Capital Improvement Program Fiscal Years 2019-2024 Presented by: Kimberly Clark, Executive Vice President 1
BDC Mission • BDC serves as the economic development agency for the City of Baltimore • Our mission is to: – Retain and expand existing businesses – Attract new business opportunities – Increase job opportunities for City residents – Expand the tax base – Support cultural resources 2
Fiscal Year 2016 – 2017 CIP Accomplishments 3
Façade Improvement Grant (FIG) Program FY19 Request: $500,000 • The BDC Façade Improvement Grant (FIG) Program offers up to $7,500 in matching grant funding to businesses looking to visibly improve the exterior of their property 320 W. 29 th St - Before • In FY2016-17, BDC completed 17 façade grants using $103,797 in capital funding to leverage a total private/public investment of $570,196.53. BDC has 320 W. 29 th St - After also allocated an additional $99,607.90 in capital funding for 19 façade 4 improvements pending completion .
Façade Improvement Grant (FIG) Program FY19 Request: $500,000 5276 Park Heights Ave - Before 5276 Park Heights Ave- After 5
Façade Improvement Grant (FIG) Program FY19 Request: $500,000 1625 Ridgely St – Before 6 1625 Ridgely St – After
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MicroLoan Program FY19 Request: $100,000 • Funding provides existing small and start-up businesses with financing for working capital to meet operational needs or promote expansion • In FY2016-17, BDC closed 10 loans totaling $228,000 . These loans resulted in the retention of 23 jobs and the creation of 26 new jobs . The loans generated $627,000 in capital investment . 8 Benedetto’s Haberdashery – 324 Park Ave. Trisha’s Almond Toffee
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Industrial & Commercial Financing FY19 Request: $500,000 Open Works – 1400 Greenmount Ave. 10
Industrial & Commercial Financing FY19 Request: $500,000 Holly Poultry – 2020 Washington Blvd 11
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Innovation Fund FY19 Request: $200,000 • The Innovation Fund utilizes loan funds for use by Baltimore City’s technology industry and supports business and job growth • In FY 2017, BDC distributed $300,000 in Innovation Funds to support business incubators such as Innovation Village, Betamore, Impact Hub, and Conscious Venture Lab 13
Innovation Fund FY19 Request: $200,000 Impact Hub Baltimore – 10 E North Ave Betamore – 1111 Light St 14
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Fiscal Year 2019 Additional CIP Requests 16
Westside Historic Properties Stabilization • FY19 Request: $500,000 Stabilizing & preserving historic properties in Westside Downtown to encourage private sector investment Historic Mayfair Theater façade stabilization – 508 N Howard St 17
Brooklyn Commercial Area Improvements • FY19 Request: $350,000 Rendering of 3700 block S Hanover Street Support the development of properties along the Brooklyn commercial gateway in conjunction with state BRNI funding 18
Southwest Plan Implementation • FY19 Request: $700,000 Implementation of recommendations from the 2015 Southwest Partnership Plan for seven neighborhoods to improve commercial business activities Lion Brothers Building – 875 Hollins St 19
Business Park Upgrades • FY19 Request: $200,000 Utilize funding for capital improvements in five BDC-managed business parks to attract and retain businesses Damaged roads in Holabird Business Park 20
East North Ave. Corridor Improvements • FY19 Request: $500,000 Multi-agency planning process to improve the physical appearance of the East North Avenue gateway to promote area businesses and job growth 1701 E. North Avenue – The Gompers Building Participants at the East North Ave. Listening Session 21
Penn North • FY19 Request: $1,000,000 Implementation of recommendations from the multi- agency LINCS planning process in the Penn North commercial corridors 22
Community Revitalization - Greenmount Avenue • FY19 Request: $500,000 Implementation of recommendations from the multi-agency LINCS planning process in the Greenmount Avenue commercial corridor City Arts 2 OpenWorks Makerspace North Barclay Green 23
Community Revitalization – Belair Road • FY19 Request: $500,000 Implementation of streetscaping and pedestrian improvements around the Gardenville Shopping Center on Belair Rd Pedestrian challenges at Gardenville Shopping Center 24
Good Food Loan Fund • FY19 Request: $100,000 Creation of a loan fund that would support start-up and early-stage food businesses in healthy food priority areas Red Emma’s Bookstore Coffeehouse Dovecote Cafe 25
7 E. Redwood Capital Improvements • FY19 Request: $500,000 Completion of needed maintenance improvements at City-owned and occupied historic property at 7 E Redwood Street 26
Public Market Improvements • FY19 Request: $1,000,000 Implementation of capital improvements to the markets to enable them to provide customers with fresh food options Cross Street Market rendering Before & After – Northeast Market improvements 27
Lexington Market • FY19 Request: $700,000 Capital improvements and merchandising upgrades to Lexington Market to address obsolete infrastructure, ageing structures, and poor market layout Lexington Market rendering 28
Fiscal Years 2019 – 2023 Future CIP Requests 29
Sharp-Leadenhall • FY19-24 Request: $500,000 total Proposed infrastructure improvements will leverage ongoing private development to attract residents and commercial businesses Stadium Square development 30
Frederick Avenue Streetscaping • FY19-24 Request: $2,100,000 total Repair aging infrastructure between Athol and Hilton Avenues to improve pedestrian safety and commercial corridor perceptions Poor pedestrian crossing opportunities on Frederick Avenue (from Irvington TAP presentation) 31
Pigtown Streetscaping & Lighting • FY19-24 Request: $200,000 total Additional lighting and streetscaping around the 900 block of Washington Boulevard to enhance ongoing development along the corridor Project Rendering – 906 Washington Blvd 32 Suspended Brewing Company – 912 Washington Blvd
Cherry Hill Corridor Improvements • FY19-24 Request: $500,000 total Funding for façade improvements, streetscaping, and other improvements along the Cherry Hill corridor surrounding the Cherry Hill Town Center Cherry Hill Town Center 33
Harford Road Improvements • FY19-24 Request: $500,000 total Road improvements to implement complete street practices along Harford Road Commercial corridor along Harford Road 34
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