Riverworks Business Improvement District #25 and District #36 Strategic Plan Draft April 5, Mission Statement.
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1 1 Riverworks Business Improvement District #25 and District #36 Strategic Plan Draft April 5, 2012 Mission Statement The Riverworks Business Improvement District #25 and District #36 seek to improve, maintain and promote through thoughtful programs and services for the benefits of all property owners, tenants, consumers and residents. Vision Statement The is a vibrant, sustainable mixed-use business district with an expanding industrial core, thriving commercial corridors, and a unique environment suited for innovative redevelopment and businesses. Goals, Strategies and Objectives Goal 1 Strengthen and expand the s industrial/manufacturing core. Strategies: 1. Prepare and promote best available sites to potential businesses, targeting a number of specific sites for industrial uses. 2. Aggressively market the unique strengths and assets of the. a. Identify industry trends that make an attractive option 3. Leverage TIF and other financial mechanisms to spur business development and expansion. Objectives for Goal 1 Responsible Party Collaborators/ Partners Time Frame Resource Requirements 1 Sample Success Indicators/Measures 1. Work with the City and other stakeholders to establish a Riverworks DCD (M7), Milwaukee County, UWM, Year 1 3 Staff time established in partnership with city 1 Resource Requirements Key: 1 = cost can be covered with existing budget 2 = new dollars required high probability additional funding can be secured by BIDs 3 = new dollars required medium probability additional funding can be secured by BIDs 4 = cost can be shared with current or future partner 5 = cost can be covered by current or future partner
2 2 Center that will develop comprehensive plans that address retention, expansion and recruitment of industrial/manufacturing businesses. (Note: it is anticipated that this would be involved in implementation of Objectives 2-7) 2. Continue to develop, in partnership with the City of Milwaukee and other stakeholders, an industrial land bank specifically including 701 E. Vienna, 634 E. Keefe, and 3456 N. Buffum. Land bank development activities to include: Removal of older buildings and make parcels ready and competitive (shovel ready) Remediation of contaminated sites (brown field cleanup, etc) 3. Develop an inventory of assets including available sites and buildings, competitive advantages of the area, expertise of RDC and the MATC, MSOE and other institutions of higher learning RACM, WISPARK or other developer, City of Milwaukee DCD, UWM, Data Center and other stakeholders Comprehensive plans developed and implemented according to schedule Objective incorporated Years 2 and 3 4,5 Number of parcels made shovel ready Number of brownfield sites remediated Objective incorporate it Year 1 1 Inventory completed and annually updated
3 3 BIDs, access to other resources of partners such as UWM, DCD, and DPW) 4. Partner with institutions that provide industrial skills training to match needs identified by area industrial firms. 5. Partner with industrial real estate brokers to sell or lease vacant industrial properties. 6. Increase involvement in industrial/manufacturing trade associations in marketing and promoting the. Industrial council members; staff 4,5 Number of training programs delivered with partners Number of training participants completing programs 1 Number of vacant industrial properties sold or leased with partners 1 Number of industrial/ manufacturing trade associations BID board/staff and industrial council members are involved in
4 4 Goal 2 Continue to develop the as a vibrant, sustainable mixed use business district. Strategies: 1. Maximize development of promising high value commercial corridors. 2. Pursue new development opportunities that establish the a preferred destination for innovative businesses. 3. Promote the retention and growth of existing businesses. Objectives for Goal 2 Responsible Party Collaborators/ Partners Time Frame Resource Requirements Sample Success Indicators/Measures Objectives for Strategy 1 1. Target specific sites for redevelopment (for example, 532 E. Capital and Humboldt and Capital area, 208 E. Capital) 2. Redevelop the Holton Concordia intersection as a shopping/commercial destination. Objectives for Strategy 2 3. Establish a BID New Business Development Task Force responsible for exploring promising new business clusters for development in the. Yet to be established BID New Business Development Task Force Horizon, RDC, and other partners to be identified UWM, DCD, The Milwaukee Institute 4,5 Target sites prepared for redevelopment Number of redevelopment projects completed at target sites 5 Increased shopping/ commercial development in target area Years 2 and 3 3 New Business Development Task Force established. Recommendations for promising new business clusters developed and submitted
5 5 Objectives for Strategy 3 4. Launch coordinated promotional efforts to increase retail sales, draw new people into the area, and increase brand awareness of the Riverworks shopping district. 5. Work with District 5 to develop creative area-wide policing strategies. 6. Identify areas needing infrastructure improvements and take action to secure necessary commitments. 7. Increase utilization of available financial mechanisms by Riverworks Center businesses. Other Objectives for Goal 2 8. Establish a Riverworks Center Business Park Plan. 2 BID Promotions and Marketing Committee DND BID Boards Yet to be established BID Design Committee BID Boards Yet to be DCD, DNS, DPW, UWM Students 3 Number of coordinated promotional efforts designed and launched 1 Number of new/improved area wide policing strategies implemented 1,5 Number of infrastructure improvements completed in identified locations 4,5 Number of Riverworks Center businesses utilizing financial mechanisms. Dollar amount of financial mechanisms utilized Objective incorporated Year 2 3,5 Business Park Plan developed. Number of planning components completed
6 6 established BID Design (see footnote) Objective incorporated 1 The Business Park Plan will include the following components: Creation and enforcement of standards for exterior appearance of real estate; Expansion, maintenance and enhancement of the Beerline Recreational Trail; Development of an initiative to utilize art as a means of promoting economic development; Promotion of uniformity of landscaping programs in the area; Enhance the east and west gateways onto Capital Drive; and, Continue urban design efforts to make the area more pedestrian friendly including development of outlots to intensify retail on Capitol Drive Goal 3 Increase communication, networking and partnerships between and among businesses, BID #25, BID #36, RDC, and key external stakeholders. Strategies: 1. Strengthen relationships between the BIDs and other governmental and community sectors (residents, City of Milwaukee other municipalities, etc.) 2. Continue to communicate the value and accomplishments of the BIDs to key stakeholders 3. Connect neighborhood residents to employment opportunities in the area. 4. Assist BID members in pursuing business opportunities with other businesses in the Riverworks Area and throughout the region. Objectives for goal 3 1. Host an ongoing series of networking events to promote interaction and relationship building among area businesses, residents, and other community/civic leaders. 2. Implement a comprehensive web/social media strategy to link area businesses with each other, the BIDs and RDC. (Note: Responsible Party BID Boards Collaborators/ Partners RDC, Corporate sponsorships to be identified Time Frame Resource Requirements Sample Success Indicators/Measures 1,3 Number of networking events conducted Number of attendees DND and OM Doubleberry Year 1 1,3,4 Comprehensive web/social media strategy implemented. Number of area businesses utilizing
7 7 this objective is part of the overall Riverworks Marketing and Promotion Plan) 3. Develop and implement a coordinated Riverworks Center marketing and promotion plan to support Goals 1, 2 and Develop information systems that help RDC and BIDs track priority business needs and match them with services and resources. BID Boards, DND OM and ED social media tools to link with each other Other industry metrics, i.e, Google Analytics 3 Coordinated Riverworks Center marketing and promotion plan implemented. Marketing objectives achieved. Other industry metrics, i.e., number of positive media mentions 3 Number of businesses linked with needed services and resources as a result of information systems put in place by RDC/BID's Number of BID member surveys completed.
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