GREATER UNIVERSITY CIRCLE INITIATIVE. Writing the Next Chapter for Anchor-Based Redevelopment Initiatives

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1 GREATER UNIVERSITY CIRCLE INITIATIVE Writing the Next Chapter for Anchor-Based Redevelopment Initiatives

2 EVERGREEN COOPERATIVE INITIATIVE Create Jobs Generate Wealth for Residents Stabilize Neighborhoods BUILDING COMMUNITY WEALTH TO TRANSFORM CLEVELAND AND CHANGE LIVES

3 University Circle Traditional Boundary TRADITIONAL University Circle BOUNDARY

4 ANCHOR & CULTURAL INSTITUTION INVESTMENT Cleveland Clinic New Heart Center $450 Million New Alle Entrance $ 50 Million Two new parking Structures $150 Million Global Innovation / w Fairfax $ 60 Million University Hospitals New Cancer Center $400 Million New ER $250 Million New parking Structure $150 Million Veteran s Affairs Medical Center New Bed Tower $100 Million New Domiciliary $ 50 Million 2000 Car parking $100 Million 4. Cleveland Museum of Art Renovation / Expansion $250 Million

5 EAST 79 th STREET GREATER UNIVERSITY CIRCLE New Geography of Collaboration CITY LINE CITY LINE EASTERN HOUGH/ UPPER CHESTER WADE PARK/ HERITAGE LANE NPI SII Famicos VA Foundation Hospital EAST CLEVELAND TRADITIONAL University Circle BOUNDARY LITTLE ITALY Cleveland Clinic EASTERN FAIRFAX NPI SII Fairfax Renaissance Dev. Corp. BUCKEYE / SHAKER ST. LUKE S POINT NPI SII Buckeye Area Dev. Corp.

6 Neighborhood Challenges NEIGHBORHOOD CHALLENGES Neighborhood Challenges and Indicators

7 VACANT LAND

8 POOR & UNSOUND BUILDING CONDITIONS

9 WATER SHUT OFFS / TAX DELIQUENCIES / FORECLOSURES

10 NEIGHBORHOODS AT RISK

11 OUR STRATEGY 1. Focus anchor institution purchasing locally 2. Create new community-based businesses 3. GREEN 4. Link to expanding sectors of the economy (e.g., health, energy, food, waste & green technologies) 5. Ensure financing and management to move to scale

12 Launching in Evergreen Cooperative Laundry (ECL) 2. Ohio Cooperative Solar (OCS) 3. Green City Growers Cooperative (GCGC) Secondary Cooperatives 1. Evergreen Business Services (EBS) 2. GUC Neighborhood Voice Planning & Development 5. Three to Four (3-4) Next Generation Businesses

13 Business Update Launch October 2009 State of the art green facility Customers: Cleveland-area hospitals, nursing homes, hotels 50 new jobs created for worker-owners Million lbs. capacity Financing $750,000 of grant 2 market-rate bank loans ($750,000 each) $1.5 million of HUD108 long-term, lowinterest loan $200,000 of EDA funding for working capital $5 million New Markets Tax Credit allocation

14 Business Update installations = 3MW Will more than double all installed solar in State of Ohio Clients: Cleveland-area Anchor Institutions 15 Year Power Purchase Agreement Second line of business: year-round home weatherization; 100+ homes weatherized to date

15 Business Update Year-round hydroponic food production greenhouse 5 million heads of lettuce/year; 300,000 pounds of herbs 10 acre site; 5 acres under glass Broke ground Fall 2011 Green technologies/advanced energy: 1.5 MW Wind Turbine, Combined Heat and Power, Water Reclamation

16 COMMUNITY BUILDING TOOL & SECONDARY TYPE COOPERATIVE 1. Engage Students: both high school & college age 2. Empower the Overall GUC Initiative & Evergreen Cooperatives 3. Sustainable Business Model 4. Provide career opportunities for minorities in journalism

17 Business Model Sustainable Business Professional Management Local Hiring & Training Adequate Capitalization Anchor Purchasing Concept Design & Feasibility Business Plan Development

18 COOPERATIVE DEVELOPMENT FUND Funds Raised to Date $3 Million - Cleveland Foundation $1 Million - Kelvin and Eleanor Smith $900,000 - Minigowin $250,000 - Cleveland Clinic $250,000 - CWRU $250,000 - University Hospitals $50,000 - Higley Fund $5,700,000 Total $14,750,000 Living Cities Leveraged $30+ Million Additional

19 PRESS ATTENTION

20 INTEREST FROM OTHER CITIES Atlanta, GA Baltimore, MD Columbus & Youngstown OH Detroit & Kalamazoo, MI Newark, NJ Pittsburgh, PA Springfield, MA Washington, DC Dallas, TX

21 GOALS Create new jobs for neighborhood residents 500 > 5,000 Anchor capital so it doesn t get up and leave Promote asset accumulation ($65K/8 years) Stop $$ from leaking out of NE Ohio Stabilize and revitalize the neighborhoods (including long-term affordability) Develop a replicable model for national impact

22 Evergreen s Worker-Owners Because this is an employee-owned business, it s all up to us if we want the company to grow and succeed. This is not just an eighthour job this is our business. Keith Parkham I never thought I could become an owner of a major corporation. Maybe through Evergreen things that I always thought would be out of reach for me might become possible. Owning your own job is a beautiful thing. Medrick Addison

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24 Contact Information Jim Anderson Ohio Employee Ownership Center Kent State University