ECONOMIC RESTRUCTURING

Strengthening the existing economic assets of the business district while diversifying its economic base. The process begins with two critical steps, undertaken concurrently: (1) compiling a thorough inventory of the district’s existing building and businesses; and (2) conducting a market analysis to provide a profile of the area through an examination of demographic statistics, current economic trends and future projections.

Armed with the necessary district and market data, activities then include:

Business Assistance

• Community college programs
• Business adoption programs
• Create welcome kit
• Business expansion
• Develop incentive programs and identify sources of capital

Properties

• List of existing businesses
• List of available spaces
• Historic building inventory
• Convert unused space into productive property
• Apply for Main Street designation from downtown district to lakefront

Recruitment

• Create recruitment kit
• Potential new businesses
• Higher education in program area

Economic Analysis

• Annual business survey
• Annual business/job report
• Track property investment
• Update demographic information through economic analysis

Facade and Signage Grant Applications

Facade Grant Program:
$461,089.91

Private Projects/Building Rehabs:
$2,571,579.00

Property Value/Increased Tax Revenue
$362,688.30

Online Application Link to come