ogden area redevelopment prospectus

16
prospectus

Upload: shock-media

Post on 21-Mar-2016

214 views

Category:

Documents


1 download

DESCRIPTION

Ogden Area Redevelopment Prospectus

TRANSCRIPT

Page 1: Ogden Area Redevelopment Prospectus

pro

sp

ec

tus

Page 2: Ogden Area Redevelopment Prospectus
Page 3: Ogden Area Redevelopment Prospectus

Pro

posa

l for

OA

R:

Ogd

en A

rea

Red

evel

opm

ent

OAR will be a regional business accelerator and incubator featuring 14-25 offices, multiple workstations, a common gathering and conference room that is for startups and entrepreneurs in the region. Tenants will be provided with a 2 year max to ‘graduate’ the incubator program. During the 2 years, tenants must formally set goals and objectives and must meet with OAR staff to evaluate business conditions. Tenants are required to create an action plan and show continued efforts to meet milestones which will include a mandatory once monthly clinic/workshop that will be held at the center with already-established local businesses as the conductors of the clinics and workshops. (i.e. LocalFirst giving a seminar about the benefits and resources of going local, SHOCKmedia giving a branding and marketing clinic, local law offices giving seminars on human resources and legal obligations, CPA’s giving clinics on taxes, etc.)

The mission of the Ogden Area Redevelopment (OAR) is to generate and advance the culture of entrepreneurship in the community and to expand the local and regional economic market.

• Identify and support business opportunities;

• Promote long-term and sustainable economic development within Ogden and the region;

• Support the business community by providing affordable office space and services, training, funding sources, mentoring, and a network of professionals and advisors

About OAR

MISSION STATEMENT

OBJECTIVES

Page 4: Ogden Area Redevelopment Prospectus

The City of Ogden and SHOCKmedia will have created OAR in downtown Ogden to facilitate the development of local entrepreneurship and economy. The facility will cater towards developing young companies, local college and university participation, ventures, and opportunity for entrepreneurs.

While the initial facility will be located within existing space, the vision includes expanding Ogden’s mixed-use development projects depending on the timing of such redevelopment efforts.

OAR will also be located in what will hopefully be renamed ‘the smartzone’, which will eventually host technology-based firms which will contribute to the development of regional networking and educational forums. It is expected that these forums will be an integral component of increasing exposure to the SmartZone while simultaneously providing an avenue for businesses to network and learn about the latest marketing trends.

OAR will also serve as an expanded wireless hot spot made available free of charge to qualifying OAR businesses and their guests. In addition, broadband will be deployed within the incubator facilities.

OAR’s goal is to launch each small business into a permanent location in the Ogden area after their 2-year term is concluded.

VISION

Page 5: Ogden Area Redevelopment Prospectus
Page 6: Ogden Area Redevelopment Prospectus

Efforts to jump-start economics start at the small-business level. While Ogden has not gone unnoticed in their efforts to remain at the top of desirable and progressive areas within Utah and the western United States, pushing the city to the national level is critical and vital to inviting a new generation of residents and businesses to move to the city.

Creating a collaboration of the community to bolster local economy and by creating new opportunities for today’s workforce by thinking outside the box is an important step to re-shaping the future of our state.

Included among the list of others of ‘creating and incubating new local business ventures’ includes University of Wisconsin-Madison; the University of California, San Diego; Brown University; and the Michigan State University-East Lansing community.

There needs to be a way to create synergy between entrepreneurial initiatives, education, city, and community. With good spirit and great effort, there should be substantial growth in Ogden for years to come.

Obviously, OAR is a collaboration of efforts and not just a one-man, one-business investment. To launch OAR, a proposal of the ‘BIG AND BRIGHT IDEAS’ is proposed. Big and Bright Ideas is a contest for a local college entrepreneur to submit one free entry online via YouTube for their best business idea. The winner will receive $1000 toward their idea, free space within OAR, free marketing and branding consultation from SHOCKmedia, and of course all the resources and networking that the OAR space will offer. This will generate press for the new project, as well as generate community efforts and motivate other businesses to donate their services to the winner, as well as urge the LocalFirst mentality.

JUMPSTARTING THE ECONOMY

LAUNCHING OAR

Page 7: Ogden Area Redevelopment Prospectus
Page 8: Ogden Area Redevelopment Prospectus

Proposed locations include: Ensign Plaza South, 455 25th Street, or 2326 Washington Blvd (Ogden’s Hardware Building). OAR needs at least 6,000 sf to house 15 offices and 6 workstations, and would potentially like to have 20 offices and 11 workstations, a reception desk, a conference room, mail center, and kitchen.

Normal business hours are to be between 8:00am - 5:00pm, Monday thru Friday, excepted by designated holidays. Tenants of OAR will have 24/7 access to their offices and shared spaces.

LOCATION

BUSINESS HOURS

Chris MascaroDirector of OARSHOCKmedia317-372-7148 [email protected]: Decision making for OAR as well as protecting the interests of OAR. Priority is to manage the welfare and cooperation of both the members of OAR and to progressively increase business into the city. Hiring, evaluation, as well as long-term and short-term goals and objectives are only some of the duties.

Justin KrudopProject Manager of OARSHOCKmedia317-372-7148 [email protected]: To meet with all tenants and ensure that all tenants and members are increasing their business. Priority is to help each tenant create goals and tasks to further their business. The project manager also helps manage the facility and helps decide OAR’s best interests.

TBALogistical Developer of OARBusiness TBAPhone TBDEmail TBDDescription: To be a community and business liaison as well as determine the monthly seminar and activities. Priority is to maintain contact with the press, the community, and the members and tenants of OAR to create communication flow as well as communicate concerns to and from the members, community, press, and tenants.

Tenants and candidates may reach OAR staff at any time during normal business hours, and via mobile phone for emergencies. TIC staff contact information is provided below:

CONTACT PERSONS

Page 9: Ogden Area Redevelopment Prospectus
Page 10: Ogden Area Redevelopment Prospectus
Page 11: Ogden Area Redevelopment Prospectus

Office space, determined by the number of true offices that can be obtained, will be higher priced between $600-$900 per space, all inclusive. Space will be determined on a first come/first served basis. Ideal tenants would be law offices, marketing consultants, cpa’s, and current ‘at-home’ businesses looking to move into a brick and mortar location.

Workspace will be determined by the space allowed, and will be collaborative space that will not be cubed off, walled off, and will be a desk within open space. Ideal tenants are designers, businesses that need little use of an office but need to have professional space for meetings and conferences.

The conference room is available to tenants who can check out the room in advance on first come/first served basis. Use of the room is free to tenants up to five hours a week during normal business hours. Rooms may be rented to the public during available hours and during non-business hours to generate income to keep the space in good condition and to fund OAR.

Tenants will have the ability to have company names, logos, and signage outside of their offices given they adhere to the design standards of OAR. Signage WILL BE AT THE TENANT’S EXPENSE. Logos will also be placed on the OAR website.

Mail services will be provided to tenants of OAR. Mail will be delivered to tenant’s mail slots and picked up for mailing daily.

TBD by location.

OFFICE SPACE

WORKSPACE

CONFERENCE ROOM

SIGNAGE

MAIL ROOM AND COPY CENTER

PARKING

Page 12: Ogden Area Redevelopment Prospectus

Candidates to OAR MUST have a Utah-based company. Candidates with an out-of-state business must have plans to relocate and re-headquarter to Utah.

Traditional retail businesses will not be considered. Each business is to be determined on a case-by-case basis. The candidate must qualify as a company that provides a product or service. Examples include but are not limited to:

• Software Design and Development • Computer or Accessory Development • Telecommunications • Internet Hosting, Products, Concepts, and/or Design • Healthcare Technology • Multimedia • Engineering (Excluding Businesses with Wet Lab Needs) • Technology Based Security • CPA’s, Legal Offices, and Consulting Firms

The potential tenant must be within the early phases of development or in a ‘restart mode’. Applicants must provide a list of their employees or team members along with their experiences, education, and responsibilities to their company.

BUSINESS LOCATION

INNOVATION PRODUCTS AND SERVICES

DEVELOPMENT

Page 13: Ogden Area Redevelopment Prospectus

A formal business plan is not required but a plan or outline of some sort must be under development. The company must demonstrate a strong market for its products or services, a basic understanding of the target markets, and how the company’s product(s) or service(s) differ from those offered by other competing companies. If the entrepreneur lacks sales experience, the plan must state how sales will be accomplished.

It is preferable that the product and/or company show potential for economic impact in Utah. The applicant should show the type of targeted clients. Overall, the tenant will have a total of two years to graduate from the incubator program, beginning with the initial lease signing.

Companies can elect to be a part of the Virtual Tenant Program at the Ogden Area Redevelopment. The program follows the same requirements as standard tenancy, but does not provide physical office space.

Tenants are encouraged to attend the mandatory once monthly training sessions or seminars a month to maintain good standing with OAR. Tenants are also encouraged to engage in the small business and entrepreneurship programs and networking events. In addition the tenant must meet the following criteria to remain in the program:• The tenant is growing its revenue and/or employment base. • The tenant is making efforts to build a strong management team and/or product development team. • The tenant is able to maintain capital for operation and product/service development. • The tenant is marketing its product/service and is marketing to the appropriate audience. • The tenant has prepared or is in the process of preparing a business plan. • The tenant is maximizing available resources such as shared staffing, PCs, networking meetings, affiliate associations.

BUSINESS PLANS

IMPACT

VIRTUAL TENANT PROGRAM

Use of the INCUBATOR

Page 14: Ogden Area Redevelopment Prospectus

The tenant shall be a candidate for graduation after achieving one or more of the following benchmarks:• The tenant has experienced significant growth and/or profitability .• The tenant no longer needs the services offered by the incubator and the terms of the lease are met.• The space requirements of the business exceed incubator capacity. • The tenant no longer has a need for shared services or shared space. • The tenant is acquired by another firm or entity. • The tenant makes a public offering of its stock.

Telephone Services: Not ProvidedInternet Service: ProvidedConference Room: Provided to Tenants, Non Tenant Fee $15/HourParking: Provided per City RegulationsKeys to Suite: 1 Provided, $10 per extra keyAdditional Parking: TBDVirtual Tenant Program: $50 per Month for MailboxBasic Reception: ProvidedPostal Address with Internal Local Box: ProvidedFax: Not ProvidedCopy: Not Provided unless local copy center installs

GRADUATION

PRICING GUIDELINES

Page 15: Ogden Area Redevelopment Prospectus
Page 16: Ogden Area Redevelopment Prospectus

The benefits of OARAcross America and around the world, many communities lack affordable housing, child care, health care, and jobs that pay a living wage. Putting money into under-served communities as an investment strategy that remedies economic disparity by providing lower-income people access to capital, credit, and training that they otherwise would not have.

Community Investing projects are small and local, and work by lending individuals and local groups the capital they need to improve their own communities in a socially positive and environmentally sustainable way. They focus on affordable housing, small business creation, development of community facilities, and the empowerment of women and minorities.

Community investing, however, is beyond charity and is a sound investment practice. These investments earn competitive returns, like non-community development investments, but also produce a social return that is attractive to investors and helps communities in need.

OAR can spearhead a revitalization effort that will encourage its own residents to put their ideas into action with the support of local businesses and sponsors. These ideas will encourage outside organizations to invest in Ogden, to move their businesses, to increase foot traffic and business flow, and to eventually increase employment. As business grows, so does the effort to increase housing revitalization.

Ogden Area Redevelopment is also about empowering education, youth, and encouraging young entrepreneurs that small business can be a source of satisfaction and that developing your own business is achievable.

Imagine a city in 5 years, where the current OAR graduates have moved into their new offices, decreased vacancy rates, have increased their personal income to afford a home within city limits, and are now encouraging new OAR tenants to do the same. Imagine outside investors seeing growth in Ogden and opening up new branches and businesses downtown. Now imagine new residents pushing investors to create more attractions to increase visitor rates.

It doesn’t happen overnight, but the possibilities can be endless if you are willing to give your community a chance.