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Downtown Redevelopment Initiative

Downtown Redevelopment Initiative. North Central West Virginia. Downtown Redevelopment Initiative. Lots of vacant spaces, and limited resources available…. Downtown Redevelopment Working Group WV Rural Development Office Private foundation Brownsfields Assistance Center

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Downtown Redevelopment Initiative

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  1. Downtown Redevelopment Initiative North Central West Virginia

  2. Downtown Redevelopment Initiative Lots of vacant spaces, and limited resources available…

  3. Downtown Redevelopment Working Group • WV Rural Development Office • Private foundation • Brownsfields Assistance Center • West Virginia University • Other NGOs

  4. Loans & Mini-Grants to Private Building Owners • How to bring vacant space back into service? • Up to $5,000 in grant funding • Combined with a loan for building rehab • $1.24 M loaned and leveraged through CDFI to date

  5. Priority Projects in Seven Communities • Working with local Main Street/volunteer groups to ID priority projects; • Cobbling together pre-development funding to assess structures & design reuse options; • Putting together ownership & financing structures specific to each project.

  6. What partnership structure would best benefit both Woodlands and private investors? • What are the pros/cons of condo-izing abuilding? • How does a non-profit/for-profit partnership impact potential development subsidies that may be brought to bear? • How can Woodlands best capitalize a local demolition/land-banking fund? • How can a meaningful market study be conducted that will reflect local opportunities and economics?

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