AICUP Economic Development How to Approach Private and Public Partners “Lessons Learned”

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AICUPAICUPEconomic DevelopmentEconomic Development

How to Approach Private and How to Approach Private and PublicPublic Partners Partners

“Lessons Learned”“Lessons Learned”

June 3, 2010June 3, 2010

Franklin & Marshall CollegeFranklin & Marshall College

Keith A. OrrisVice President for Administrative Services and Business, Government and Community Relationskeith.orris@fandm.edu

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College RowCollege Row

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College Hill Children’s CenterCollege Hill Children’s Center

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Lancaster Northwest Gateway ProjectLancaster Northwest Gateway Project

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Northwest Gateway Project - Armstrong Northwest Gateway Project - Armstrong PhasePhase

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Northwest Gateway Project – Armstrong Northwest Gateway Project – Armstrong PhasePhase

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Northwest Gateway Project - Norfolk Northwest Gateway Project - Norfolk Southern PhaseSouthern Phase

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Lessons Learned #1 Lessons Learned #1 “It’s In Our Own Self-Interest”“It’s In Our Own Self-Interest”

Institutional self-interest/competitive advantage Institutional self-interest/competitive advantage - neighborhood environment counts- neighborhood environment counts

Substantial community institutions with Substantial community institutions with generational staying power and leadership generational staying power and leadership capacitycapacity

Return on investments – short term vs. long Return on investments – short term vs. long termterm

Beneficial to host communityBeneficial to host community

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Lessons Learned #2Lessons Learned #2“Create a Clear Vision”“Create a Clear Vision”

Comprehensive, multi-disciplined Comprehensive, multi-disciplined vision - no silver bulletsvision - no silver bullets A strategic plan for the neighborhood A strategic plan for the neighborhood

not the entire citynot the entire city

Bring in the best expertise available to Bring in the best expertise available to drive initiatives – avoid poorly planned drive initiatives – avoid poorly planned projectsprojects

Long term commitment from the BoardLong term commitment from the Board

Lessons Learned #3 Lessons Learned #3 “Find A Partner”“Find A Partner”

Joint ventures are highly desirable - capital Joint ventures are highly desirable - capital is scarceis scarce

• Establish and leverage key institutional Establish and leverage key institutional partnerships - it’s all about relationships – partnerships - it’s all about relationships – private and publicprivate and public

• Prove your commitment through financial Prove your commitment through financial equity and pre-development workequity and pre-development work

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Lessons Learned #4 Lessons Learned #4 “Communication Plan”“Communication Plan”

Communicate, communicate, Communicate, communicate, communicatecommunicate

• Communicate often and thoroughlyCommunicate often and thoroughly

• Prepare marketing plan in advance to Prepare marketing plan in advance to address neighborhood issuesaddress neighborhood issues

• Prepare a “war room” strategyPrepare a “war room” strategy

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Lessons Learned #5Lessons Learned #5“The Power of Momentum”“The Power of Momentum”

Nothing beats the power of momentumNothing beats the power of momentum

• Launch strategically and get early Launch strategically and get early successessuccesses

• Take reasonable risksTake reasonable risks

• Significant commercial development Significant commercial development opportunities exist - “college town” opportunities exist - “college town” market is growingmarket is growing

• Stay focusedStay focused

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Scalable Action PlanScalable Action Plan

1.1. Transform neighborhood into visually attractive Transform neighborhood into visually attractive and safe area through “clean and safe initiatives”and safe area through “clean and safe initiatives”

2.2. Promote home ownership to improve housing Promote home ownership to improve housing stockstock

3.3. Invest in neighborhood public schools so new Invest in neighborhood public schools so new home buyers are attractedhome buyers are attracted

4.4. Provide neighborhood retail amenities and Provide neighborhood retail amenities and servicesservices

5.5. Promote local economic and community Promote local economic and community development through strategic projectsdevelopment through strategic projects

Summary of Lessons Summary of Lessons LearnedLearned

1.1. It’s in Our Own Self-InterestIt’s in Our Own Self-Interest

2.2. Create a Clear VisionCreate a Clear Vision

3.3. Find a Partner – RelationshipsFind a Partner – Relationships

4.4. Communicate ConstantlyCommunicate Constantly

5.5. Build Momentum and Stay Build Momentum and Stay Focused Focused

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Closing ThoughtsClosing Thoughts

Colleges and universities can be great Colleges and universities can be great anchors for livable communities because anchors for livable communities because of unique resourcesof unique resources

Academic institutions must be encouraged Academic institutions must be encouraged to come “off the hill” and become long to come “off the hill” and become long term community partnersterm community partners

Colleges and universities can make a Colleges and universities can make a difference - all initiatives can be difference - all initiatives can be appropriately scaled for any size appropriately scaled for any size institution and communityinstitution and community