Good morning and thank you for allowing us to share our story with you today. As the gateway to the Inland Empire, Corona has a proven track record for being the premiere address. With approximately 85,000 jobs in the city and an average household income of $85,000, we are surpassing communities in Orange County. Corona is one of the only communities with executive style housing as well as workforce housing. A snapshot of what I will talk about today has to do with Corona’s evolution. Team Corona, Redevelopment areas, and several transportation corridors are transforming.
Corona recognizes the importance of workforce housing to succeed. We have allowed community members to Dream again. HOAP Now is a new first time homebuyers program which provides assistance to families that have not bought homes in the last three years. Not much positive has come with the housing correction, but without that correction HOAP Now would not be here today.
As you could see even with the economic downturn we have been fortunate to sustain strong demographics. Since Team Corona’s inception, more than 55,000 jobs have been created. This gives approximately 1 job for every two residents. If it has an economic impact, we touch it.
As I mentioned earlier the Team Corona program is the business attraction, retention, and expansion umbrella for the Economic Development department. TeamCorona.com is a business portal recently developed to help businesses streamline their time to market. The purpose of the site is for developers, site selectors and businesses to conduct due diligence on sites allowing them to make educated decisions on their business. We loaded the site with resources, partnerships, technology, and streamlined the permitting process.
Interactive GIS map Provides detailed information for brokers, developers and site selectors Report allows for zoning, acreage, & utilities which is most valuable when deciding on a site Ongoing negotiation with IT to get Utility info because of 911
Partnership between EDD & the city of Corona Pilot program for the State of California Candidates attain multiple hours of training before recording and to polish their resume Currently there are 25-30 candidates on the site State plans to incorporate these video resume sites across the state
Web-based site location tool many of you use We partnered with loopnet to include available properties in Corona Allows business owners to do searches from the comfort of their own state
Transportation is always a big deal in Corona. Just talk to the people coming down the hill from Sierra del Oro in the morning. It will no longer take an hour to get on the freeway. The widening of the bridge at Green River is nearing completion and ahead of schedule. It is estimated to be complete first quarter 2009.
The Magnolia on/off ramp and the bridge lights are the most infamous in Corona. Our Public Works department has a great working relationship with CALTRANS and even with that relationship those lights still cannot be synched. The good thing about this area is that it is getting improved. Construction started early 2008 and is planned to be completed 2010. Just a reminder that it will get worse before it gets better, but ultimately this will be a functional ramp.
Corona’s evolution is in full swing and Team Corona is excited to be part of it. Soon you will see development again, and workforce and companies will continue coming through the canyon filling the new developments. Team Corona thanks you for allowing us to share our story today and welcome your business in Corona.
MAKING IT HAPPEN!
COUNCIL SANCTIONED - SUPPORTED
-COUNCIL SANCTIONED – SUPPORTED -MAJOR COMMERCIAL THOROUGHFARE - MIXED-USE DEVELOPMENT - TRANSIT ORIENTED OPPORTUNITIES -AGENCY HAS CONTROLING INTEREST IN SHOPPING CENTER
WRCOG SPONSORED STUDY – DETERMINE VIABILITY OF TRANSIT ORIENTED DEVELOPMENT SURROUNDING METROLINK STATION IN THE INLAND EMPIRE - RESULTS THAT NORTH MAIN IS EXTREMELY VIABLE
Demographics <ul><li>Total Payroll- $3.23 billion </li></ul><ul><ul><li>Increase of 94.2% since 2000 </li></ul></ul><ul><li>More than 85,000 employees </li></ul><ul><ul><li>1 job for every two residents </li></ul></ul><ul><ul><li>Population150,000 </li></ul></ul><ul><li>Average Household Income- $84,641 </li></ul><ul><ul><li>32.7% of HH eared $100,000 </li></ul></ul>
<ul><li>GIS—Geographic Information </li></ul><ul><li>System </li></ul>
Link to Caltrans web site for project information: http://www.dot.ca.gov/dist8/projects/riverside/sr91greenriver/index.htm Responsible Agency: Caltrans Construction Began: April 2007 Construction to be Completed: April 2009 Construction Cost: $22 Million
Construction Schedule Begin: January 2008 Completion: February 2010 Construction Cost: $15 Million Magnolia Project
<ul><li>Daniel L. Rittatore </li></ul><ul><li>736-2297 </li></ul>Judi Staats 739-4946 Michell Skipworth 279-3690 Economic Development Team Corona
<ul><li>City of Corona-Redevelopment Agency </li></ul><ul><li>Cynthia Lara </li></ul>
REDEVELOPMENT <ul><li>GENERAL APPROACH: </li></ul><ul><li>All efforts and activities are to position Agency </li></ul><ul><li>for FUTURE development: </li></ul><ul><li>~Land Assembly/ POSSESSION~ </li></ul><ul><li>~Monitoring Market, City & Agency NEEDS~ </li></ul><ul><li>~ COMMUNICATION w/Development sector~ </li></ul><ul><li>~FINANCING opportunities~ </li></ul><ul><li>~Internal COLLABORATION w/City Dept.~ </li></ul><ul><li>~ ENTITLEMENTS~ </li></ul>
REDEVELOPMENT <ul><li>DOWNTOWN: </li></ul><ul><li>~Prime LOCATION: </li></ul><ul><li>-FREEWAY access (91FWY & I-15) </li></ul><ul><li>-High VISIBILITY </li></ul><ul><li>-Near PUBLIC TRANSIT </li></ul><ul><li>- Adjacent to MEDICAL hub </li></ul><ul><li>~Development Options – MIXED USE </li></ul><ul><li>~ Agency role – POSSESSION </li></ul><ul><li>- Corona Mall (17 prop. – approx. 12 acres) </li></ul><ul><li>-West of Corona Mall (12 prop. – approx. 3acres) </li></ul>
REDEVELOPMENT <ul><li>NORTH MAIN STREET </li></ul>
REDEVELOPMENT <ul><li>North Main Parking Structure </li></ul><ul><li>Construction Start: January 2008 </li></ul><ul><li>Est. Construction Completed: July 2009 </li></ul>