Recently, I had the opportunity to to travel to Atlanta, Georgia to attend the Council of Development Finance Agencies (CDFA) National Summit due to a generous scholarship from CDFA.! If you have not been to a CDFA event, I highly encourage it. Presentations I attended included: affordable housing in Greenville, SC and August GA; the redevelopment of the Baltimore Harbor (currently the largest private development); revitalization efforts in North Miami Beach; and adaptive reuse of a warehouse building in Peoria, IL.
As a downtown professional, working to assist vibrant commercial districts, I find that there is so much more to learn about development finance . Below are 3 takeaways I came up with for Colorado downtown districts:
For me, the best way to learn is a combination of reading, hearing presentations (case studies are best) and talking to the professionals involved. The CDFA Practitioners Guide to Economic Development Finance offers a great introduction. DCI is a great resource to hear presentations especially for Colorado professional (In the Game Event, April 2018), meet other professionals (DCI Upcoming Events) and read (Join DCI for members only resources on URAs & TIF, DDAs, Historic Tax Credits, and much more).
What is development finance? It’s all the financing tools besides traditional bank loans that make projects happen. It is essential to public oriented projects, and becoming increasingly necessary to make anything happen. Some examples:
Development Finance requires creativity- the market alone no longer makes publicly oriented projects happen. I saw this repeatedly in examples at the CDFA Summit:
Next Steps: Stay informed and learn about development finance by Joining DCI, register for In the Game Event, to meet colleagues throughout Colorado, and always check DCI Upcoming Events!
In honor of Small Business Saturday, we wanted to highlight all of the things DCI has been up to the past few months to support small business in all of our communities. We have been busy putting on business institutes all around the state including Grand Junction, Castle Rock, Hot Sulphur Springs, Craig, Monte Vista, Buena Vista, and one more event upcoming in Walsenburg. These institutes have focused on small business thriving in the Amazon world and how these business can use placemaking, creativity, and savvy marketing techniques to bring in new customers and keep the returning customers loyal. If you would like a business training like this in your community, consider writing us a letter of support from your business for our next grant application.
We have also been working with Local First Colorado to bring awareness to the shop small mentality that is so important to keep our downtowns vibrant. As I am sure you have heard, DCI partnered with Local First Colorado (LFC) back in October. Local First Colorado is a new organization that is dedicated to bringing awareness to the “Shop Local” movement and encourage Coloradans to support local business first. DCI and LFC determined this partnership advanced the missions of both organizations as each aims to strengthen Colorado’s local economies. LFC is introducing a new event called “Try Local First Week”. Kicking off on Small Business Saturday, Try Local First Week is one week dedicated to asking local consumers to re-think daily habits and shift everyday actions to try a local business before heading to the big-box stores or ordering online.
Last week, DCI and LFC toured three local business in Downtown Loveland to highlight Small Business Saturday and Try Local First Week. Check out the article that was written about the event. All week, Local First has been highlighting events and businesses all over the state to let people know why shopping local first matters and where they can go to do it. Go to their Facebook and Instagram pages to see all of the resources there.
DCI’s commitment to small business continues through to our conference in April, where business can submit challenge studios. This is an opportunity to for businesses to submit a challenge that may not only effect them but also the surrounding businesses and the community at-large. These Workshops are based on a challenge facing a participant or a participant’s community that are designed to transform a community’s difficult challenges and problems into promising opportunities. Participants will work side-by-side with leading industry experts and local peer networks to craft problem-solving plans. The solutions can be transformative for a small business and the community they live and work in.
If you believe in the work DCI is doing, please consider donating to our cause on Colorado Gives Day on December 5th.
By Eileen O'Brien, Outreach and Membership Specialist, DCI
Maria Cocchiarelli Berger has been an artist her whole life, a public artist actually, working on murals, garden reclamations and anything that speaks to the environment, inequity and racism in our culture. She has a BA in Art History and a BFA in painting, but her “life” degree should be in perseverance.
With the idea that she would go for her MFA in New York, so she could teach art on a college level, she decided in the summer of 2001 to apply for an art program that was housed in the World Trade Towers. Sadly, all her slides and application went up in smoke on September 11. But she pushed on and got her MFA at Queens College, City of NY University, where she reconnected with a longtime friend and colleague, Brendt Berger. It was destiny as they grew closer and discussed how they each had amassed a personal art collection throughout the years from their artist friends and associates. Maria and Brendt married in 2006, and the idea of creating a permanent home for their life-long art collections was just a “twinkle in their eyes.” That twinkle became a reality when they started renovating a building in downtown Walsenburg, the Roof and Dick. The building would open in October 2007 as the Museum of Friends. The museum is now listed in The Art in America Guide to Museums, Galleries and Artists, as the only counterculture museum in the U.S. and the Roof and Dick building was put on the Historic Register for Colorado in 2016!
The art was all part of their personal collections and grows each and every day with another generous gift. The collection includes the works of over 250 artists including Richard Mock, Robert Rauschenberg, Yoko Ono, Peter Max and Dean Flemming, to name a few. It was Brendt’s relationship with Dean Flemming that led to his discovery of Walsenburg and the building that would eventually become the Museum of Friends. Brendt and Dean would visit Drop City on their trips to California. Eventually, Dean would create his own art community in Libre, where he lives even today and Brendt bought a place in Gardner. He and Maria eventually moved closer to the town.
And so Walsenburg became their home and their love of art coincides with the Bergers’ interest in developing the downtown area of Walsenburg and raising the visibility and awareness of contemporary art in Walsenburg and the region. Indeed, Maria says that “Walsenburg and the area around it, is a burgeoning artists community.” Maria and Brendt quickly realized that being an advocate for the museum would also involve being an advocate for Downtown Walsenburg. And, this is where DCI comes into our story!
Being a DCI Member - Maria has been a member of DCI for three years now. She learned about DCI in 2012, when DCI did a Downtown Assessment and Plan for the City of Walsenburg. Since then, they have implemented many pieces of that plan and earlier this year DCI had a URA Training event there. And at the 2017 DCI Annual Conference in Breckinridge, the city was accepted as one of the conference’s Challenge Studio’s. Maria was a participant in the challenge about sustainable financing for cultural amenities. (Read the full report on this Challenge Studio here!) Maria said “Being on a Challenge Studios with our peers really gave us clout! It helped us talk about who to collaborate with in the community and how to discover mutual ideas in order to find support for all the cultural amenities in the downtown area.”
(If you want to nominate YOUR community to be a Challenge Studio Topic for our next conference, CLICK HERE for more information.)
DCI IN WALSENBURG IN DECEMBER!
Join DCI as we help celebrate and support Museum of Friends GALA to raise funds to support their $199,000 award from History Colorado! In order to get the award, they have to raise another $66,000 in matching funds! We will be in Walsenburg all day and night December 2nd! From 4:30 PM – 6 PM, DCI will be having a Downtown Institute for Business: Small Business Thriving in an Amazon World.
Then, come with us to the “Save the Roof and Dick” GALA Benefit on Saturday, December 2, from 7 to 10 pm with Go Ask Alys Catering, live music and a huge art sale of local and national artists. For tickets visit the link event title above and for more information about the museum, call 719-738-2858 or write to Maria at email@example.com
Recently DCI partnered with CNU to bring Atlanta architect Eric Kronberg from KronbergWall Architects to speak about why certain historic structures don’t get revitalized. It all comes down to CODE. Oftentimes these projects get underway, and one little requirement such as parking, sprinklers, or ramps could bring the whole project down. These little requirements turn out to be not so little anymore.
Downtowns and the historic buildings in them are important “because they already exist, they are economic engines, they allow for incremental development”. They create the place and the value (actual land value, property values, intrinsic values). Historic downtowns value people more than cars and communities more than corporations. We all know that these historic buildings were built long before code regulations making revitalization for modern uses very difficult. Here are some of the biggest (expensive) issues developers run into:
Know your codes. If you would like to read more about ADA Requirements head to Eric Kronberg’s blog.
By Brad Segal, published in the Denver Business Journal, Sept 22, 2017
In pursuing Amazon’s HQ2, the holy grail of economic development, Denver finds itself in a most unlikely position – a favorite. The irony is most appreciated by those of us that have been involved in the evolution of this city since the 1980s. Then an economic basket case, metro Denver has since invested billions in civic improvement projects and successfully diversified our economy to become a globally relevant city. Today, the key to attracting Amazon is to continue our pattern of investing in ourselves, and avoid the temptation to shower incentives on a firm that doesn’t need them.
Here are four key points leading to Denver’s winning strategy to lure Amazon’s second headquarters and it’s 50,000 jobs:
1. Acknowledge we’re already in the top tier of logical cities. A recent New York Times analysis provided an initial screen of more than 50 eligible metros throughout the nation, and found Denver to be the Number One choice. Our fundamentals match nicely with Amazon’s needs, including quality of life, tech-savvy educated workforce, mobility options and a welcoming culture. Given our fundamentals, we can compete from a position of strength and focus more on an innovative pitch.
2. Avoid the temptation to lard incentives. Other regions that don’t share our fundamentals and particularly those with a tradition of spending lucrative incentives to attract companies (i.e. Texas, Southeast), will throw the kitchen sink at this “deal of the century”. Expect eye-popping pitches in the billions of dollars as states and regions rob their futures to subsidize Amazon. Colorado doesn’t need to do this, and our state has a track record of providing more measured incentives when compared to peers. However, we’re not beyond the occasional ridiculous subsidy (i.e. remember the $380 million gift Aurora crafted for the notorious Gaylord project now rising out of the plains near DIA?). Not only is a huge subsidy unnecessary (remember we have fundamentals), but this could actually work against us. Why, Amazon may wonder, do these communities mortgage their futures to subsidize our present?
3. Offer a standard array of property development carrots. It would be fair game to utilize Colorado’s property development incentive tool kit, particularly if Amazon chose a site for its campus that is truly blighted or requires substantial infrastructure. Tax increment financing and special districts are effective here, and offer a competitive advantage over other states. We should be mindful to not give away the store and negotiate revenue-sharing agreements so that Amazon doesn’t completely syphon future revenues from schools and other essential public services.
4. Invest in ourselves. Instead throwing needless incentives at Amazon, metro Denver should use this opportunity to invest in the infrastructure that supports our continued economic vitality. Let’s go big on affordable housing, education and transportation – the civic infrastructure that is required to absorb Amazon’s giant scale, and to ensure that everyone in our community will benefit.
The groundwork has already laid to create a “surge” in civic investment. Denver is creating a new housing plan, and affordable housing advocates are urging the city to support a housing bond that could create $150 to $300 million. This scale of investment could help stabilize existing neighborhoods in advance of Amazon’s arrival, and help preserve a diversity of housing types to support our growing jobs base.
On transportation, if the state can’t agree on a boost in funding for roads, transit and other mobility options, then the metro region should pursue it alone.
More resources for education may be more challenging and would require us all to step up on both a local and state level. Our focus should be on the full continuum of education options, from pre-school to graduate education. Let’s use the Amazon challenge to break Colorado’s grip on having one of the lowest per-pupil funding legacies in the nation.
By investing in ourselves and building upon a 30-year pattern of civic investment, we’ll demonstrate to Amazon that we’re not only preparing for the long-term economic vitality of our region, but also protecting the culture and values that are attracting them here in the first place. In addition, the upside of this strategy is we’re better off with or without Amazon. We will have invested in strengthening an opportunity infrastructure that will keep our economy robust for generations to come.
Recently, I attended a webinar from the University of Illinois Extension which presented some strategies for attracting and retaining millennial-aged folks to rural communities. Whether in Illinois or Colorado, it is clear that populations in rural areas are aging and the presence of millennials is essential to carry on the legacy of these communities. Almost a quarter of millennials surveyed said they want to live in small towns however there are some essential factors that influence many millennials when deciding to move to a small community and these strategies address some of those factors.
(1) High Speed Internet: Millennials value the ability to communicate far and wide. Whether they are running an online business or attending online classes.
(2) Invest in Youth Priorities: Ask them what they want. These desires might include “third spaces”; spaces outside of work and home i.e. breweries, cafes, board game bars. Millennials value social interaction in news ways outside of the quintessential ‘rural’ bar.
(3) Provide Economic Opportunities Through Entrepreneurship: Millennials actually value living in communities that support their local businesses. The kinds of opportunities communities have to show this collaborative spirit are: public markets, shared work spaces, Buy Local Campaigns, marketing assistance, business competitions, etc.
(4) Actively Engage and Consult Youth: Make sure they know their ideas and opinions matter. This can be done through surveys and focus groups. Here is a survey template from the UI Extension as an example.
(5) Density: Millennials prize a traditional town center, a walkable neighborhood, and even living in the downtown area in lofts above businesses. Believe it or not, millennials want to engage with local businesses and be in a lively environment full of life that downtown main street and dense communities provide.
If you would like to learn more about attracting customers to your businesses, including millennials, check out our Business Bootcamp in Castle Rock on October 23rd
DCI recently attended an event at Denver Startup Week about “Impact Investing Through a Creativity Lens”. The panelists included Laura Callanan, Upstart Co-Lab // Corey Vernon, Radicle Impact // Alice Loy, Creative Startups // Anne Misak, Colorado Enterprise Fund.
What is Impact Investing? What does viewing it through a lens mean?
Impact Investing is a form of investing that means making money while doing good. It does not mean a grant or charity. It is a real investment made into companies, organizations, and funds with the intention to generate social and environmental impact alongside a financial return.
Lenses are used to shape how we view something and, in this case, where we choose to invest our money. Impact Investing through a Creativity Lens is investing in creative ideas whether it is art that has a social impact (ex: Meow Wolf), food that redefines the food system (ex: MMLocal), or fashion that takes ethics seriously (ex: Zady). Whatever the idea is, impact investing is a great way for creative ideas to take off.
Creativity is essential to solve complex problems and brings new and diverse ideas to the solution. This ‘cognitive diversity’ means that everyone that has different ways of thinking about issues and the different approaches come to together to create a solution that a homogenous group could have never come up with.
If you would like to learn more about what the panelists are doing, click their websites linked above. If you would like to learn more about how your business can creatively enhance your customers’ experience come to our event in Castle Rock on October 23rd.
DCI is gearing up this month for events in October, November, and of course our Vibrant Downtowns conference in April 2018!
We recently had our first conference planning meeting in Boulder. We are really excited to be working with Boulder’s Downtown Business Improvement District (BID) among other economic development and business partners. The energy was dynamic going into the first planning meeting with many inspiring ideas coming from all around the room. There is so much going on in Boulder to highlight making this conference so exciting to plan.
Our team also got to visit the space where the conference will be held, the Rembrandt Room. With floor-to-ceiling windows and a calming atmosphere, we hope the room will foster inspiration. The space has such great potential for collaboration especially for the challenge studio afternoons. Groups will have plenty of space to spread out and have great discussions about these challenges. If your community has a challenge, submit it now.
We hope this conference will foster an environment where different size communities can learn from each other and build a foundation for success!
Visit the conference page to learn more! Also, visit our events page to see what is coming up in the couple of months!
There is something to be said about the small town charm in Grand Junction and small towns like it across Colorado. The small businesses are often unique to each place, nevertheless, these businesses struggle to compete in an ever-growing global marketplace. With economies of scale and every commodity available, it can often be impossible to compete for small business.
This dilemma is what DCI, our volunteer consultants, and the Grand Junction BID tried to address in our Downtown Institute on August 27th. The first presentation from Brian Corrigan of Oh Heck Yeah described design interventions that attendees could implement immediately in their stores. He emphasize the importance of refining a store’s “story” or “the why” to attract people. People want to connect with a place in a way they cannot online, as a consequence, brick and mortar stores have an advantage of connecting with people- old style in reimagined ways. The goal of this presentation was to help the businesses create an environment for creativity in their stores.
Brian then spoke about the reasons for optimism in the face of the Amazon age. These reasons come from an article from a Forbes article stating that Millenials and Generation Z prefer real stores and that many people have an interest in experiences (i.e. being downtown). The emphasis is about providing more of an experience than simply providing goods. This includes partnering with local creatives and being flexible. Examples of flexibility could include an eye-glass retailer can also sell books and coffee or an auto-parts store could sell water.
The participants were also given the opportunity to learn about local resources, online outreach, and succession strategies for their business through three idea stations. The stations were facilitated by Elaine Brett, organizational development consultant, Rachel Trigano, Communications Consultant, and Rachel Hanson, Mesa County libraries.
The library is an especially important institution in many communities particularly in an online world. The library has physical space and resources for the community to take advantage of such as: meeting rooms, A/V equipment, and access to high quality business resources. Online outreach is also important for businesses to communicate with their customers and increase traction and loyalty. Participants also thought about the future of their business including if they would sell it once they retired or if they would consider selling it to their employees as part of an employee owned co-op.
Western Slope Now in Grand Junction did a story on the event! Check out the video and article.
If you are a small business interested about learning more about these topics and creating a better experience for your customers, please join us in Castle Rock on October 23 for a business bootcamp. Click here for more information!
Small business owners and employees are often pulled in numerous directions. In today’s digital environment, there are a lot of options for online marketing and branding and each platform comes with its own image and target audience. Many small business owners may not even have a website or Facebook page. But businesses must consider the best return on the investment of money and time for advertising and marketing. Most importantly, whichever platform they choose, they must maintain quality and current content.
On June 19th, 2017 consultants from DCI collaborated with the Brush Chamber of Commerce to facilitate a discussion about attracting outside audiences to stores in Brush! through various marketing platforms. We have found many of our members around the state desiring information on this topic.
Here are some of common concerns and the key takeaways from Brush!: