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Brad Segal, Progressive Urban Management Associates Denver, October 7

Economic Development Council of Colorado New Partnerships for Development. Brad Segal, Progressive Urban Management Associates Denver, October 7. Business District Development Framework Organizing for Each Phase of a District’s Growth Cycle…. New Partnerships for Development.

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Brad Segal, Progressive Urban Management Associates Denver, October 7

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  1. Economic Development Council of Colorado New Partnerships for Development Brad Segal, Progressive Urban Management Associates Denver, October 7

  2. Business District Development Framework Organizing for Each Phase of a District’s Growth Cycle… New Partnerships for Development

  3. Business District Development Framework New Partnerships for Development

  4. Successful Strategies: Stagnant Districts Brush! • Main Street™ program formed in 2001 • Façade improvement grants to 12 properties • Streetscape enhancements underway • Program purchased/renovated a building • Spirit of Brush Award • A sustainable champion for the district New Partnerships for Development

  5. Community Development Corporation (CDC) Non-profit community organization with public/private orientation… • Oriented to advance real estate and business development • Provides planning and project development services • Facilitator and problem solver for otherwise challenging projects Funding Source: Contributions, grants, fees and earned income New Partnerships for Development

  6. Successful Strategies: Stagnant Districts El Cajon CDC, El Cajon, CA • Formed in mid-1990s, also includes BID, Main Street™ program, contract with local redevelopment agency to manage TIF • Clean & safe, business development, affordable housing and workforce training • Downtown outperforms city in… • Property values (181% vs. 75%) • Sales (66% vs. 45%) • Creation of 600 new jobs New Partnerships for Development

  7. Successful Strategies: Stagnant Districts Denver Civic Ventures • 501(c)3 CDC formed in 1982 • Has evolved over time to address variety of civic needs • 1986, 2007 Downtown Plans • 1980s Multi-bank loan program • 1990s Housing development • 1990s Project development • 2000s Planning • 2010 Public Market? New Partnerships for Development

  8. Finance Tool: Community Capital Mobilizing Local Capital & Resources… • Variety of ownership models – community-owned corporations, cooperatives, investment fund • Local incentive for small business development, marketing • Provide both equity and debt Funding Sources: Individuals, banks, institutions, foundations New Partnerships for Development

  9. Successful Strategies: Stagnant Districts Evergreen Cooperative, Cleveland, OH • Creating community-owned businesses to serve local institutions • Identified $3 billion in outsourcing by local hospital, university • Cleveland Foundation creating new green businesses to fill gaps • Examples include commercial laundry, solar energy producer • Cooperative ownership structure keeps jobs local, ensures long term commitment to local growth • Businesses intended to be profitable, loan payments seed new firms New Partnerships for Development

  10. Business District Development Framework New Partnerships for Development

  11. Business Improvement Districts (BIDs) Quasi-public special district governed by ratepayers… • Provides funds to manage, market and maintain the downtown environment -- “CAM” fee for downtown • Self-governed, self-imposed, accountable • Need: 1) private sector champions; 2) supportive local government; 3) staff and financial resources; 4) tradition of public/private partnership New Partnerships for Development

  12. Business Improvement Districts (BIDs) Key messages during the Great Recession… • Ability to stabilize & manage the environment • Now is the time to strengthen competitive advantages • Unified downtown will make us more influential • Ability to leverage resources, challenge and lead • Accountability • Something we can control in an uncertain and changing economy New Partnerships for Development

  13. Successful Strategies: Growing Districts Havana Corridor BID • BID formed in 2007 • 4.5 mills annual budget of $325,000 • Services include marketing, economic development, special events & establishing a district identity New Partnerships for Development

  14. Downtown Development Authorities Can often combine advantages of TIF & BIDs… • Differs from state to state • Most allow TIF and a mill levy • Generally must implement a development plan • Governance can be more public-sector connected • Generally does not have power of eminent domain • Now is the time to establish the base year for TIF New Partnerships for Development

  15. Finance Tools: TIF Basics of tax increment financing (TIF)… • Uses future increases in property and/or sales tax to finance improvements today • Common to bond with TIF • Tool for “bricks & mortar” – infrastructure & buildings • Now is the time to establish a base year New Partnerships for Development

  16. Successful Strategies: Growing Districts Nederland DDA • Formed in 2005 following market study • Includes 5 mills plus TIF • Just completed nearly $1 million in sidewalk reconstruction • Provides leadership for downtown improvements New Partnerships for Development

  17. Successful Strategies: Growing Districts Colorado Springs DDA • Formed in 2007, provides financial incentives to promote development via underwriting/partnering on development and rehab • Also has BID, 501(c)3 foundation • Challenge Grant Program:Provides matching funds to property and business owners (private and public) for improvements to facades, landscaping, lighting, signage, etc. New Partnerships for Development

  18. Business District Development Framework New Partnerships for Development

  19. Successful Strategies: Mature Districts Cherry Creek North BID • 16-block retail and restaurant district, 320 independent businesses • Generates approximately $2.3 million in revenue • Passed $18.5 million bond issue to streetscape entire district • BID issued bonds in 2009 (also did $12 million bond issue in 1989) New Partnerships for Development

  20. Successful Strategies: Mature Districts Downtown Tempe Community, Inc. – Tempe, AZ • Management, marketing of all public, some private parking in downtown Tempe (8 lots/garages in total) • Contract with the City – 6% of parking revenues, management fee • All parking managed by DTC part of “Park-It Program” including First Hour Free, validation program New Partnerships for Development

  21. DOWNTOWN DENVER PARTNERSHIP 501(c) (6) by contract Vision Communications Administration DOWNTOWN DENVER, INC. 501(c)(6) DENVER CIVIC VENTURES 501(c)(3) BID (BID) Advocacy Marketing Economic Development Transportation Housing Special Projects Transportation (TMO) Maintenance Marketing Mall Vending DOWNTOWN DENVER EVENTS $ $ MEMBERSHIPS ASSESSMENTS Festivals & Events $ GRANTS, CONTRACTS, SPONSORSHIPS Holding Company Structures: Denver, CO New Partnerships for Development

  22. Economic Development Council of Colorado New Partnerships for Development Brad Segal, Progressive Urban Management Associates brad@pumaworldhq.com www.pumaworldhq.com

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