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Business Park Partnership Program. Prosperity 2021  Part of Strategy to  Encourage Job Creation  Encourage Development of Business Districts (Hargrove,

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Presentation on theme: "Business Park Partnership Program. Prosperity 2021  Part of Strategy to  Encourage Job Creation  Encourage Development of Business Districts (Hargrove,"— Presentation transcript:

1 Business Park Partnership Program

2 Prosperity 2021  Part of Strategy to  Encourage Job Creation  Encourage Development of Business Districts (Hargrove, Airport Area, Pine Lakes, and Roberts Road)

3 Definitions  “Raw Land” – Least desirable situation with highest level of risk in meeting a facility start‐up schedule. The land may or may not have the proper land use and/or zoning and could take 1-2 years before construction of a building could take place. Time Until Occupancy: 2-3 Years Upfront Development Cost: Minimal

4 Definitions  “Shovel Ready” – At this level the basic studies have been completed, environmental permitting is complete, an initial site plan approved, and the utilities and roads have been identified and timing estimated to have them in place. There is also schedule alignment for installation of roads and utilities to be within the critical path of the building construction. Time Until Year Upfront Development Cost: Moderate

5 Definitions  “Pad Ready” – Road is in place, site graded, utilities run to site curb and all preliminary approvals have been received. Building can typically be in place within 6‐9 months depending on scale/complexity of design and processes being installed. Time Until 9 Months Upfront Development Cost: Moderate/Major

6 Definitions  “Spec Building” – Highest level of readiness. Typically, a minor build out of a shell building is the remaining step before a business can move into the building. Time Until Occupancy: <3 Months Upfront Development Cost: Significant

7 Issue  Lack of “Shovel Ready” Sites, “Pad Ready” or Existing Space, Mostly “Raw Land” or Somewhere In-Between  Property Owners and Developers Need a Tenant in order to Make Significant Investment to Develop a Business Park  Prospects want either an Existing Building or a New Building and want to Occupy within One Year  How do we Bridge the Gap?  City Owned Industrial Park (Significant Investment and Risk)  Pad-Ready or Spec Buildings  Business Park Partnership Program  How do we Incentivize Private Sector?

8 Concept  Partnership with Private Land Owners  Goal of Multiple “Shovel Ready/Pad Ready” Sites  State & Regional Permitting  Site Plan Approval  Marketing Materials  City Investment  Permitting Assistance  Sharing in Infrastructure Improvement Costs  Contracting with Local Professionals  Site Plan/Permitting Fees Waived  Marketing Materials  Property Owner Investment  Sharing in Permitting Costs  Infrastructure Improvements  Marketing Materials  Maximum Land Price  Contractual Agreements to Secure Any Public Investment  Negotiable Terms Based on Jobs, Wages, Capital Investment

9 How? and How Much?  Questions that Need Answers  What Property Owners are Interested?  What is the Current Readiness of Property?  What is the Current Price of Property?  What Terms would be Reasonable to the Property Owner?  Request for Letters of Interest  Open to All Property Owners in Palm Coast  Assessment of Whether Program is Viable  Property Owner Interest  Degree of Ownership  Suitability of Property for Development  Permit Approvals Secured and Needed  Investment/Timing Needed for “Shovel Ready/Pad Ready”  Current Asking Price

10 Next Steps  Release Request for Letters of Interest  Assess Professional Consultants Interest  Annual Budget Process  Formal Proposal for City Council Consideration


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