Wolf Branch Innovation District Project Update December 14, 2017
Agenda I. Overview of Project Scope & Tasks II. Project Schedule III. Update on Activities by Task IV. Early Stage Thinking V. Next Steps VI. Discussion
I. Overview of Project Scope & Tasks Develop strategies to bring the WBID to life inside the City Assist the City in executing those strategies 12 Tasks over 3 years
I. Overview of Project Scope & Tasks Existing High Level Strategy RERC (2013) & RPG (2014)
II. Project Schedule
FY 2018 FY 2019 FY 2020 Task Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Meetings Final Strategy Report Provide Implementation Plan Identification of Economic Drivers Assist in Implementation of final Report by Renaissance Planning Group (RPG) Engage Multi-Disciplinary RE Firm Preliminary Mapping of Target Areas Preliminary Analysis of Target Areas for Business Development Revenue Estimates for Target Areas Refine/Develop Overall Annexation Strategy Final Annexation Target Area Map and Cost/Revenue Analysis Facilitate Introductions to Developers/Investors
III. Update on Activities by Task Task: Final Strategy Report Stakeholder Meetings Land Owners/Consultants Land Brokers Lake Sumter State College Lake County Staff City Staff Building Foundation for Implementation
III. Update on Activities by Task Task: Identification of Economic Drivers Completion of Duke Site Readiness Project McCallum Sweeney Target Industry Recommendations: Clean Energy Emerging Technologies Life Sciences
III. Update on Activities by Task Task: Assist in Implementation of final report by Renaissance Planning Group
III. Update on Activities by Task Task: Assist in Implementation of final Report by Renaissance Planning Group While potential uses will almost certainly include some commercial office, healthcare, educational, and other uses, we believe the emphasis will be on varying intensities of industrial and distribution type of facilities capable of supporting distribution, manufacturing, and technology activities. These activities will be complemented by office and retail uses. The latter could serve site specific employment populations as well as nearby resident populations. Real Estate Research Consultants, 2013
III. Update on Activities by Task Task: Assist in Implementation of final Reports by Renaissance Planning Group Summer Lake-Grace Groves PUD Filed in 2015 Adopted 2016
III. Update on Activities by Task Task: Assist in Implementation of final Reports by Renaissance Planning Group Summer Lake-Grace Groves PUD Program
III. Update on Activities by Task Task: Facilitate Introductions to Developers/Investors Initiated first company recruitment visit Meeting with LSSC to understand needs and timing Dependent upon demand Earliest timing is ~2022
IV. Early Stage Thinking 2013 What has changed in the past 5 years? Home automation remote control of security, climate, energy consum Streaming Video - Netflix Drones Autonomous Vehicles 3D Printing China is printing entire office buildings Replacement body parts Mail order DNA Ancestry Mapping Implications for real estate
V. Early Stage Thinking WBID Challenges: 1. Large scale 2. Multiple Owners 3. Master Infrastructure 4. Competition 5. Ever Changing Market Place
V. Early Stage Thinking Drivers of the Innovation Economy Scientists and engineers are the drivers of the innovation economy Scientists and engineers tend to co-locate in areas with relatively large populations of scientists and engineers and around highly rated universities Access to common pools of labor or talent rather than access to suppliers and customers is what drives the tendency of firms, including high-technology firms to cluster together in regional complexes High Technology and R & D firms are disproportionally attracted by amenities and quality-of-place
V. Early Stage Thinking Challenges Wolf Branch Innovation District Approach 1. Large scale Participate in Regional Recruitments 2. Multiple Owners Establish Governance Structure 3. Master Infrastructure Identify Financing Options 4. Competition Roll Up Your Sleeves 5. Ever Changing Market Place Market as Emerging Area of Regional Tech Economy WBID is a long term project that will evolve over time Landing large employers in an unproven market is high risk/high reward Difficult to accelerate markets move at their own pace
V. Early Stage Thinking However What does innovation mean in Mount Dora? Mount Dora is already positioned in arts and culture an amenity rich place That foundation can serve to build technological innovation and employment
V. Early Stage Thinking While WBID is Big, also starting small can work Starting small is appropriate for the following reasons: Most ED success stories come from home grown businesses Building a reputation for technology/innovation in the market place takes time MD has unprecedented attributes in existing city to build new expanded reputation Small steps are manageable and affordable, and not disruptive to character of the City Pursue at the same time as WBID approach
V. Early Stage Thinking Small Ball
VI. NEXT STEPS Continue ongoing dialogue with Stakeholders Revisit land use assumptions from 2013 Coordination of annexation, entitlements and development agreements Advance dual strategy work big and small simultaneously Actively recruit small technology firms while creating the conditions in WBID for larger regional success
VII. Discussion