The Greater University Circle Wealth Building Initiative aims to revitalize neighborhoods in Cleveland by transforming local assets and fostering shared wealth, with a history dating back to 2003. Key strategies involve leveraging anchor institutions, local procurement, and community engagement to create jobs and address poverty. Despite challenges such as organizational competition and a lack of tenant-ready space, substantial investments and collaborative efforts have led to job creation and reduced vacancy rates in the Health Tech Corridor.

1. Greater University Circle Wealth
Building Initiative
Daniel Budish
Department of Economic Development
City of Cleveland

2. University Circle

3. University VACANT LAND
Circle Vacant Land

4. Water Shut Offs/Tax Delinquencies
/Foreclosures
WATER SHUT OFFS / TAX DELIQUENCIES / FORECLOSURES

5. Overall Distress
NEIGHBORHOODS AT RISK

6. Mission
• The Greater University Circle Initiative
(GUCI) demonstrates how an older industrial
city can build upon its assets to transform
neighborhoods, create jobs, and address
poverty. Transcending physical development
to embrace a communal vision in which wealth
is shared and no one is left out.

7. Timeline
• 2003:
– Neighborhood Connections
• 2005:
– Greater University Circle Initiative
– Evergreen Cooperatives
• 2008:
– RTA’s Healthline opens
• 2009:
– New Bridge
• 2011:
– MidTown Tech Park completed
– Living Cities awards TII to Cleveland for GUCI – $14.75 million
in loans and grants

8. Euclid Ave. Streetscape and BRT

9. Timeline
• 2003:
– Neighborhood Connections
• 2005:
– Greater University Circle Initiative
– Evergreen Cooperatives
• 2008:
– RTA’s Healthline opens
• 2009:
– New Bridge
• 2011:
– MidTown Tech Park completed
– Living Cities awards TII to Cleveland for GUCI – $14.75 million
in loans and grants

11. Challenges
• Geographical Fiefdoms
• Organizational competition
• Difficult to use $$
• Town-Gown Dynamics

12. Programs
Goals
Strategies Buy Hire Live Connect
Local Local Local Residents
Evergreen    
Health Tech Corridor  
Community Engagement   
Programs
Evergreen Cooperative
   
Corporation
HTC Marketing & Attraction   
Neighborhood Connections   
Greater Circle Living 
NewBridge 
Towards Employment 
Local First Cleveland

(new buy local database)

13. Program Focus
Areas
• “Self Help”
– Local Procurement Database,
Strategies
Supplier Attraction, Business • Anchor Leverage
Creation
• 3rd Party Leadership
• Careers, not Jobs
• Common goals
– Evergreen Cooperatives
• Start with a “pilot”
– New Bridge
• Stacked costs
• Live and Work
• Adapt to changing needs
– Greater Circle Living
• Stacked Roles
– Evergreen Home Ownership
• Bridge the gap
– Tenant Improvement Fund
– ECDI – microlending
– NDC - CDFI

14. Focus Area: “Self Help”
“We believe in what we call self-help, meaning if we are spending
money, we should be spending more locally.”
Mayor Frank Jackson
Anchor Institutions spend over $3 Billion/year on goods and
services
"You need to move into the city, or we will find somebody
who will."
Steve Standley, Chief Administrative Officer, University
Hospitals
Programs: Local Procurement Database, Supplier Attraction,
Business Creation

15. Business Creation
Pipeline of home-grown companies that have their full life cycle
in the Health Tech Corridor
Spin-off idea from Anchor Incubator Space  Post-
incubator space
Example:

17. Business Creation: Challenges
Study by Angelou Economics identified a lack of tenant-ready
space. Cited a solution as crucial to keep young, growing
companies in the area.
•Banks have preleasing requirements - won’t fund spec space
•Tech companies are fast growing they cannot commit to
prelease – they need space immediately
•These companies are not credit worthy
•Construction costs>Rents
Solutions – tenant improvement fund, Public subsidies for core
& shell

19. EVERGREEN PRINCIPLES
 Co-ownership by co-op workers and other important
“stakeholders”
 Triple bottom line: community, environment, profit
 Great majority of our workforce hired from GUC
neighborhoods
 Linked to the supply chain of area anchor institutions
 Family supporting living wage & no-cost health care benefits
 Distribution of earnings into capital accounts (wealth
building)
 Career ladders for workers
 Corporate culture of ownership, participation, transparency
and accountability
 Individual co-ops are part of a larger structure that ties them
together into a coordinated and integrated network (ECC)

20. Strategies: Stacked Roles
The Anchors
Community Engagement
The CDCs (MidTown Cleveland, Inc., Fairfax,
University Circle Inc.)
Neighborhood Progress Inc.
Neighborhood Connections
The Neighborhood Voice – Newspaper
The Evergreen Cooperatives
The Funders Capital Attraction/Lending/Technical Assistance
The City of Cleveland Jumpstart
BioEnterprise
The Cleveland Foundation
Economic and Community Development Institute
Living Cities National Development Council
The Anchors
Cuyahoga County

21. Stacked Capital
• Multiple groups with resources
– The City (HUD 108, other loans and grants)
– Cleveland Foundation – very well capitalized Foundation
(top 5 in country)
– Living Cities - $14.75 million
– Anchor partners – purchasing power + large capital
investments
Everybody contribute to each initiative – smaller investments
for each organization
Everybody gets credit for successes
Promotes universal buy-in
Example – The Evergreen Cooperatives

22. Evergreeen Funding Stack
Source Use of Funding Total Funding
Evergreen Initiative* Evergreen Contributed
Cooperative
Development
Fund**
The Cleveland Foundation $560,000 $3,000,000 $3,560,000
Living Cities (Year 1) $125,000 $150,000 $275,000
Case Western Reserve University $250,000 $250,000
Cleveland Clinic $250,000 $250,000
University Hospitals $250,000 $250,000
Higley Fund $50,000 $50,000
Kelvin and Eleanor Smith Foundation $1,000,000
$1,000,000
Minigowin Foundation $900,000 $900,000
Nathan Cummings Foundation $375,000 $375,000
Rockefeller Foundation $650,000 $650,000
Surdna Foundation $300,000 $300,000
Total $2,010,000 $5,850,000 $7,860,000
*The City of Cleveland has also provided $12.35 Million in loans and grants to the
Evergreen businesses.

23. Strategy – 3rd Party Leadership
• Partnership with national Living Cities
legitimizes local efforts
• The Cleveland Foundation can act as the great
convener
Significance:
Focus of Resources – Cleveland Wards
Bringing everybody (including competitors) to the
table

24. City of Cleveland Ward Map
**$65.7 million investment by the City into the HTC Since 2008

25. Outlook Positive
• Investment in the Health Tech Corridor of $365,554,255
• Over 2 million square feet of space built or renovated
• 2000 Jobs Retained
• Over 400 jobs created to date
• 7.6% Vacancy Rate in MidTown (Suburban Competitors
between 10% and 13%)
• Over 400,000 square feet scheduled to open in 2013
• Over 80 high quality careers for Evergreen Employees
• Over 100 people assisted through Greater Circle Living
• Over 60 students in New Bridge – 21 placements so far
(some are still in school or have turned down offers)