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8/11 mayor presentation

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Presentation from Downtown Shakopee Business Leaders Group to Mayor Mars

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8/11 mayor presentation

  1. 1. Downtown Shakopee Business Leaders’ Long-Term Goals - 8/11/2016 Support activity and community awareness of Downtown Shakopee. • Request: Continue support for Main Streets Shakopee program at $25,000 in 2017 Budget. Support high-density residential projects in Downtown Shakopee • The City must lead the way in promoting and encouraging high-density residential projects. • If necessary, utilize TIF and other incentives for qualifying projects. Support Public/Private partnerships to maintain and improve older buildings. • Request: Continue support for Exterior Improvement Loan Program with $150,000 available for loans in the 2017 budget. Support public realm improvements through Downtown Shakopee • Utilize appropriate funding sources for each part of the public realm improvements. (Park reserve for Parks, Public Works CIP for parking lots) • Assess 10% of public realm improvements to Downtown Properties. • Request: Allocate $750,000 in 2017 budget for phased construction of identified public realm improvements.
  2. 2. Long-term Goals for Downtown Shakopee Downtown Shakopee Business Leaders August 11, 2016
  3. 3. Agenda 5:00 - Welcome & Introductions 5:05 - Director of Planning & Dev, Michael Kerski 5:10 - Long-term Goals & 2017 Budget 5:33 - Discussion 5:50 - Adjourn Now - Welcome/Introductions 5:05 - Kerski
  4. 4. Members American Family Insurance Bill’s Toggery eCig Edward Jones First Avenue Framing Grepoli Hometown Bank JMW Law Munkabeans O’Brien’s Public House Pullman Club Real Gem Suntide Realty Turtles Bar & Grill Valley Sports The Yoga Barre Now - Welcome/Introductions 5:05 - Kerski
  5. 5. DT Biz Leader Program Goals 1) Keep downtown businesses informed of governmental actions. 2) Organize a cohesive voice to communicate the priorities of downtown Shakopee businesses with decision-makers. Now - Welcome/Introductions 5:05 - Kerski
  6. 6. Director of Planning and Development, Michael Kerski Now - Kerski 5:10 - Long-term Goals & 2017 Budget
  7. 7. Long-Term Goals Continue support for Main Streets Shakopee program Encourage High-Density Residential in Downtown Shakopee Continue support for Exterior Improvement Loans program Increase financial investment in Downtown Shakopee Now - Long-term Goals & 2017 Budget 5:13 - Exterior Improvement Loan
  8. 8. Exterior Improvement Loan Older downtown buildings are more expensive to maintain and repair than newer buildings. Working together to retain the look and feel of an historic Downtown. Partnering with Downtown property owners is of financial benefit to the City of Shakopee. Now - Exterior Loan Program 5:18 - Downtown Investment
  9. 9. Exterior Improvement Loan Exterior Improvement Loan is working! Downtown properties who have received the loans look incredible and their neighbors have followed suit. Now - Exterior Loan Program 5:18 - Downtown Investment
  10. 10. Exterior Improvement Loan From 2013 to August 1, 2016: $464,337 in forgivable loans $1.6 million in total investment Leveraged $2.46 of private investment for every $1.00 of public investment 33% increase in Property Valuations from 2013 to 2017 Now - Exterior Loan Program 5:18 - Downtown Investment
  11. 11. Cumulative investment per project from 2013 to present Exterior Improvement Loan $0 $400,000 $800,000 $1,200,000 $1,600,000 Public Investment Private Investment Now - Exterior Loan Program 5:18 - Downtown Investment
  12. 12. Exterior Improvement Loan $0.00 $45,000.00 $90,000.00 $135,000.00 $180,000.00 2013 2014 2015 2016 2017 Request End of Year / Current Balance Annual Investment $160,663 $24,859 $37,853 $140,148$140,148 $37,853 $24,859 $160,663 Now - Exterior Loan Program 5:18 - Downtown Investment
  13. 13. Annual Percent Change in Property Values Exterior Improvement Loan -22.5% -15.0% -7.5% 0.0% 7.5% 15.0% 22.5% 30.0% 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fuller / Holmes Holmes / Lewis Lewis / Sommerville Exterior Loan Properties Now - Exterior Loan Program 5:18 - Downtown Investment
  14. 14. Exterior Improvement Loan Continue support for the Exterior Improvement program at $150,000 annually and continue ability to use for any exterior project. Downtown Business Leaders Request: Now - Exterior Loan Program 5:18 - Downtown Investment
  15. 15. Downtown Investment Downtown Shakopee is the core and heart of our Community. A pleasing, inviting public realm is critical to the success of Downtown Businesses and our identity as a Community. Downtown Shakopee is an economic driver for our Community. Now - Downtown Investment 5:23 - High Density Residential
  16. 16. Downtown Investment $0 $5,000 $10,000 $15,000 $20,000 Imagine Print Walmart Target Addison Riva Ridge SB Strip Mall Anchor Bank Downtown Thrivent Turtles $19,086 $14,105 $7,613$7,142$6,972$6,880 $5,406 $3,773$3,641$3,395 City of Shakopee Taxes Collected Per Acre Downtown Shakopee businesses provide the highest per acre revenue of anywhere in the City of Shakopee. Now - Downtown Investment 5:23 - High Density Residential
  17. 17. Downtown Investment Allocate $750,000 in 2017 budget for phased construction of identified public realm improvements. Utilize appropriate funding sources for portions of project. (Park Reserves for Parks, Public Works for Parking Lots) Assess 10% of public realm improvements to Downtown properties. Downtown Business Leaders Request: Now - Downtown Investment 5:23 - High Density Residential
  18. 18. High Density Residential Need to increase foot traffic and young people in the core downtown area. Enthusiastically support R-4 Zoning for apartment projects. Support reduction in surface parking lots with increase in other parking options with new projects. Now - High Density Residential 5:28 - Main Street Shakopee
  19. 19. High Density Residential Now - High Density Residential 5:28 - Main Street Shakopee
  20. 20. High Density Residential Now - High Density Residential 5:28 - Main Street Shakopee
  21. 21. High Density Residential The City of Shakopee and the Shakopee City Council promote and encourage high-density residential projects in Downtown Shakopee. If necessary, utilize TIF and other incentives for qualifying projects. Downtown Business Leaders Request: Now - High Density Residential 5:28 - Main Street Shakopee
  22. 22. Main Street Shakopee Working in conjunction with the Main Street Program Critical for building community awareness 26 New and expanded businesses (12/13/15) Over $4 million in investment (12/13/15) Now - Main Street Shakopee 5:33 - Discussion
  23. 23. Main Street Shakopee Shakopee City Council continues to support the Main Street Shakopee program at $25,000 annually. Downtown Business Leaders Request: Now - Main Street Shakopee 5:33 - Discussion
  24. 24. Discussion Now - Discussion 5:50 - Adjourn
  25. 25. Long-term Goals Increase Downtown Shakopee engagement and activity by supporting Main Streets Shakopee Maintain the Exterior Improvement program which improves the long-term viability and integrity of property. Implement downtown public realm plan in phases. Add high-density residential projects in Downtown to increase foot traffic and long-term viability. Now - Discussion 5:50 - Adjourn
  26. 26. 2017 Budget Requests $25,000 for Main Street Shakopee $150,000 for Exterior Improvement Loan Program $750,000 for phased Public Realm Improvements Now - Discussion 5:50 - Adjourn
  27. 27. Thank you. Now - Adjourn

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