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