SILVER CITY BUSINESS PLAN COMPETITION. LAYTON BOULEVARD WEST NEIGHBORS MISSION: TO STABILIZE AND REVITALIZE SILVER CITY, BURNHAM PARK AND LAYTON PARK.

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Presentation transcript:

SILVER CITY BUSINESS PLAN COMPETITION

LAYTON BOULEVARD WEST NEIGHBORS MISSION: TO STABILIZE AND REVITALIZE SILVER CITY, BURNHAM PARK AND LAYTON PARK

SILVER CITY, BURNHAM PARK, LAYTON PARK

LBWN ECONOMIC DEVELOPMENT Over $7,048,231 in public and private investment 28 building improvements 167 events and business workshops 31 new businesses 116 new jobs created

BUSINESS PLAN COMPETITION BACKGROUND LBWN Rent-To-Own Homes: Renovating 24 foreclosed properties in the Layton Boulevard West, Clarke Square and Muskego Way neighborhoods with Impact Seven and several other partners.

BUSINESS PLAN COMPETITION GOALS Generate excitement for businesses interested in locating in a historic, mixed-use building Innovate business recruitment approach Generate news that promotes positive perceptions of the corridor Provide incentives that attract businesses Unique, place-based approach

FUNDING & INCENTIVES Important to leverage resources from multiple partners to add value to the project. Total incentive package: $13,000 $5,000 business start-up grant Pro-bono legal and accounting assistance Business start- up marketing package Rent incentives, development partners, judges Development Partners

INDICATORS OF SUCCESS Number & Variety of Applicants Strength of Business Plans Success of Business Media Coverage Replicated in two other neighborhoods

WINNER: OUR DAILY SALT Strength of business plan Business that matched construction / renovation framework of LBWN Rent-To-Own Homes Demonstrated commitment to integrating the business as part of the neighborhood

3519 W NATIONAL AVENUE BEFORE

3519 W NATIONAL AVENUE AFTER

OUR DAILY SALT BEFORE

OUR DAILY SALT AFTER

LESSONS LEARNED Partnerships are key both in developing competition and recruiting businesses Continue to assist business afterward Letter of intent is important Factor in appropriate amount of time for business to establish

LEARN MORE ABOUT LBWN Tour of Homes – Saturday, June 6 th 10am-12:30pm FREE Bus Tour Starts/Ends at Urban Ecology Center (3700 W Pierce St) Register:

QUESTIONS?