State College Borough Redevelopment Authority Saturday, May 30, 2009 The Importance of Partnerships in Financing Community & Economic Development State College Borough Redevelopment Authority Saturday, May 30, 2009

What’s the Difference? How would you differentiate between community development And economic development? Are they different?

A Practical Difference Community Development : The implementation of activities that improve the overall environment and quality of life of an area and so improves the potential for successful economic development. Economic Development: The improvement of the financial conditions for an existing community of people.

The Foundation of Partnerships A Shared Vision of the Future If you don’t have a vision, someone else’s vision will have you!

The Struggle With Shared Visions

Whose Vision Is It, Anyway?

The Market Realities of Visions There Are Not an Unlimited Number of Options You Must Understand Current Market Realities & Conditions… College Towns County Seats Latte Towns Lifestyle Centers Techno-Centers

The Market Realities of Visions There Are Not an Unlimited Number of Options You Must Understand Current Market Realities & Conditions… College Towns County Seats Latte Towns Lifestyle Centers Techno-Centers

What Assets Do You Have to Build On? New Economy Assets Tourism Sites Colleges / Universities Health care Campuses 21st Century Industry County Seat EZs, KOZs, KIZs High Tech Business Centers Traditional Assets Mining / Extractive Agriculture Manufacturing Generic Assets Public Infrastructure Historic Architecture Local Organization

PDC’s Definition of A Vision Statement A defined (written) future condition for the business district or neighborhood, based on current market realities and assets, and the ability of the local organization to impact those realities, that defines either the planned economic or residential character of the target area.

Building Partnerships Through Visioning Visioning in Wilkes-Barre, PA

Building Partnerships Through Visioning Visioning in Johnstown

Partnership “Case Studies” Jersey Shore To Be A or Not To Be (A Trail Town)… That is the Question! Harrisburg’s Restaurant Row A market driven, asset-based example

Common Denominators of Success Projects or Programs That… Are Based on Community Assets Have a Broad Base of Support Manage Complexity Public-Private Partnerships Multiple Sources of Funding Are Demand (i.e. Market) Driven Understand the Time Demanded Evolve From Local Efforts All Require Partnerships