Leland Consulting Group

1. Leland Consulting Group Presentation to: Town of Avon, Colorado Town Council 9 November 2008 2:00 p.m.

2. Work Session Purpose Provide the Town of Avon with a strategic approach to advance key community revitalization and investment goals … work with the Town leadership to articulate “community benefit” objectives within different geographies of the community including East Avon … work with you to understand the range of tools and resources that are currently available, as well as those that are missing and might have a local application … develop / refine processes, forms and materials. 2

3. Work Session Dates • Tuesday, September 9th – first work session • Tuesday, October 7th – second work session – • Planning and Zoning Commission • Town Council • Tuesday, December 9th –presentation • Town Council 3

4. Work Session Major Objectives • Confirm Session Objectives • Understand Desired Outcomes (Leadership) • Discuss Past Public Participation in Projects • Consider Range of Community Revitalization Tools and Potential Application • Confirm Desired Investments (as identified in existing plan and strategy documents) • Discuss Public-Private Partnership Criteria • Prepare Incentive Policy and Process Forms 4

5. Synthesis of Questionnaire Responses • List all existing public-private partnerships in which the Town was or is involved. • “Every effort to stimulate positive growth and benefits for both partners.” 7

6. Synthesis of Questionnaire Responses • What made it (them) a public-private partnership? • Town allowed zoning beyond what was entitled • Efforts to stimulate positive growth and benefit for both partners • Application review and consideration (provides opportunity for partnership) 9

7. Synthesis of Questionnaire Responses • What made these successful or unsuccessful transactions? • Lack of clarity around process and expectations • Proposals that didn’t “better the community” • Project “costs” that outweighed public benefits • Unsupported or unstated performance clauses Note: When the reverse of these was true, the partnerships were successful. 10

8. Synthesis of Questionnaire Responses • What could have made these efforts more successful? • Developer tied to Town’s success (high ethics) • More specificity for all parties • Avoiding long-term open-ended agreements • Consistency in vision and desired outcomes among public entities 11

9. Synthesis of Questionnaire Responses • What do these work sessions need to provide (knowledge, direction, decision) for the Town? The Town leadership? • Identification of efforts to increase odds of successful partnerships • Improvements to project reviews, negotiations, etc. (if any) • Specificity around processes and project expectations • Methodology (criteria) for evaluating project applications 13

10. Incentive Policy • Formal policy and guidelines for qualifying projects • Defensible process for granting incentives (participating) • Greater efficiency for staff • Tool to advance community goals … based on the belief that positive economic growth and stabilization will result from the provision of incentives packaged to attract new investment and reinvestment … 24

11. Leadership Input on Draft Policy • Consistently reference the necessity for “public benefit” in any public participation effort • Add reference to incentive policy in any model development agreement • Ensure ability to offer incentives relative to Town Charter • Define application and approval process (diagram) • Prepare application forms • Clarify role of Boards and Commissions in request and approval process 13

12. Legal Input on Draft Policy • Consider formal adoption of policy can establish additional legal rationale for taking action • Consider adoption as stand alone policy, addition to comp plan, or amendment to municipal code • Incorporate specific citations and references to relevant policy and regulating documents • Reorder sections of policy to follow a request process • Revise purpose statement • Clarify and add to definitions • Group incentives by financial and non-financial • Consider language around land transaction incentive given charter and urban renewal authority • Consider including request forms as appendix to policy • Incorporate criteria that includes how application will be considered 13

13. Incentive Policy (cont’d) Components … • General Purpose and Objectives • Guiding Principles • Terms of Town Participation • Catalyst Investment Areas • Catalyst Project Criteria • Catalyst Investment Defined • Benchmarking the Market • Incentives • Definitions • Overlay Map (illustration of incentives by geography) • Description of Process • Supporting Forms 26

14. Incentive Policy (cont’d) General Purpose and Objectives • Town will, under specific criteria, on a case-by-case basis, consider the granting of incentives • Objective to attract new, or improve existing commercial and / or non-commercial assets • Provide greater assistance in areas where market lags • Raise standards of development • Improve entire portfolio of community assets 26

15. Incentive Policy (cont’d) Guiding Principles • Promote development that conforms to the community’s vision as expressed in adopted plans • Provide preference for projects in targeted areas that provide public benefit (expand residential base, connect, sustainable, promote diversity, support transit • Provide positive financial effects • Provide short-term assistance • Capitalize on near or mid-term opportunities • Provide assistance for minimum possible length of time 26

16. Incentive Policy (cont’d) Town Participation • Number and type of public benefit elements • Potential of the project to succeed • Advancement of the policy’s guiding principles • Demonstrable need • Evidence that the project accomplishes the goals of the community as specified in Council-approved community plans 26

17. Catalyst Investment Areas 25

18. Incentive Policy (cont’d) Catalyst Project Criteria • Provides a public benefit • Consistent with goals of plans and policy documents • Connects to key activity areas • Responds to market opportunities • Improves jobs-to-housing balance • Strengthens the broader public realm • Reinforces key entryways or “gateways” • Communicated community identity • Encourages fiscal prudence • Leverages public investment • Addresses demonstrated community needs • Builds upon prevailing strengths of community beyond that which could be achieved without Town incentives 26

19. Incentive Policy (cont’d) Catalyst Investment Defined “A catalyst investment area is an ‘urbanized’ place that has a concentration of jobs, housing units, commercial uses, public spaces, public transportation, and / or pedestrian activity and a sense of place. These areas are frequently located at significant activity nodes. Predominant land uses are commercial, non-commercial and public. Within these relatively compact geographic areas, different land uses are found side by side or within the same structures. The mix of uses are often located in developments with minimal setbacks, reduced parking requirements and taller structures, all in an effort to achieve higher densities necessary to support multiple nodes of transportation and pedestrian activity (where relevant), private investment and a sense of place. These areas are catalysts for public and private investment and economic activity, effectively building off the strengths of the surrounding area and connecting to surrounding uses. Implementation and management of catalyst areas is generally the responsibility of a combination of entities including business organizations, special districts, neighborhood and other interest groups, and individual property owners.” 26

20. Incentive Policy (cont’d) Benchmark the Market • Request continued feedback to Town by project representatives • Receipt of information beyond the period during which the Town participates, is completely voluntary • Desire to assist in staying current on market conditions and continued relevance of incentives 26

21. Incentive Policy (cont’d) Tools and Strategies • Urban Renewal (TIF) • Infrastructure Cost Participation • Pedestrian Enhancements / Linkages • Operating and Maintenance Costs • Tax Abatement / Reimbursement • Regulatory Reform • Design Guidelines • Land Transactions • Tax Exempt Bond Financing • Local Grants • Low Interest Loans • Federal and State Grants • Predevelopment Due Diligence • Fee Waivers • Special Districts • Parking Districts • Loan Pools • Project Participation • Business Relocation / Retention Assistance • Development Approval Facilitation 23

22. FundingRequest and Development Review (Step 1) Contact Town regarding plan concept. If located within targeted investment area move to Step 2a. If not within targeted investment area move to Step 2b. (Step 2a) Meet with members of Town Management Team regarding need for public assistance. Collect incentive policy, as well as all other Development Review Process documents and forms. (See Step 2b) Move to Step 3. (Step 3) Return forms for review and evaluation relative to consistency with criteria and ability to create a public benefit. If concept is consistent with comprehensive plan and regulations (zoning) move to Step 4a. If inconsistent, but advances criteria, move to Step 4b. If inconsistent and does not advance criteria move to Step 6 if applicant has the ability to develop project without public assistance or cease process. (Step 2b) Begin Development Review Process – meet with Town Staff and collect all necessary policy and regulatory documents, process instructions, and supporting forms and schedule of fees. Move to Step 6. 28

23. FundingRequest and Development Review (Step 4a) Schedule and present concept to Town Council for authorization to negotiate a Preliminary Incentive Agreement (memorandum of understanding.) Move to Step 5. (Step 5) Initiate preparation of the Incentive Agreement and move to Step 7. (Step 4b) Schedule meeting with Planning & Zoning Commission for consideration of the concept. With their authorization, proceed to Step 5. Without their authorization, cease process. (Step 6) Initiate review process by Planning & Zoning Commission and Town Staff. 28

24. Process Forms • Funding Request Form • Reference Check Questionnaire • Request Evaluation Form • Confidential Statement of Financial Capability 28

25. Discussion 28