chase Mortgage as top places in America to move your family • Launched the 1st Community-wide UBER Pilot in the world • First Regional Interstate Stormwater Reclamation Project in the United States – creates 1 billion gallons of AWT / YR

  7. We Have Some History In ED Partnerships • City started doing partnership projects in the mid-1980’s • Figured out a framework for successful partnership projects

  8. Every Tool In The Toolbox • CRA, TIF, Sales Tax, Impact Fees • Land Use and Zoning; Special Districts • Master Utilities and Utility Funds • Roadways and Pedestrian Improvements • Parking Garage Partnerships • Brownfield Conversion • FEMA Floodplain Mitigation • Strategic Acquisition of Real Estate

  9. Every Tool In The Toolbox People are your key tool • Small team – innovators, people who refuse to lose • Key professional consultants • Lawyer who understands real estate transactions and finance (are they BS’ing you?) • Engineer who understands BOTH roadway and utilities • Development engineer / architect who understands space needs and siting • Separate elected body from the negotiating table – let your team make a deal, then bring you the deal

  10. A Couple of Examples

  11. Uptown Altamonte Cranes Roost and Uptown Altamonte • Master planned by City • CRA/TIF started in 1987 • Expired this year SR436

  12. Uptown Altamonte in 1991 • No north/south roads • Many property owners • No east/west roads • No cross access • Private sector had no road map

  13. Uptown Altamonte in 1992 • Built Central Parkway – and a bridge over Interstate 4 • Opened up development on the north side of Cranes Roost

  14. Uptown Altamonte in 1992 • Built Central Parkway – and a bridge over Interstate 4 • Opened up development on the north side of Cranes Roost

  15. Uptown Altamonte in 1993 • Started fireworks show • On July 3rd • Started as small event • 200,000 people now come just for that event

  16. Uptown Altamonte in 1996 • Started buying strategic properties • CRA Funds • General Funds • Relocated business in conjunction with another roadway

  17. Uptown Altamonte in 1996 - 2003 • Started buying strategic properties • CRA Funds • General Funds • Relocated business in conjunction with another roadway

  18. Uptown Altamonte in 1996 - 2003 • Started buying strategic properties • CRA Funds • General Funds • Relocated business in conjunction with another roadway

  19. Uptown Altamonte in 1996 - 2003 • Started buying strategic properties • CRA Funds • General Funds • Relocated business in conjunction with another roadway

  20. Uptown Altamonte in 1996 - 2003 • Made a deal with Morgan Stanley to combine properties and sell them • RFP • Master Plan Required • Master DA

  21. Uptown Altamonte in 1996 - 2003 • Made a deal with Morgan Stanley to combine properties and sell them • RFP • Master Plan Required • Master DA

  22. Uptown Altamonte in 2005

  23. Uptown Altamonte Connecting the Dots • Roadways and pedestrian improvements – something government does well • Created opportunities and access – for the developer AND the public

  24. Uptown Today

  25. Uptown Today

  26. Uptown Today Tools Used • CRA Funds • Master Utilities and Utility Funds • Roadways and Pedestrian Improvements • Parking Garage Partnerships • Strategic Acquisition of Real Estate • Create opportunities using YOUR tools and playing to YOUR strengths; the development community is pretty smart…they will figure it out • Patience – avoiding the drug of YES to satisfy that immediate craving for something

  27. Uptown Today Investment Summary • $62.3 million in public investment over 30 years of CRA • Bought $1.65 million of real estate – sold it for $7.2M; put $4.5M back into public parking, that the City will own and can use • $651 million in private investment that is built or in final planning • The tallest building between Orlando and Jacksonville • The residential project that is the highest investment per acre in the history of Seminole County - $80M/ac • 1.1 million regional visitors to Uptown Altamonte per year • $0 given in incentives “to create jobs”

  28. Gateway Center Gateway Center • Master planned by City and Developer After RFP • Brownfield Opportunity SR436

  29. Gateway Center - 1991 • Roadway system from the 50’s • Spray field owned by the City • Trailer park • Orange Groves

  30. Gateway Center - 1991 • Roadway system from the 50’s • Spray field owned by the City • Trailer park • Orange Groves

  31. Gateway Center - 1991 • Roadway system from the 50’s • Spray field owned by the City • Trailer park • Orange Groves

  32. Gateway Center - 1991 • Roadway system from the 50’s • Spray field owned by the City • Trailer park • Orange Groves

  33. Gateway Center - 1991 • Roadway system from the 50’s • Spray field owned by the City • Trailer park • Orange Groves

  34. Gateway Center - 1994 • State extended State Road 414 • We started connecting the dots • Built Gateway Drive - West

  35. Gateway Center - 1998 • We started connecting the dots on the east • Spray field • RV Park • Strategic Acquisitions

  36. Gateway Center East Today • Adventist Health System National Headquarters • Retail center • Residential projects • Future Development Obvious

  37. Gateway Center West Today • Seminole State College – 3P Project • $650 Million Master Plan • Nursing and medical program • Phase 2 in development already

  38. Gateway Center Then

  39. Gateway Center Now • Four parcels bought and one road built • One master stormwater system • Private sector did the rest

  40. Gateway Center Now

  41. Gateway Center Today Tools Used • Sales Tax and Impact Fees • Master Utilities and Utility Funds • Roadways and Pedestrian Improvements • Strategic Acquisition of Real Estate • State 3P Legislation • Create opportunities using YOUR tools and playing to YOUR strengths; the development community is pretty smart…they will figure it out • Patience – avoiding the drug of YES to satisfy that immediate craving for something

  42. Gateway Center Today Investment Summary • $28.5 million in public investment over 22 years • Loaned $10 million for the roadway – public being paid back • Net public expense – roughly $18.5 million • $491 million in private investment that is built or in final planning • Entitlements for $250 million more in investment • $0 given in incentives “to create jobs”

  43. Next Up: East Town Center and SunRail Station

  44. Next Up: East Town Center and SunRail Station • Acquired floodplain and mitigated it • Acquiring roadway system now • Budgeted $25 million; potential yield $300M over 30 years

  45. Lessons Learned

  46. Government Acronyms Do These Terms Describe What You Want? • 3P • Public Private Partnerships • Don’t be afraid to NOT use these terms.

  47. Honest Gut Check • Have a vision beyond the obvious horizon • Hire smarter people than you – this should be step #1 • Be honest about what you want and about what you are willing to do • Honestly assess your own capabilitiesand tolerance for risk • While others are giddy about the acronyms, constantly check your compass

  48. Remember This is Cool But Not Your Strength • There is no reward for risk in government so don’t overthink things • You are not a developer so don’t try to be one – PLAY TO YOUR STRENGTHS – land use, zoning, roads, utilities, etc. • Be careful what you say and write documents reflecting your vision • Stick to your guns and make sure a developer can’t walk away with TAXPAYER’S investment!

  49. Play to Your Strength • Look for “public improvement” ways to participate • Those who “Friend” you today may “Unfriend” you tomorrow • Own things that the public should own and will own if the deal falls apart – sewer, stormwater, parks, parking garages, streets, etc. • You can get the WHOLE DOUGHNUT without buying the WHOLE DOUGHNUT

  50. Take Organizational Advantage • Great chance to identify future leaders – the people who will stay in your organization long enough to see a 30-year vision through to the end • Develop environment of creativity and innovation among your staff • Lots of disciplines needed – so success can be shared

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