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Taggert J. Brooks, PhD
Professor and Chair of Economics
University ofWisconsin-La Crosse
Boom-Time Building
I am an economist.
I am not a prophet, visionary, seer, oracle or a
fortune teller.
Those folks have respectable jobs.
Non...
0
2
4
6
8
10
12
1986 1990 1994 1998 2002 2006 2010 2014 2018
30-Year Conventional Mortgage
Rate
0
2
4
6
8
10
12
1986 1990 1994 1998 2002 2006 2010 2014 2018
30-Year Conventional Mortgage
Rate
0
2
4
6
8
10
12
1986 1990 1994 1998 2002 2006 2010 2014 2018
30-Year Conventional Mortgage
Rate
0
2
4
6
8
10
12
1986 1990 1994 1998 2002 2006 2010 2014 2018
30-Year Conventional Mortgage
Rate
?
As weather officer in
World War II he and
his team determined
long range weather
forecasts were no
better then pulling
the...
“The Commanding
General is well aware
that the forecasts are
no good. However,
he needs them for
planning purposes…”
Ken A...
Why are interest rates so
low?
 Low inflation and contained expectations
 Aggressive action by the Federal Reserve
(QE)
...
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
2007 2008 2009 2010 2011 2012 2013
Fed Agency Debt Mortgage-Backed Securities...
-10%
-8%
-6%
-4%
-2%
0%
2%
4%
6%
2008Q1 2009Q4 2011Q3 2013Q2
Change in GDP since Q1 2008
US
France
Germany
Spain
Italy
Oil Prices
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$0
$50,000
$100,...
0
2
4
6
8
10
12
14
1974 1978 1982 1986 1990 1994 1998 2002 2006 2010 2014
Housing: Vacancy Rates for
Rental Units
1 unit
2...
-
1.0
2.0
3.0
4.0
5.0
6.0
7.0
2000 2002 2004 2006 2008 2010 2012 2014
Foreclosure Rate per 1,000 Housing Units
La Crosse
B...
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
2007 2011 2015
Median Home Prices: Brown
County
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
2007 2011 2015
Median Home Prices: Outagamie
County
$80,000
$90,000
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
2007 2011 2015
Median Home Prices: Winnebago
County
$100,000
$110,000
$120,000
$130,000
$140,000
$150,000
$160,000
$170,000
2007 2011 2015
Median Home Prices: La Crosse
County
80.0
100.0
120.0
140.0
160.0
180.0
200.0
220.0
240.0
Jan-98 Jan-01 Jan-04 Jan-07 Jan-10 Jan-13
Case-Shiller Index of Home ...
Demographics and
Development
 Changing Age Profile (Boomer to
Millennials)
 Changing Preferences?
 Technology and Agglo...
“10,000 Baby Boomers a day will turn 65 –
every single day between now and the
year 2030.”
Paul Taylor – Author, The Next
...
4,000
5,000
6,000
7,000
8,000
9,000
10,000
11,000
1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012
Annual Vehicle Mi...
Risks to Development
 State Budget
 People without vision. (NIMBY)
 Manufacturing Employment
 Dollar Appreciation
Fowler Lake - Oconomowoc
Thanks!
Creating SUSTAINABLE
REDEVELOPMENT and building solutions
that foster NEIGHBORHOOD REVITALIZATION.
Randy Stadtmueller, Pre...
1. Listen to the
Community
2. Identify the
Opportunities
3. Manage the Process
Project for Public Spaces:
Fred Kent
Up Next at 5:00 pm:
WEDC Resources in Action
DEVELOPMENT
RESOURCES IN ACTION
IN WISCONSIN
InDevelopment
March 12, 2015
ALIGNING RESOURCES WITH NEEDS
WEDC
Division of Economic
and Community
Development
Division of
Entrepreneurship and
Innovat...
IMPACT
DISCUSSION “TRIGGERS”
The following topics lend themselves to a discussion with
a WEDC representative about possible state...
SITE ASSESSMENT GRANT PROGRAM
Provides assistance to local governments to conduct initial activities and
investigations at...
SAG IN ACTION
The Morgan District (Former Jeld-Wen site), Oshkosh
West Waterfront Redevelopment (former Co-op site),
Sturg...
BROWNFIELD GRANT PROGRAM
Provides assistance for the redevelopment of contaminated properties
Grant: Up to $500,000 (70% m...
BROWNFIELD IN ACTION
Metreau Apartments, Green Bay
City Deck Landing, Green Bay
The Rivers II, Oshkosh
Foremost Farm Site,...
COMMUNITY DEVELOPMENT INVESTMENT
GRANT
Provides assistance for the catalyst project in communities and planning efforts to...
CDI GRANT IN ACTION - PLANNING
Tecumseh Redevelopment Planning, New Holstein
Downtown Site Development/Recruitment, Sister...
CDI GRANT IN ACTION - IMPLEMENTATION
Grand Kakalin, Kaukauna
Super Valu Grocery Store Development,
Florence and Menasha
Re...
HISTORIC TAX CREDITS
20% state, 20% federal
On National Register
• Listed individually
• Listed contributing to district
%...
HTC IN ACTION
Dealerfire, Oshkosh
Platten Place, Green Bay
Northland Hotel, Green Bay
Legacy Architecture, Sheboygan
Linco...
OTHER TECHNICAL RESOURCES
LocateInWisconsin.com
• Available Sites and Buildings
• Demographic data
InForce Network
Certifi...
CONTACTS
Naletta Burr
Community Account Manager
(608) 210-6830
naletta.burr@wedc.org
Melissa Hunt
Regional Account Manager...
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InDevelop15

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Combined slides from #InDevelop15 conference. http://www.insightonbusiness.com/indevelopment/

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InDevelop15

  1. 1. Taggert J. Brooks, PhD Professor and Chair of Economics University ofWisconsin-La Crosse Boom-Time Building
  2. 2. I am an economist. I am not a prophet, visionary, seer, oracle or a fortune teller. Those folks have respectable jobs. Non-Standard Disclaimer:
  3. 3. 0 2 4 6 8 10 12 1986 1990 1994 1998 2002 2006 2010 2014 2018 30-Year Conventional Mortgage Rate
  4. 4. 0 2 4 6 8 10 12 1986 1990 1994 1998 2002 2006 2010 2014 2018 30-Year Conventional Mortgage Rate
  5. 5. 0 2 4 6 8 10 12 1986 1990 1994 1998 2002 2006 2010 2014 2018 30-Year Conventional Mortgage Rate
  6. 6. 0 2 4 6 8 10 12 1986 1990 1994 1998 2002 2006 2010 2014 2018 30-Year Conventional Mortgage Rate ?
  7. 7. As weather officer in World War II he and his team determined long range weather forecasts were no better then pulling them out of a hat. Ken Arrow, Nobel Laureate in Economics
  8. 8. “The Commanding General is well aware that the forecasts are no good. However, he needs them for planning purposes…” Ken Arrow, Nobel Laureate in Economics
  9. 9. Why are interest rates so low?  Low inflation and contained expectations  Aggressive action by the Federal Reserve (QE)  The rest of the world is struggling, leaving the US as a safe haven for investment.
  10. 10. $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 2007 2008 2009 2010 2011 2012 2013 Fed Agency Debt Mortgage-Backed Securities Purch Liquidity to Key Credit Markets Lending to Financial Institutions Long Term Treasury Purchases Trillions
  11. 11. -10% -8% -6% -4% -2% 0% 2% 4% 6% 2008Q1 2009Q4 2011Q3 2013Q2 Change in GDP since Q1 2008 US France Germany Spain Italy
  12. 12. Oil Prices
  13. 13. $0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 $1,000,000 $1,100,000 $0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1993 1996 1999 2002 2005 2008 2011 2014 Construction Spending Millions of Dollars Total Public Construction Spending Left Axis Total Private Construction Spending Right Axis
  14. 14. 0 2 4 6 8 10 12 14 1974 1978 1982 1986 1990 1994 1998 2002 2006 2010 2014 Housing: Vacancy Rates for Rental Units 1 unit 2 or more units 5 or more units
  15. 15. - 1.0 2.0 3.0 4.0 5.0 6.0 7.0 2000 2002 2004 2006 2008 2010 2012 2014 Foreclosure Rate per 1,000 Housing Units La Crosse Brown Outagamie Winnebago
  16. 16. $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $160,000 2007 2011 2015 Median Home Prices: Brown County
  17. 17. $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $160,000 $170,000 2007 2011 2015 Median Home Prices: Outagamie County
  18. 18. $80,000 $90,000 $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 2007 2011 2015 Median Home Prices: Winnebago County
  19. 19. $100,000 $110,000 $120,000 $130,000 $140,000 $150,000 $160,000 $170,000 2007 2011 2015 Median Home Prices: La Crosse County
  20. 20. 80.0 100.0 120.0 140.0 160.0 180.0 200.0 220.0 240.0 Jan-98 Jan-01 Jan-04 Jan-07 Jan-10 Jan-13 Case-Shiller Index of Home Prices Phoenix Minneapolis 7 Rivers Region
  21. 21. Demographics and Development  Changing Age Profile (Boomer to Millennials)  Changing Preferences?  Technology and Agglomeration Effects
  22. 22. “10,000 Baby Boomers a day will turn 65 – every single day between now and the year 2030.” Paul Taylor – Author, The Next America
  23. 23. 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 1972 1976 1980 1984 1988 1992 1996 2000 2004 2008 2012 Annual Vehicle Miles Traveled/Population
  24. 24. Risks to Development  State Budget  People without vision. (NIMBY)  Manufacturing Employment  Dollar Appreciation
  25. 25. Fowler Lake - Oconomowoc
  26. 26. Thanks!
  27. 27. Creating SUSTAINABLE REDEVELOPMENT and building solutions that foster NEIGHBORHOOD REVITALIZATION. Randy Stadtmueller, President / Principal Renee Torzala, Vice President / Principal
  28. 28. 1. Listen to the Community 2. Identify the Opportunities 3. Manage the Process Project for Public Spaces: Fred Kent
  29. 29. Up Next at 5:00 pm: WEDC Resources in Action
  30. 30. DEVELOPMENT RESOURCES IN ACTION IN WISCONSIN InDevelopment March 12, 2015
  31. 31. ALIGNING RESOURCES WITH NEEDS WEDC Division of Economic and Community Development Division of Entrepreneurship and Innovation Division of Business and Industry Development Division of International Business Development Prospering Communities & Businesses Entrepreneurial Spirit Specialized Industry Leadership Global Outlook > > > >
  32. 32. IMPACT
  33. 33. DISCUSSION “TRIGGERS” The following topics lend themselves to a discussion with a WEDC representative about possible state assistance: • Gap financing for a catalytic project • Historic Preservation • Place-making initiatives • Brownfield issues • Redevelopment initiatives • Economic strategies • Gap financing for business growth
  34. 34. SITE ASSESSMENT GRANT PROGRAM Provides assistance to local governments to conduct initial activities and investigations at environmentally contaminated properties Grant: Up to $150,000 – 33% Match minimum Eligible activities include: • Phase I and II Environmental Assessments • Remedial Action Plans • Demolition of structures (including asbestos) • Removal of underground storage tanks or hazardous waste containers
  35. 35. SAG IN ACTION The Morgan District (Former Jeld-Wen site), Oshkosh West Waterfront Redevelopment (former Co-op site), Sturgeon Bay Mirro Plant, Manitowoc 97 Ellis Street, Kewaunee Menekaunee Harbor, Marinette
  36. 36. BROWNFIELD GRANT PROGRAM Provides assistance for the redevelopment of contaminated properties Grant: Up to $500,000 (70% match) Eligible applicants include local governmental units and businesses (non-for-profit and for-profit) Eligible activities include: • Site Investigations, Remedial Action Plans and cleanup activities • Building demolition or renovation • Infrastructure improvements
  37. 37. BROWNFIELD IN ACTION Metreau Apartments, Green Bay City Deck Landing, Green Bay The Rivers II, Oshkosh Foremost Farm Site, Appleton
  38. 38. COMMUNITY DEVELOPMENT INVESTMENT GRANT Provides assistance for the catalyst project in communities and planning efforts to support redevelopment Grant: up to $500,000 for implementation; $50,000 for planning 75% match required, can include private and public funds Local government is the applicant Competitive Rounds (April 17th next due date) Eligible expenditures include: • Historic Preservation • New construction • Branding/Marketing • Feasibility Studies • Redevelopment Plans
  39. 39. CDI GRANT IN ACTION - PLANNING Tecumseh Redevelopment Planning, New Holstein Downtown Site Development/Recruitment, Sister Bay Town Square Re-Use Feasibility, Green Lake Nicolet Square Redevelopment, DePere Downtown Planning, Sherwood
  40. 40. CDI GRANT IN ACTION - IMPLEMENTATION Grand Kakalin, Kaukauna Super Valu Grocery Store Development, Florence and Menasha Retlaw Theater Redevelopment, Fond du Lac Dealerfire, Oshkosh Northland Hotel, Green Bay
  41. 41. HISTORIC TAX CREDITS 20% state, 20% federal On National Register • Listed individually • Listed contributing to district % based on investment to property Credit is transferable Work with State Historic Preservation Office
  42. 42. HTC IN ACTION Dealerfire, Oshkosh Platten Place, Green Bay Northland Hotel, Green Bay Legacy Architecture, Sheboygan Lincoln School, Shawano Grand Kaklin, Kaukauna … and many more!
  43. 43. OTHER TECHNICAL RESOURCES LocateInWisconsin.com • Available Sites and Buildings • Demographic data InForce Network Certified Sites Marketing Materials
  44. 44. CONTACTS Naletta Burr Community Account Manager (608) 210-6830 naletta.burr@wedc.org Melissa Hunt Regional Account Manager (608) 210-6780 melissa.hunt@wedc.org Jon Bartz Regional Account Manager (608) 210-6846 Jon.bartz@wedc.org

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