t.a.l.k. technical assistance learning kit

COMMISSIONERSJimmy DimoraTimothy F. HaganPeter Lawson Jones

Cuyahoga County Department of Development

T.A.L.K.Technical Assistance

Learning Kit

Agenda

Welcome: Mayor Thomas P. Perciak • Opening Remarks: Paul Oyaski, Director

Department of Development

Commercial Redevelopment Fund • Christine Nelson, Community Development Manager

Department of Development

Site Selection Program • Shilpa Kedar, Director Attraction & Expansion Team

Neo

• Tracey Nichols, Assistant Director Department of Development

Roundtable Technical Assistance

TALK


Mayor Thomas P. Perciak

City of Strongsville


Director Paul Oyaski

Cuyahoga County Department of Development


Commercial Redevelopment Fund


BOCC authorized $13 million pilot program to

overcome barriers to the full re-use of

commercial and industrial properties

Job creation and an increase in property

values are expected outcomes


Three funding opportunities:• Municipal Redevelopment

• Private Redevelopment

• Local Parking Needs

Funding Availability 2007 2008 2009

Municipal Project (February - once a year competitive fund)

$2,275,000 $2,275,000

Private Redevelopment Fund $3,575,000 $3,575,000

Local parking Needs Fund $650,000 $650,000

TOTAL $13,000,000 $4,225,000 $6,500,000 $2,275,000

Municipal Redevelopment

$800,000 Loan maximum

Sliding scale of forgiveness

Buildings must be 20 years or older and

40% or more vacant for at least two years OR

Building must have lost 100+ jobs in last year


Open to all suburban communities.

One project per community per year

Annual competitive funding round

February 29, 2008


• Must have a development agreement

• Do not need an identified end user

• Must sell/lease property to a for-profit end user

• 10% income tax sharing for 5 years after occupancy


Payments and interest deferred for 3 years

Loan repaid upon transfer of property or

5 year term at 6% 50% of loan may be used for property

acquisition (if purchased within one year prior to application)


Scoring Criteria: Existing Structure

Age of Building

Size of Building

Percentage Vacant

Length of Vacancy


Scoring Criteria: Redevelopment Type of Project

• Historic Preservation• Rehabilitation• Demolition

Eligible Costs

Leverage


Scoring Criteria: Projected Outcomes

Primary Use

Job Creation

Economic Benefit


Fairview Park Lorain Road circa 1999


Fairview Park Lorain Road circa 2007


COMMERCIAL REDEVELOPMENT FUNDwww.cuyahogacounty.us/crf

Christine NelsonCommunity Development [email protected]

Pequita HansberryDevelopment Finance [email protected]


Site Selection Program

Site Selection: Why Participate?

Companies that use site selectors are usually making a large investment of capital and creating MANY new jobs

A single new company can bring large amounts of new revenue to the region and to your community

Site Selection: How Can We Be More Competitive?

We have to know what’s available

We need COMPLETE information

The turn-around is quick so the information must be READY!

Site Selection: How To Get Maximum Exposure

List your sites on PROCURE List your sites on Cleveland Plus Make sure all the information is

complete on the sites Complete a fact sheet on your

community- tax rates, distance to airport, utilities information, etc.

Site Selection: What Not To Do

DO NOT talk about problems or drawbacks in communities you believe you are competing with!

DO NOT miss the deadline and expect to be included in the submission package!

DO NOT call us continually asking for an update!

Site Selection: Recent Examples of Problems

Project Yosemite- every site submitted was not on Procure

The community sites do not include all the info we need, so we have to spend time trying to contact you

Sites e-mailed back to us did not meet the minimum criteria requested- wasting valuable time in the process


Roundtable Discussion

TALK

t.a.l.k. technical assistance learning kit

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