  ECONOMIC DEVELOPMENT BRIEFING D EPARTMENT OF E CONOMIC D EVELOPMENT FY14 Budget Briefing Account 5411

  ECONOMIC DEVELOPMENT BRIEFINGCITIZENS Board of Aldermen MAYOR Director of Economic Development Manager* Economic Development Manager Municipal Airport Manager Downtown Parking Manager Weinberg Center Oh say can you say… Frederick

  ECONOMIC DEVELOPMENT BRIEFING KEY PRIORITIES 1.Job Creation Retention, Expansion, Attraction, Incubation 2.Revitalization Downtown, Golden Mile, East Frederick Rising Fill vacancies, Historic Renovation, Infill Development, Adaptive Reuse, Upper Floor Conversion, Lighting 3.Investment Water, Sewer, Roads, Communications Carroll Creek Park Downtown Hotel and Meeting Space T o sustain and grow economic opportunity in Frederick through job creation, revitalization, and investment

  ECONOMIC DEVELOPMENT BRIEFING Infill Annexation & Greenfield Revitalization, Renovation, & Adaptive Reuse  288 vacant commercially zoned parcels  1,169 acres  Downtown  Golden Mile  East Frederick  North Market – Nexus Energy Homes  1,348 Acres  Pipeline of Planned Housing and Employment Sustainable Pipeline Approach

  ECONOMIC DEVELOPMENT BRIEFING  Positive Population Growth  Increased Housing Values  Positive Bond Ratings  Positive Business Growth (pent up demand)  Biotechnology  Advanced Technology  Health Care  Federal Sequestration & Budget Cuts  Effects on Frederick Municipal Airport  Effects on Fort Detrick, NCI-F, & Federal Contractors  Frederick is gaining regional/national attention  CNN calls Frederick a great American come-back town !  Frederick represented on Washington Council of Governments Trends

  ECONOMIC DEVELOPMENT BRIEFING FY13 HIGHLIGHTS FY14 INITIATIVES  Carroll Creek Park Design/Bid  Carroll Creek Park Construction  Downtown Hotel Project Site/Financial Analysis, Stakeholder Meetings  Downtown Hotel Project Site/Developer Selection and entitlement process  Vacant & Blighted Property Task Force Recommendations  Vacant & Blighted Property Legislation / Implementation  Golden Mile Alliance organizational efforts, initial activities, review of Small Area Plan  Golden Mile Alliance Action – promotions, fund raising, development advocacy  Reauthorization of Economic Development Incentives Legislation  Focus on Frederick Towne Mall redevelopment and other key vacancies  FITCI and Fort Detrick Alliance reorganize leadership teams  Stabilize FITCI and focus on new economic model for future Highlights and Initiatives

  ECONOMIC DEVELOPMENT BRIEFING Program Area$% Business Retention & Expansion 300,00047% Business Attraction 181,40929% Leveraged ED Investment/Match 155,00024% Total$636,409$100% FY14 Budget Breakdown DED MANAGES GRANTS INCLUDING:  $3.0 Million TEP Grant Carroll Creek Park  $100,000 Community Legacy Grant Carroll Creek Park  $31,000 Community Legacy Grant – East Patrick Street Lighting  $69,000 Community Legacy Grant – Downtown Façade Program  $50,000 Community Legacy Grant Downtown Façade Program  $35,000 + Annual BRAC Zone Payments to City of Frederick ED Match Organization$ Downtown Partnership30,000 FITCI30,000 Tourism Council15,000 Golden Mile Alliance5,000 East Frederick Rising5,000 Business Incentive Match70,000 Total$155,000 $9.50 per capita investment in Economic Development

  ECONOMIC DEVELOPMENT BRIEFING Make Some History With Us Richard Griffin, AICP, CEcD – Director Department of Economic Development The City of Frederick