HILLSBOROUGH COUNTY TARGETED REDEVELOPMENT PROGRAM Building - PowerPoint PPT Presentation

HILLSBOROUGH COUNTY TARGETED REDEVELOPMENT PROGRAM Building Economic Prosperity Through Redevelopment Ron Barton, Assistant County Administrator for Economic Prosperity

Hillsborough County’s Economic Development Strategy must also address redevelopment.  Distressed areas of our community need engagement  Many areas are still relevant locations for job creation  Program strategy to engage private capital and stabilize/grow tax base  Synergies with transportation improvements and other infrastructure  BOCC messaging that we are committed to previously developed areas

Two-Tiered Redevelopment Approach  Innovation Alliance Initiative  Hillsborough County Redevelopment Initiative

Redevelopment Area Criteria  Primarily defined as any census block group that meets HUD’s low to moderate income criteria and is located in the Urban Service Area  Primarily focused on office and industrial job creation redevelopment opportunities (not retail/not residential)  Primarily focused on sites in which the land values are at least 50% of the total just value or greater  Primarily requires a private sector partner to engage in the redevelopment activity (not solely a public sector effort)

University Pilot Project Area

Palm River Pilot Project Area

56 th St N Pilot Project Area

North Airport-Anderson-Dale Mabry Pilot Project Area

New Redevelopment Programs and Tool-Kit  Building and site redevelopment for Industrial Purposes  Large site repurposing to Job Creators (non-retail)  Community Enhancement Initiatives  Infrastructure as a catalyst for specific redevelopment project(s)  Matching Grant-Contaminated Property Clean Up Program  Jobs/Company Incentives for redevelopment areas  Unique economic catalyst projects and P3’s

Related Programs and Tools  Enterprise Zone Program  CDBG Funding  State QTI and other Jobs incentives  Brownfields Program  County CIP  Mobility Fee Program  Go Hillsborough (TED)

NEXT STEPS FOR REDEVELOPMENT PROGRAM  1 st Quarter FY16 – Work Pilot Project areas and Promote Program  Realtors and Developers (NAIOP and FGCAR)  Property Owners and Business Owners  2 ND Quarter FY16 – Finalize Policy Alignments to Redevelopment Program (in tandem with Comp Plan Update/LDR’s)  Mobility Fee Program  Incentive Program  Zoning and Land Use Alignments  Entitlements  3 rd Quarter FY16 – Application/Solicitation Process to Identify Specific Projects of Engagement and BOCC review/approval