City of Cleveland Brownfield Economic Development Initiative Greenhouse Project June 5, 2009.
Economic Development Initiative
description
Transcript of Economic Development Initiative
Economic Development Initiative
New Game PlanNew Game Plan
A Catalyst for Community A Catalyst for Community SustainabilitySustainability
Sustainability: n.
meeting the needs of the present without compromising the ability of
future generations to meet their own needs.
…………….86% of local taxes are based on residential use
International Institute for Sustainable Development defines:
Current SituationCurrent Situation•Lack of DiversityLack of Diversity
85% residential funded85% residential funded
2% Industrial funded 2% Industrial funded
Collapse of our primary job sectorCollapse of our primary job sector
UnsustainableUnsustainable
Residential85%
Commercial11%
Industrial2%
Ag1%
Other1%
Cost of Service StudyCost of Service Study
Residents Residents BusinessBusiness
Pays: $1.00 Pays: $1.00 Pays: $1.00Pays: $1.00
Receives Receives $1.18 Receives: $.25$1.18 Receives: $.25in services:in services: in servicesin services
2008 University of California Study2008 University of California Study
Importance of DiversityImportance of Diversity
Current Situation Current Situation (jobs)(jobs)• Collapse of construction industryCollapse of construction industry
• Highest unemployment in StateHighest unemployment in State
• Seeking employment outside countySeeking employment outside county
• Brain Drain- graduates leaving areaBrain Drain- graduates leaving area
UnemploymentUnemployment
Our Competitors
…………….85% of business referrals will need existing facilities
Our CompetitorsOur Competitors
• Mature infrastructureMature infrastructure
• Reduced land costsReduced land costs
• Lower leasing ratesLower leasing rates
• Existing facilitiesExisting facilities
Our CommunityOur Community
• Lack existing facilitiesLack existing facilities
• Lack infrastructureLack infrastructure
• Lack available Industrial landLack available Industrial land
• Lack competitive lease ratesLack competitive lease rates
• Lack of consistent incentive fundingLack of consistent incentive funding
Community Strengths
…………….17% unemployment means a ready labor force
Community StrengthsCommunity Strengths
• Transportation networkTransportation network
• Readily available workforce Readily available workforce
• Advanced communication networkAdvanced communication network
• Cooperative government partnersCooperative government partners
• Quality of LifeQuality of Life
The Plan
……………..dedicated .25 mil per $1,000 toward economic development
The PlanThe Plan
• Voter approved economic Voter approved economic
development initiativedevelopment initiative
• Dedicated funds for economic Dedicated funds for economic
developmentdevelopment
• .25 mil for 20 years.25 mil for 20 years
The PlanThe Plan
Capital Funding Projects Capital Funding Projects 60% 60%
Funding IncentivesFunding Incentives 30% 30%
Local Expansion/RetentionLocal Expansion/Retention
Enhanced Marketing of Community 10%Enhanced Marketing of Community 10%
Funds generated, approximately Funds generated, approximately $1.8 million per year dedicated to $1.8 million per year dedicated to addressing:addressing:
Cost to ResidentsCost to Residents
Current Median Home Price $120,600
Annual cost to property owner
$17.65
Example $150,000 $25.00$200,000 $37.50
AdministrationAdministration
• BOCC will make decisions regarding BOCC will make decisions regarding
expenditureexpenditure
• Enterprise Flagler provide support/adviceEnterprise Flagler provide support/advice
Board comprised of public and private Board comprised of public and private sectorsector
As well as elected officialsAs well as elected officials
Community Action
…………….17% unemployment means a ready labor force
Important DatesImportant Dates
Asking elected officials to support allowing Asking elected officials to support allowing citizens to vote on this matter on November 2, citizens to vote on this matter on November 2, 2010 ballot2010 ballot
June 7, 2010June 7, 2010 BOCC Authorization BOCC Authorization
June 18, 2010June 18, 2010 Election Ballot DeadlineElection Ballot Deadline
November 2, 2010November 2, 2010 ElectionElection