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Neighborhood summit 2013
This document discusses neighborhood economic development. It describes neighborhood economic development as long-term, people-centered, requiring community capacity building, holistic, process-driven, and impacted by larger economic forces. Key concepts for neighborhood revitalization include strong community leadership, inclusive planning, building capacity, understanding local context, and implementing change. The document outlines steps for mobilizing change such as asset-based development, setting goals, partnerships, and programs that can help including the Focus 52 initiative.
Neighborhood summit 2013
- 1. Neighborhood Economic Development BillFischer Division Manager Economic Development 02/19/13 1
- 2. Neighborhood Economic Development has the following attributes: ♦ Long Term, never complete ♦ People and Community-centered ♦ Requires building community capacity to drive positive change ♦ Holistic ♦ Process-driven rather than product driven ♦ Impacted by the larger economy with few tools to ameliorate adverse impacts ♦ Relies on traditional economic development tools, but at a different scale 02/19/13 2
- 3. Key Concepts forNeighborhood Revitalization: ♦ Strong and committed community leadership ♦ A structured and inclusive community planning process ♦ Building community capacity ♦ Knowing local context and conditions ♦ Ability to implement change 02/19/13 3
- 4. Getting Started: Mobilizingfor Change ♦ Asset Based Community Development – Talented people, committed institutions, dedicated nonprofits, stable businesses ♦ Community Leaders – must take control of the process and set an agenda that is focused upon problem solving 02/19/13 4
- 5. Getting Started: Mobilizingfor Change ♦ Take baby steps ♦ Set benchmarks ♦ Break negative stereotypes ♦ Make the process inclusive ♦ Look for common interests ♦ Build working relationships ♦ Invite and engage participation ♦ Gradually build trust 02/19/13 5
- 6. Getting Started: Mobilizingfor Change ♦ SWOT analysis – Strengths, Weakness, Opportunities, Threats ♦ Asset Mapping ♦ Visioning ♦ Understanding the Neighborhood Economy ♦ Strategic Planning ♦ Goal Setting 02/19/13 6
- 7. Getting Started: Mobilizingfor Change ♦ Goal Setting – Increasing commercial assessed property values by 15 % over the next 3 years. – Decreasing ground floor vacancies in the NBD by 8,000 sf in the next 12 months. – Increasing the number of employees in the NBD businesses by six FTE’s over the next 12 months. – Engage one new business, one new resident and one new nonprofit organization and invite them to become active in some aspect of your strategic plan over the next 12 months. 02/19/13 7
- 8. Partnerships ♦ Residents ♦ NBDBusiness Owners ♦ Other Companies in the Community ♦ Churchs ♦ Other Nonprofit Agencies ♦ Development Corporation ♦ Government 02/19/13 8
- 9. Neighborhood Economic Development ♦ Puttingyour plan into action Where to start? – Real Estate/Land Banking/Block by Block redevelopment/Blight Abatement – Business Development – Workforce Development – Housing 02/19/13 9
- 10. Programs That CanHelp ♦ Neighborhood Business District Support Fund ♦ Neighborhood Capacity Building ♦ Neighborhood Business District Improvement Program ♦ Brownfield Redevelopment ♦ Small Business Technical Assistance ♦ Small Business Loan Programs ♦ Tax Increment Financing (TIF) ♦ Focus 52 02/19/13 10
- 11. Programs That CanHelp ♦Focus 52 • A program to fund transformative neighborhood Economic and Community Development projects. • Will use two sources to borrow funds for projects that will grow the City’s tax base by creating jobs or increasing the population of the City. 02/19/13 11
- 12. Programs That CanHelp ♦Focus 52 Part A: Economic Development Bond Fund Expected to create $54 Million of capacity for neighborhood projects. Debt service will be $4 million for 20 years if all funds are allocated. Part B: HUD Section 108 Loan Pool (Not yet approved) Expected to create $37 Million for neighborhood projects that create housing, jobs or services for low to moderate income people. Borrowing from HUD against future CDBG allocations. Most projects will be performing loans that will be fully repaid plus interest. 02/19/13 12
- 13. Programs That CanHelp ♦Focus 52 Bond Fund has already been used for: Jordan Crossing = $6.2MM Mercer Commons = $2MM Gateway V = $5.5MM City Council will be considering: Walnut Hills NBD = $2.5MM College Hill NBD = $2.5MM 02/19/13 13
- 14. Programs That CanHelp ♦Focus 52 HUD Section 108 Loan Fund $11 Million for Economic Development Projects $17 Million for House Tax Credit Bridge Loan $7 Million Homeless to Homes Initiative $2 Million Community Development Loan Pool 02/19/13 14
- 15. Programs That CanHelp ♦Focus 52 Priority Areas for Focus 52 While this fund is flexible and can be used for projects in any neighborhood that is ready to meet the goals of the program the following are areas are considered priorities based on existing plans and other programs: GO Cincinnati – Seymour/Reading Corridor, Madisonville, South Mill Creek Walnut Hills NBD College Hill NBD Westwood NBD Uptown Tech Initiative Fresh Food Initiative 02/19/13 15
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- 24. THANK YOU BillFischer Division Manager Economic Development 02/19/13 24