Laney Walker/Bethlehem Community Planning Assistance Team December 19, 2013 Augusta, GA.
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Transcript of Laney Walker/Bethlehem Community Planning Assistance Team December 19, 2013 Augusta, GA.
Laney Walker/BethlehemCommunity Planning
Assistance Team
December 19, 2013Augusta, GA
Team MembersCarson Bise, AICP, Bethesda, MDTischlerBise
Julie Franklin, AICP, Greenville, SCLawrence Group
Charles Graves, Cincinnati, OHCity of Cincinnati
Thomas Bassett, Washington, DCAmerican Planning Association
THE PROJECTWhere are we?
Progress to DateThree and a half years is a short period of time
Development activity in 4 project areasHeritage PineTwigs CircleHolly Street CommonsEast Mill Village
Leveraging nonprofit private partnersHouse of PrayerAntiochHousing Authority
National Awards
Challenges
• Financing/Lack of General
Fund Support
• Private Investment Interest
• Regulatory/Zoning
• Staffing Structure
• Communication
Opportunities
• Available Financing
• Residents
• Community Partners
• Assembled Land
• Downtown
• Capacity Building
PROJECT FINANCING
Recap of Current Financing for LWB
Long-term bond funding
$38.5 million through 50-year hotel fee
$750,000/year for planning, land acquisition and gap financing
$550,000 is pledged to debt, leaving $200,000 for discretionary spending
Supplemented with HOME, NSP and CDBG
No General Fund support to date
Progress
Starting to show positives
$4.3 million increase in assessed value
Starting to generate revenue from
property sales
Economic Evidence/RealitiesLaney Walker/Bethlehem is one of several target areas
Harrisburg
Turpin Hill
Olde Town
East Augusta
City will have to adapt to new reality
Cost of disinvestment
Infill typically generates more revenue per acre
NEXT STEPS
Urban Core as Economic Development
The Laney Walker/Bethlehem development has the potential to be the catalyst
for further redevelopment of the City's downtown and riverfront areas.
Financing
• Fund Bridge Loan
• Allocate general funds to project
• Identify additional funding streams
• Strengthen local partnerships
Regulatory
• Streamline Development Permitting Process
• Review long-term zoning process
Management Structure
• Staffing
• Reduction of consultant hours
• Dedicated internal point person
• Transition to internal structure• Development Role
Project Focus
• Heritage Pine
• Twiggs Circle
• Market Properties
FUNDING STRATEGY
Alternative Revenue StreamsLocal Initiatives Support Coalition (LISC)
Georgia Employment Incentive Program (EIP)
Regional Economic Business Assistance (REBA)
Downtown Development Revolving Loan Fund
General Fund support/additional bonding
New revenue sources (e.g. Insurance Premium Tax)
Laney Walker/BethlehemCommunity Planning Assistance Team
Carson Bise, AICP, Bethesda, MDTischlerBise
Julie Franklin, AICP, Greenville, SCLawrence Group
Charles Graves, Cincinnati, OHCity of Cincinnati
Thomas Bassett, Washington, DCAmerican Planning Association