MANATEE COUNTY, FLORIDA Urban Land Institute Advisory Services Panel March 17 – March 22, 2013

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3 ABOUT THE URBAN LAND INSTITUTE • The mission of the Urban Land Institute is to provide

leadership in the responsible use of land and in creating and sustaining thriving communities worldwide.

• ULI is a membership organization with nearly 30,000 members, in 100 countries on 6 continents representing the spectrum of real estate development, land use planning, and financial disciplines, working in private enterprise and public service.

• What the Urban Land Institute does:

– Conducts Research

– Provides a forum for sharing of best practices

– Organizes and conducts meetings

– Directs outreach programs

– Conduct Advisory Services Panels

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3 ADVISORY SERVICES PROGRAM • Since 1947

• 15 - 20 panels a year on a variety of land use subjects

• Provides independent, objective candid advice on important land use and real estate issues

• Process – Review background materials – Receive a sponsor presentation & tour – Conduct stakeholder interviews – Consider data, frame issues and write

recommendations – Make presentation – Produce a final report

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3 THANKS TO OUR SPONSOR

Special thanks to Chairman Larry Bustle and

the Manatee County Commissioners Ed Hunzeker

John Osborne Kathleen Thompson

The Manatee County community and all of our 81 interviewees

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3 PANEL MEMBERS Chairman Michael Maxwell Managing Partner Maxwell + Partners Miami, Florida

Panelists Tom Hester Urban Design Practice Leader Parsons Brinckerhoff Tempe, Arizona Anita Kramer Vice President Center for Capital Markets The Urban Land Institute Washington, DC Bob Lewis Principal Development Strategies St. Louis, Missouri

Daniel Liggett Urban Designer Rundell Ernstberger Associates Indianapolis, Indiana David Pandoli Principal Woolpert Charlotte, North Carolina David Panagore Chief Operating Officer City of Hartford Hartford, Connecticut Jon Suddarth Development Analyst THK Associates Aurora, Colorado

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3 THE PANEL’S ASSIGNMENT Based upon demographic, land economic, and market projections and trends, which type of “Best Place” fits for the future of Manatee County and what do we need to do, to achieve it?

What development patterns are successful in increasing the efficiency of infrastructure?

Are there development patterns and products that better align with trends and economic activities in the region?

Are there development patterns, types of development or activities that may complement or encourage targeted industries?

What incentives for redevelopment should be implemented?

As the county spends millions on infrastructure replacement in areas with dwindling property values, what can they do to get a better return on the investment in these areas?

1

2

3

4

5

6

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3 SUMMARY OF RECOMMENDATIONS • The panel lauds the detailed professional work accomplished that is

the basis for How We Grow.

• The panel applauds the County for launching a long-term visioning and engagement process that will facilitate community acceptance

• The panel found all three alternatives applicable county-wide

• How We Grow is a solid platform to create detailed plans, policies and implementation strategies for each of the County’s four geographic sectors

• The panel recommends partnerships with the county school system and area universities to improve outcomes, focus curriculum, knowledge and skills on 21st century jobs in sports, aviation, medicine, the arts and sciences and supportive careers

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3 SUMMARY OF RECOMMENDATIONS • The panel recommends seeking governance changes at both the

International Airport and Port to enable public / private partnerships, investment and expansion as the key drivers of the County’s economic growth

• The panel recommends investment in detailed market studies to help it identify specific strategies for targeted investment at the K-12 and college levels to align educational opportunities with 21st century employment

• The panel recommends leveraging IMG’s international reputation to “brand” Manatee County as the sports training capital of America

• The panel recommends extending the sports brand to medicine by attracting specialized sports injury repair, rehabilitation, and performance enhancement medical practices and facilities

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3 SUMMARY OF RECOMMENDATIONS

• The panel recommends targeted investment in the Southwest / Bradenton sector

• The panel recommends immediate action to consolidate and expand

current CRA’s to capture the substantial value that will be created in the Southwest / Bradenton sector

• The panel strongly encourages following the recommendation of

Daniel Burnham; “Make no small plans for they no means to stir men’s souls.”

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MARKET Jon Suddarth/Bob Lewis/Anita Kramer

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3 MARKET AND ECONOMIC ANALYSIS – TAMPA MSA AND MANATEE COUNTY

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3 MARKET AND ECONOMIC ANALYSIS • Manatee County is part of the 6 county Tampa-Bradenton-Sarasota MSA • 6 county MSA’s 2013 population is 3.2 million, Manatee County 2013 population is

331,000 with 140,000 households . • Between 2008-2010, the Tampa MSA lost 191,000 jobs. Since 2010, area has added

58,000 jobs. It will take approximately 4.5 years to reach 2007 levels. • Between 2008-2010, Manatee County lost 26,000 jobs. Since 2010, area has added 5,000

jobs and at 2,900 jobs annually it will take nearly 7 years to reach 2007 job levels. • Largest job concentration is in healthcare (24%), finance/insurance (22%), and government

(12%). • Projected 2023 population of 388,000 with 163,000 households, this will equate to annual

housing unit demand of 2,298.

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Manatee County split into four submarkets: Lakewood Ranch, Parrish, Port Manatee/Palmetto, and Southwest/Bradenton

MANATEE COUNTY SUBMARKETS MAP

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3 PERMITTED RESIDENTIAL LOTS

Southwest/ Bradenton

Lakewood Ranch

Parrish Port Manatee/ Palmetto

2K

4K

6K

8K

10K

12K

14K

16K

11,0

62

6,86

9

16,7

61

7,64

8

Manatee County Current Permitted Residential Lots by Submarket

Units

per

mitt

ed

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3 YEARS OF SUPPLY

20

40

60

80

100

120

140

Southwest/ Bradenton

Lakewood Ranch

Parrish

24.4

4.9

45.1

133.1

Manatee County Years of Permitted Residential Supply Given Current Market Conditions by Submarket

Port Manatee/ Palmetto

Year

s of s

uppl

y

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Manatee County Raw Land Values by Type and Submarket

Submarket Residential Retail/Commercial Office Medical Office Industrial/Flex Hotel

Southwest Bradenton (Manatee Fruit 1,300-ac) $1.50 $4.00 $3.00 $3.60 $2.00 $7.00

Southwest Bradenton (Urban Core) $0.30 $0.60 $0.60 $0.72 $0.40 $1.40

Lakewood Ranch $1.40 $5.00 $4.00 $4.80 $2.50 $5.00

Parrish $0.60 $2.50 $2.00 $2.40 $1.88 $3.00

Port Manatee $0.55 $2.00 $1.60 $1.92 $2.50 $3.00

Combined Average $0.87 $2.82 $2.24 $2.69 $1.86 $3.88

*Values on a per Square Foot Basis and based on an average transaction between 10-15 acres

CURRENT LAND VALUES BY SUBMARKET

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100M

200M

300M

400M

500M

600M

Southwest/ Bradenton

(2,232.5 acres)

Lakewood Ranch

(7,197.5 acres)

Parrish (2,096.3

acres)

Port Manatee/ Palmetto

(820.2 acres)

$179

,021

,435

$519

,984

,712

$63,

569,

642

$63,

761,

330

MANATEE COUNTY PROJECTED LAND VALUES BY SUBMARKET

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3 MARKET — PORT MANATEE Strengths • Nearest deep-water port to “new” Panama

Canal

• Only Florida seaport with developable land

• Expansion and improvements for goods and passengers

• Direct Class A rail service (CSX)

• Good access to I-75 on high capacity highways

• Notable international marketing strategy with existing foreign trade zone (FTZ)

• Overt federal government interest in Port development

• Direct and indirect economic impact of $1.4 billion annually and 20,000 jobs

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Challenges • Lack of land control to the east

• Lack of lodging and dining

• Not enough ships

• Financing

• Ownership and management

MARKET — PORT MANATEE

Opportunities • International recognition

• Public-Private Partnerships to enhance financing and exploit profit motive

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3 MARKET — PARRISH Strengths • Historic village center, railroad

beginnings

• High quality residential development

• Substantial entitlements for housing

• Overlay regulations protecting rural character and public rights-of-way

• Rowing sports facility, part of international sports program

• Feld Entertainment’s 250 jobs

• Adequate road network.

• Good schools with capacity for growth

• Civic Association and solid relations with County government

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Challenges • Time and distance to retail and

dining

• Overlay restrictions on significant retail development

• Economics of low density prevents substantial sewer extensions

• Low density household income prevents commercial development

• North-South connection with rest of County

MARKET — PARRISH

Opportunities • Commercial support for rowing center

• Railroad history and museum

• Institutionalize a strong and cohesive advocacy organization

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3 MARKET — LAKEWOOD RANCH Strengths • Successfully created a sense of place/a “there”,

something that has not been achieved elsewhere in the County thus far

• High level of positive community/regional recognition

• Created a live-work-play environment

• Created a new regional retail center

• Established a new regional office center

• Establishing two new regional/international sports facilities

• Accessible to large areas of open space

• Incorporated first mixed-use Main Street in County (residential over retail)

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Weaknesses • Shifted focus away from existing

areas

• Little opportunity to capture Lakewood Ranch buying power in other areas of the county

• Not served well by transit

• Current high retail and office vacancy rate

• Removed from Gulf amenities

MARKET — LAKEWOOD RANCH

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Strengths • Airport Area • Higher Education/Cultural Center

– USF, CFU, New College, Ringling School of Art and Design, Ringling Museums, Asolo Thater

• Downtown Bradenton – Riverwalk – McKechnie Field

• DeSoto Mall • IMG • Manatee Fruit property • Palma Sola Bay

MARKET — SOUTHWEST QUADRANT

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Challenges • Street configuration/congestion

and lack of alternatives • Weak urban character

Opportunities • Natural resources • Sports • Immediately developable land • Higher education • Airport

MARKET — SOUTHWEST QUADRANT

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COMMON THEMES & EMERGING IDENTITIES

INTERNATIONALManatee County is Open for Business

AIRPORTManatee County is Open for Business

PORT MANATEEManatee County is Open for Business

Good Paying JobsBusiness Development ATHLETICS Good Paying Jobs

Business Development

EDUCATION & MEDICINE

ECO-TOURISM

WATERManatee County is Wet and Wild

OPEN SPACEManatee County is Growing Green

Beaches • Fishing • Boating RECREATION Trails • Conservation • Agriculture

ACTIVE LIFE STYLES

HEALTHManatee County is 21st in Florida Fitness

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DESIGN + PLANNING Tom Hester/David Pandoli/Daniel Liggett

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3 Community Development Issues

• Growth is happening. • How do you grow?

– All three (3) scenarios are viable • Lack of defined places

– Development Patterns •Land Use •Transportation •Open Space

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3 KEY ISSUES - TRANSPORTATION

• Lack of North / South and East

/ West network • Disrupted

alternate transportation routes

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3 KEY ISSUES – LAND USE

• Single use and auto-oriented

• Low density

• High vacancy

• Small parcels

• Infill Capacity

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3 KEY ISSUES – OPEN SPACE

• Lack of connecting system

• Opportunity to engage natural features

• Lack of investment in public realm

• Organization

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3 OPPORTUNITIES - LIVABILITY

• Culture • Safety • Environment • Education • History • Athletics

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3 OPPORTUNITIES – ATTRACTIONS + DRIVERS

• Airport and Port of Manatee

• IMG • USF Sarasota-Manatee • McKechnie Field • Bradenton Riverfront • Ringling Center • Libraries and schools

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3 OPPORTUNITIES – GREEN NETWORK

• Use existing natural

features such as waterfronts and beaches to create a more connected system

• Upgrade the public realm in addition to connecting to existing natural features

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3 Our urban patterns are a direct result of our past

public policies…

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3 The land patterns of the future are dependent upon the

decisions we make today

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CREATE A VISION AS BOLD AS YOUR OPPORTUNITIES

HOW DO YOU LEVERAGE YOUR OPPORTUNITIES?

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3 CURRENT DEVELOPMENT INTEREST

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3 WEST COUNTY – CHARACTER DISTRICTS

• Define character districts

• Link with lifestyle

and market • Create visions for

each district

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3 CHARACTER DISTRICTS

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3 AN INTEGRATED VISION

• Integrate Markets – Sports, recreation, technology,

industry • Regional Connections & Gateways • Create Places

– Regional destinations – Local Destinations – Leverage environmental assets

• Create Multimodal Connectivity – Complete Streets – Connected parks & trails – Bike and Pedestrian amenities – Transit

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3 GATEWAYS announce entries

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3 LANDMARKS celebrate places

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3 FRAMEWORK OF AN IDEA

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3 POSSIBLE SOUTHWEST CONCEPT

• Greenway links to the SW places

• Connecting Water and Green spaces

• Central Park connecting N/S Places

• Connecting Jobs & Attractors

• Creating new places for the community

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3 Central Park Idea

• Desoto Mall • Connectivity - E/W

places, Parks & Recreation

• Multimodal - Transit, Bike, Pedestrian

• Tiered Development

• Traffic management

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3 Prioritizing Opportunities

• Identify economic underutilization • Create barrier analysis for key parcels – Developer readiness

– Market – Physical Criteria - Size, configuration – Infrastructure – Streets, parks, services – Policies, Land Development Regulations – Legal, title, encumbrances – Environmental Clearance – Access, Mobility and Connectivity – Ownership Patterns - Assemblage opportunities

• Define Urban Form & Quality Regulations • Create diverse implementation strategies

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IMPLEMENTATION David Panagore

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3 IMPLEMENTATION

•Economic Drivers •Planning •Districts •Economic Development Tools •Financing

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3 ECONOMIC DRIVERS/JOB CREATION • Airport Related Activities • Higher Education Projects • Port Related Industrial Projects • Sports Performance Facilities • Medical Offices & Research

Facilities Partnership Idea • Community Blood

Center/Community Tissues

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3 PLANNING • Refine, Define & Focus Comprehensive Plan

– Create distinctions for each district – Vary the density and height regulations

• Zoning – Adopt a form based zoning code

•Begin in Southwest area – Airport Overlay District – Rt 41/Tamiami Trail “Central Park” Overlay District

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3 PLANNING

Design Guidelines • Gateways • Rt 41 “Central Park” Overlay Stormwater Management • reduce incidence and severity

of flooding • create recreational

opportunities Market Studies • Both market segment and/or

district specific

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3 DISTRICTS

Parrish/Lakewood • 25,000 entitled units • Regulate timing of development

& permits • Entitlement Extensions eliminate

Impact Fee Credits • Review Impact Fees Port Manatee • Strong Leadership • Capacity for Growth • Public-Private Partnership • $1.4B/annual impact

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3 DISTRICTS Riverfront • Increase density & height limits • Storefront Project/Pop-up Stores

program • Closer Coordination with

Incorporated Areas

Southwest • Increase density & height limits • Rt 41 “Central Park” Connector • Expanded CRA • Focus on Neighborhood Amenities

– Exceed the standards East of I-75 • In-fill housing before any site

clearance – Use of tax credits

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3 ECONOMIC DEVELOPMENT TOOLS • Revamp Airport Governance

• CRA for the Southwest

• Housing Tax Credits

• Pop-Up Store Grant program

• Small Business/Start-up – Focus on creating an

infrastructure of service providers

• Port Public-Private Partnership

• Sports

• National Blood & Tissue Center

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3 FINANCING + INVESTMENT

• Adoption of 26/13 plan

• Examine the impact fees category exemptions, and amounts

• Extensions cost Credits

• Special Assessment District for neighborhood improvements

• Value Capture expanded CRA

• Infrastructure bank funded by half cent tax

• Public investment must be matched by private investment

– leveraged at least at 3:1

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3

Thank you! Questions?