CNUNE Summit - Brian O’Looney

Public Involvement: City built streets, City Hall anchor; TIFF financing SOUTHLAKE TOWN SQUARE, Southlake, TX

Torti gallas and partners Architects of Sustainable Communities

Brian O’Looney Torti Gallas and Partners

REWARDS: Conventional vs. Pedestrian-Oriented Development Net Fiscal Impact Analysis


Public Involvement: City built streets, City Hall anchor; TIFF financing SOUTHLAKE TWN SQ, Southlake, TX

David M. Schwarz/Architectural Services, Inc.

Ritualized activity programming.
- Weekly Running groups
- Weekly Farmer’s Market
- Organized or Destination Pick-up Chess
- (Summer) Daily Play Fountain
- Seasonal Art Show
- Annual Car Show
- Weekend Concerts
- Mushroom Festival
- Annual Octoberfest


Under a tax increment financing plan, the county, city of Beavercreek, Beavercreek Twp. and Greene County Career Center agreed to
divert 15 percent of their property tax revenue from The Greene for up to 25 years to pay for a share — about $6.3 million — of the work.
The county commissioners will divert 100 percent, although they will get sales taxes, of their share, plus contribute $300,000 a year from
their general fund. The county issued bonds to finance the $6.3 million, plus another $6 million that would be paid back with interest
through special assessments against The Greene and its tenants. --- Prior to approving the loan, the county got a letter of credit from a
bank, guaranteeing that The Developer will repay the $14.8 million. Plus, if The Greene doesn't generate enough property taxes to repay
the debt, the county will levy special assessment against the property. Also, since The Greene's property value is expected to exceed $186
million, the developer can't ask the county to reduce that value until after the debt is paid in full. The Developer has 25 years to repay the
loan, but if The Greene is valued at $250 million or more, which is a possibility, the bonds could be paid off in about 10 years.

Numerous Public Incentives THE GREENE, Various Architects


Public Involvement: City land swap, Civic anchors; MMD financing FRISCO SQUARE, Frisco, TX

USE PUBLIC FINANCING TOOLS AS MUCH AS POSSIBLE

Public Involvement: City land swap, Civic anchors; MMD, Utility financing FRISCO SQUARE, Frisco, TX


Public Involvement: City land swap, Civic anchors; MMD financing FRISCO SQUARE, Frisco, TX


Financing for the project comes from different sources, including the developer and the sale of $92.5-million in 30-year
bonds. To repay the bonds, the City levied a special ad valorem real estate tax in the amount of $0.25 per $100 value. In
addition, the city diverts all incremental taxes above those collected during a base year as well as 50% of incremental sales
tax, 25% of incremental meals tax and 50% of incremental amusement tax. There is also a facility charge transaction fee
(.5% fee applied to all retail purchases and fine dining) that is collected by the City Council approved Community
Development Authority.


Financed with new tack-on sales tax


Ground Lease using rent stream propelled fund for structured parking TWINBROOK METRO CENTER, Rockville, MD


Public Incentives include reduced cost land, underground garage construction, tax rebates etc. COLUMBIA HEIGHTS, DC, Various Architects


Issues Influencing Municipalities
Financial Pressure, Inefficiency and Overextension

• Reduced Access to Capital
• Federal and State Reductions in Funding
• Underfunded Pensions
• Increased Operational Costs
• Aging Infrastructure
• Outsourcing of Manufacturing
• Transfer of Jobs Out of Community
• High Impact on Environment

22

Current Situation for Municipalities
Reevaluation of Priorities and Value System

• Real Estate & Property Devaluation
• Large Budget Deficits
• Reduction in Services to Community
• Lack of Distribution Efficiency
• Unrealistic Bond Debt Structures
• Import Based Model
• Revenue Reduction to Community
• Non‐Sustainable

23

Alignment of Interests
True Public-Private
Partnership

24

Turner, TGP and Stubbs Enterprises US Patent Building, CARLYLE, Alexandria, VA

University of Hartford

Turner, Torti Gallas and Stubbs Enterprises PROJECT AT NORTH BROAD, Philadelphia, PA

CNUNE Summit - Brian O’Looney

Recomendados

Recomendados

Mais conteúdo relacionado

Semelhante a CNUNE Summit - Brian O’Looney

Semelhante a CNUNE Summit - Brian O’Looney (20)

Mais de New England Chapter of the Congress for the New Urbanism

Mais de New England Chapter of the Congress for the New Urbanism (20)

Último

Último (20)

CNUNE Summit - Brian O’Looney