Chinatown Proposed SSA Community Meeting | July 6, 2017 Agenda 1. Welcome and Introductions – Tony Shu, Esq. 2. Overview of Special Service Areas – Mark Roschen, City of Chicago 3. Key Steps in the Process – PLACE Consulting 4. Vision & Mission – Darryl Tom 5. Boundaries – Darryl Tom 6. Needs Assessment - PLACE Consulting 7. SSAs throughout the City - PLACE Consulting 8. Program Priorities / Budget & Work Plan - Kevin Lee 9. Tax Information and Next Steps - PLACE Consulting & SSA Advisory Committee 10. Questions & Adjournment PLACE Consulting, Inc. 1 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Advisory Committee Members • Stan Bochnowski, Chicago Chinatown Chamber of Commerce Vice President / Lakeside Bank • Joyce Chiu, Chicago Chinatown Chamber of Commerce Chinese Secretary/ Evergreen Jewelry • Peter Hui, Won Kow Restaurant • Helen Lee, Chicago Chinatown Chamber of Commerce Advisory Board / King Wah, Inc. • Kevin Lee , East Point Properties • Raymond Lee, Chicago Chinatown Chamber of Commerce Director / Golden Country • Kam Liu, Chicago Chinatown Chamber of Commerce Director / Kam L. Liu & Realty • Patrick McShane, Chicago Chinatown Chamber of Commerce Director/ American Metro Bank • Soo Lon Moy , Chinese American Museum of Chicago • Stephen Moy , Retired • Tony Shu, Chicago Chinatown Chamber of Commerce President / Tony T. Shu & Associates • Darryl Tom , Shaw Legal Services, Ltd. • Sharyne Moy Tu, Chicago Chinatown Chamber of Commerce Executive Director • Jenny Yang, Chicago Chinatown Chamber of Commerce Director / Phoenix Bean PLACE Consulting, Inc. 2 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Key Steps in the Process • 3 Advisory Committee Meetings to discuss: • • SSA vision and mission Documentation of support • • Property data & analysis Budget & work plan • • Potential boundaries Commissioners • Needs assessment • Governance & operations • Informational emails and SSA surveys distributed • Postcards sent to all taxpayers of record to inform them of informational meetings • 4 Community Meetings to present recommendations: • • Boundaries Initial year tax rates • • Work plan Tax rate cap • Boundaries, tax rate cap, 1 st year budget and work plan • Finalize information for application PLACE Consulting, Inc. 3 3 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Benefits of an SSA • Create cleaner, safer & more attractive business district • Ensure a stable & predictable source of funding for services & programs • Provide non-bureaucratic & innovative management of a business district • Create ability to respond quickly to market changes & community needs • Help maintain/increase property values & sales/occupancy rates • Develop a stable environment & district identity • Leverage resources including money, services & people PLACE Consulting, Inc. 4 4 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 SSA Vision The Chinatown SSA makes Chicago’s Chinatown a welcoming destination for residents, visitors, and businesses alike. SSA Mission The Chinatown SSA supports the economic well-being and tourism appeal of the district through physical improvements, programs, services, and promotional events/activities. PLACE Consulting, Inc. 5 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Proposed SSA Boundaries North PLACE Consulting, Inc. 6 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Needs Assessment Survey Respondents [CATEGORY NAME], [VALUE] Most of the Residents own their home [CATEGORY NAME], [VALUE] [CATEGORY NAME], Most of the Visitors are City of [VALUE] Chicago residents Most of the Business Owners have owned their business for 10+ years AND rent their space [CATEGORY NAME], [VALUE] All of the Commercial Property Owners have owned their properties for 10+ years PLACE Consulting, Inc. 7 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Needs Assessment Highlights (based on 49 responses, 58% of which were from visitors) • Highly regarded as a destination • Seen as average to above average in terms of vibrancy • Safety somewhat of a concern during evening hours • Dining options, transit, and parks are highly rated • Residents and business owners agree on following concerns Condition/appearance of Cost of retail space Vacant buildings buildings Parking Diversity • Desire for: Signage/wayfinding Public gathering spaces Bike racks Snow removal Landscaping Bike lanes PLACE Consulting, Inc. 8 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 How would you rate Chinatown as a destination? 25 20 15 10 5 0 1 - Great 2 3 4 5 - Poor • Older age groups (45+) more likely to provide higher rating • Commercial property owners & visitors more likely to provide higher rating PLACE Consulting, Inc. 9 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 How vibrant do you think Chinatown is as a business district? 20 18 16 14 12 10 8 6 4 2 0 1 - Very vibrant 2 3 4 5 - Not at all vibrant • Respondents younger than 45 more likely to provide higher rating • Only visitors rated Chinatown as 1- Very vibrant PLACE Consulting, Inc. 10 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 How would you rate the safety of the Chinatown business district during the following times? Late night/overnight (11pm-5am) Night (8pm-11pm) Evening (4pm-8pm) Afternoon (12pm-4pm) Morning (7am-12pm) Early morning (5am-7am) 0 5 10 15 20 25 5 - Not at all safe 4 3 2 1 - Very safe PLACE Consulting, Inc. 11 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Ratings of Conditions in Chinatown (5 = great and 1 = poor) 5.00 4.50 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 0.00 Dining Transit Parks Retail Recreation Snow Street Safety Cleanliness Dog parks options options removal lighting Resident Rating Business Rating PLACE Consulting, Inc. 12 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Top Concerns Residents Business Owners Condition/appearance of buildings Parking Parking Condition/appearance of buildings Cost of retail space Mix of businesses Vacant lots Pedestrian experience Vacant buildings Family friendly atmosphere Diversity Cost of retail space Sidewalk conditions Vacant buildings Availability of services Diversity PLACE Consulting, Inc. 13 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 What do you think would attract more tourists to Chinatown? 2.50 2.00 1.50 1.00 0.50 0.00 PLACE Consulting, Inc. 14 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Which of the following would have the greatest positive impact on the business district? 2.50 2.00 1.50 1.00 0.50 0.00 PLACE Consulting, Inc. 15 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Citywide SSA Information (2017) Citywide Info (52 SSAs) • Average tax cap 1.317% • Average 2014 EAV $92,719,086.76 • Average tax rate 0.816% • Average budget $520,550.92 PLACE Consulting, Inc. P eople, L ivability, A ccessibility, C ommunity & E conomic Development
Chinatown Proposed SSA Community Meeting | July 6, 2017 Comparable SSA Information Greektown #16 Lincoln Square #21 • • EAV: $80,287,254 EAV: $70,369,634 • • Levy: $246,294 Levy: $788,201 • • Tax Cap: 0.40% Tax Cap: 1.000% • • Tax Rate: 0.30% Tax Rate: 1.000% Old Town #48 Devon #43 • • EAV: $65,033,796 EAV: $46,299,303 • • Levy: $186,291 Levy: $448,568 • • Tax Cap: 0.300% Tax Cap: 1.500% • • Tax Rate: 0.29% Tax Rate: 0.97% Andersonville #22 Clark/Morse/Glenwood #24 • • EAV: $44,770,689 EAV: $44,402,397 • • Levy: $262,109 Levy: $279,735 • • Tax Cap: 0.500% Tax Cap: 0.630% • • Tax Rate: 0.46% Tax Rate: 0.630% PLACE Consulting, Inc. 17 P eople, L ivability, A ccessibility, C ommunity & E conomic Development
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