8/11 mayor presentation

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.

Long-term Goals for Downtown Shakopee

Downtown Shakopee Business Leaders August 11, 2016

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

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


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.


Director of Planning and Development, Michael Kerski

Now - Kerski 5:10 - Long-term Goals & 2017 Budget

Long-Term GoalsContinue 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

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


Exterior Improvement Loan is working!

Downtown properties who have received the loans look incredible and their neighbors have

followed suit.



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


Cumulative investment per project from 2013 to present


$0

$400,000

$800,000

$1,200,000

$1,600,000Public Investment Private Investment



$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


Annual Percent Change in Property Values


-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



Continue support for the Exterior Improvement program at $150,000 annually and continue

ability to use for any exterior project.

Downtown Business Leaders Request:


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

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.


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.



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

High Density ResidentialNow - High Density Residential 5:28 - Main Street Shakopee

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.


Now - High Density Residential 5:28 - Main Street Shakopee

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

Main Street Shakopee

Shakopee City Council continues to support the Main Street Shakopee

program at $25,000 annually.


Now - Main Street Shakopee 5:33 - Discussion

Discussion

Now - Discussion 5:50 - Adjourn

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.


2017 Budget Requests

$25,000 for Main Street Shakopee

$150,000 for Exterior Improvement Loan Program

$750,000 for phased Public Realm Improvements


Thank you.

Now - Adjourn

8/11 mayor presentation

Government & Nonprofit

Transcript of 8/11 mayor presentation