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MAYORS INSTITUTE September, 18, 2013 DESTINATION WHITING, INDIANA

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Striving for Diversified AV Growth Enhance Business Corridors Improve Housing Inventory There are different ways to do it Whiting is betting its through tourism related development OUR STRATEGY

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Luck played a bigger part in our story than talent did Probably no surprise to you! DISCLAIMER

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To give you a perspective of Whitings geography, heres an aerial view of the city LAY OF THE LAND

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WHY TOURISM? Whitings 4 Top Assets are:

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bp

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All 4 Assets support the theme BP - Engaged Partner - Tax $$ - Tourism Asset (think Hershey, PA) Main St. Supports the visitors Pierogi Fest 300K visitors Proximity to Chicago = 9.5 million people WHY TOURISM?

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We knew we needed a catalyst Lakefront Development was the obvious place to start With the help of American Structurepoint, we created a plan Implementation of the Plan was estimated to cost $50M HOW DID WE START?

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We then shopped the plan to anyone who would listen It all came down to finding someone crazy enough to publicly beg for $30M HOW DID WE START?

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LOOK NO FURTHER

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$50M Lakefront Development $20M RDA Grant $20M TIF Bonds (single taxpayer) $6M Federal Grants $3M BP Contribution $1M Pocket Change SECURED FUNDING

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WHATS BEEN COMPLETED?

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WHATS IN PROCESS NOW?

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WHATS on DECK? BPs $4 billion modernization project will hit the tax roles in 2014 Will allow me to: Issue a new bond for $$$ Retire the $20M Lakefront bond

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LF - STADIUM DISTRICT $20M Lakefront Hotel Lakefront Restaurant 150,000 sf mixed-use development 3 in 1 Museum Senior Apartments Residential Condos Single Family Were far from done . 3 years?

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BP plans to build a new ginormous Office Campus $$$ Adjacent to Oil City Stadium All in our TIF Primary driver for location selection was our Lakefront Plan ICING ON THE CAKE

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Analyze your strengths Assets You must have a Plan & Vision No one will take you seriously You dont have to reinvent wheel Shamelessly promote your City until you run out of liquor, then start again TIPs

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Start small We started with acquisitions Recruit a corporate partner(s) Hire a grant writer UTILIZE TIF Be Relentlessly Persistent Took me 7 years TIPs

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If Whiting can get this far with me steering the ship, skys the limit for you guys! ENCOURAGEMENT