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The Detroit Economic Growth Corporation Midtown: A case Study Stay Focused. Be Efficient. Prioritize. CNU XV Presented to
2 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Midtown Context
3 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Initiatives - TechTown Land Assembly Tax Increment Financing Abatement Support Loans and Capital
4 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Initiatives – Housing /Retail Abatement Support Brownfield Credits Loans and Capital
5 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Initiatives – Streetscapes State Grant Assistance Construction Management Community Partnering Design Coherence
6 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Brush Park 1950-1996 Abandonment and Decay $65 million in City investment
7 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Land Assembly – Brush Park Approx 110 Tax Reverted Parcels 82 private parcels through condemnation & quiet acquisition Relocation of non- suitable uses Competitive RFPs for bundled parcels 1700 new construction housing units 300 – 400 rehabilitated units
8 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Infrastructure – Brush Park $25 million New Utilities Complete road reconstruction New sidewalks Decorative street lights Street Trees Rebuilt abandoned and closed streets Reopened two – way traffic
9 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Stabilization – Brush Park Historic Stabilization Identify candidate structures Stabilize / Mothball Loans and abatements
10 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Restoration – Brush Park Residential Abatement Support Brownfield Credits
11 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Restoration – Brush Park Commercial Abatement Support Brownfield Credits Loans
12 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Infill – Brush Park
13 © 2007 DEGC Confidential and Proprietary Information www.DEGC.org Page No. Mixed Use – Brush Park Brush Park Manor – Presbyterian Village Hospice of Michigan
Waterfront Development Master Plan Kingston, Tennessee Bullock, Smith & Partners, Inc. Knoxville/Nashville, Tennessee Master Planners/Architects/Landscape.
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The Detroit Economic Growth Corporation UM BA 517- Real Estate Essentials Class Presented to.
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Tax Increment Financing Town Center Project Midwest City, OK.
Counties Can Be Great Partners Minnesota Association of Rural Telecommunications – October 11, 2007.
Economic Development Strategy Institutional Frameworks – Public Salt Lake City – Private Chamber of Commerce – Partnership Economic Development Corporation.
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Michigan Economic Development Corporation Michigan 2007 CDBG Program.
Jubail Industrial City A $45 Billion Super Project
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Tax Increment Thomas Chapman Raymond James John Repsholdt Ehlers Steven Langert Consolidated High School District 230.
1 JESSICA and EIB financing of Cities Working with the EIB Katowice, January 11 and 12, 2007 Frank Lee January 2007 Financial Instruments to Support Urban.
Created in July 2000 Acres – 598 Residents - 4,506 Low income, minority population.
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Commercial and Mixed-Use Development Nonprofit Commercial projects Types of Financing DEBT Senior Debt –Bank Loan –Bond Financing Subordinate Debt –Community.
Our mission is to acquire, develop, and preserve community assets in urban areas for a variety of community needs such as schools, affordable housing,
Local Government Preservation: Preservation where it counts.
Mark Kinsler VP, International Business Development Michigan Economic Development Corporation Foreign Direct Investment & Exports.
Transportation Finance Advisory Committee, June 2012 fafa Value Capture Strategies for Transportation Finance Zhirong (Jerry) Zhao Associate Professor.
IPED Historic Tax Credits For Developers. Artspace Was founded in 1979 as an advocate for the space needs of artists in Minneapolis’ historic Warehouse.
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Key data of Lithuania. Development of new business and administration centre in the City of Vilnius.
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Transportation Possible Goal Provide convenient alternative transportation options to dramatically reduce our City’s fuel consumption. Example Actions.
Steel Valley Intergovernmental Initiative: The Boroughs of Homestead, West Homestead and Munhall.
TAX BENEFITS FOR THE GO ZONE Richard S. Goldstein IPED March 29, 2007 St. Petersburg, Florida.
Woodbine Community Development. 25 Façade Renovations – CDBG Façade Master Plan 4 Complete (Interior & Exterior) Historic Renovations 19 Main Street Apartments.
Hamilton Chamber of Commerce – Energy and Environment Committee December 14, 2010.
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