HomeMy WebLinkAbout20181011 Redevelopment Budget Presentation
October 11, 2018
Department of Community Investment
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Funds
* No longer managed by DCI
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Overview of Redevelopment Funds
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Overview of Redevelopment Funds
$28.4 million expected revenue across redevelopment funds
$13.3m for debt service leaves $15.1m of 2019 funds
Major Projects
$4.4m for public works projects, including North Station Filtration Plant, water mains, and booster stations
$1.5m in Parks projects (in addition to TIF bond debt service)
$2m for Western streetscape, Falcon to Dundee
$2m for SE Master Plan implementation (pending TIF realignment)
$800,000 local match to federal funds for coal line trail project
$450,000 for technology resource center operations and programming
$750,000 for Portage-Elwood streetscape
$800,000 for Sherman-Harrison infrastructure/public space
$550,000 for city cemetery entrance (RW TIF)
$500,000 for engineering and design of 2020 WSMS implementation
$385,000 for redevelopment professional services (legal, engineering, TIF management)
$500,000 for Washington Colfax apartments (half of existing commitment, other half in 2018)
$400,000 in West Washington area improvements
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Economic Empowerment (Fund 433)
$250,000 local match for Department of Labor YouthBuild grant — partnering with Goodwill on youth and community development program (ages 16-24)
$150,000 to match Lifelong Learning initiative, in partnership with the Drucker Institute, Google and Walmart, to provide meaningful learning opportunities at all ages and career stages
$135,000 match as part of the Bloomberg Mayor’s Challenge grant application to address workforce transportation gaps
$100,000 small business microloan pilot for owners, whose household income falls under 80% AMI
$100,000 capacity building measures for early childhood education
$80,000 Housing financing gaps, low-value mortgage support
$75,000 CDFI attraction
$75,000 Resident legal assistance program and eviction legal support pilot
2019 Goals
Implement processes associated with new organizational structure, move toward one-stop shop for development/land use, as well as centralized City licensing
Advance neighborhood and housing development program: address financing barriers and move more vacant lots to valuable uses
Increase connectivity of neighborhoods to and around downtown
Continue implementation of WSMS, SE Master, and City Cemetery plans
Update redevelopment area plans, complete zoning reform and enable missing middle housing
Improve resident engagement on City services and direct neighborhood association support
Increase meaningful information available on City services, including better accessibility of information online (e.g. city property database)
Continue to pilot economic empowerment programs
Build on regional leadership in workforce development
Increase financing for small businesses
Promote greater density within the urban core and surrounding neighborhoods
Market our Innovation District and Opportunity Zone for investment
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