Mayors Downtown Revitalization Task Force: Final Report and - PowerPoint PPT Presentation

Mayor’s Downtown Revitalization Task Force: Final Report and Recommendations Presentation to Committee of the Whole October 20, 2014

Background • Task Force established by Council in April, 2014 • Mayor selected Mark Dickinson as Chair and Brian Losie as Vice-Chair • Committed Task Force Members – first meeting occurred on April 14 th • 14 official meetings • countless hours between meetings

Background Primary Objective:  Identify and evaluate the current, controllable factors affecting the economic viability of downtown and formulate achievable actions and strategies to improve business and foster a revitalized town centre.

Background • Early in the process - Task Force developed and approved Terms of Reference and Communication Plan • Two Interim Reports to Council • Final Report and presentation is the culmination of the Task Force’s work over the past 6 months.

Revitalization Action Ideas List (RAIL)  Community was asked for input and ideas  Established a document to track and capture ALL ideas – called it the RAIL  A total of 108 ideas compiled

Revitalization Action Ideas List (RAIL)  Prioritized each idea according to Strategic Priority and Level of Importance  Only those ideas which scored a 2 or better were brought forward for consideration at this time  RAIL ideas organized according to perceived “responsibility” – Town, SBIA, Chamber or combination.

Revitalization Action Ideas Listing (RAIL)

Overarching Goals (or BHAGs)  Four overarching goals (or BHAGs) were established as a way to measure performance  What is a BHAG? – Big Hairy Audacious Goal

Overarching Goals (or BHAGs) Increase gross retail sales by seven percent per annum 1. Secure an effective measurement tool   2% is anticipated inflation 5% is business growth 

Overarching Goals (or BHAGs) Increase the Town’s population to 15,000 by 2025 2. Increase density - idea mentioned several times  Downtown residential - supported by OCP and LAP   Represents 2.5% growth per year Consistent with long-term OCP projections and  infrastructure capacity

Overarching Goals (or BHAGs) Achieve and maintain the lowest commercial/retail 3. vacancy rate in the Capital Region  Currently the 2 nd highest in CRD (Colliers)

Overarching Goals (or BHAGs) Achieve an “A” rating in the “ 20 Ingredients of an 4. Outstanding Destination ”  Currently have a “C” rating  Goal is an overall “A” rating within 5 years

Surveys  Two separate surveys:  Shoppers  Downtown Property Owners and Business Owners  Interviewing from June 18-27, 2014  Completed a usable 1,424 interviews with shoppers.

Shoppers’ Survey • According to shoppers, things are pretty good just the way they are.

The Shopping Experience Why do people shop in downtown Sidney, what are the most compelling reasons, the best features? because it’s convenient 51% to support local businesses 15% general ambiance of downtown 14% (almost as important as second reason) also the unique shops, walkability, good variety of stores * Note: downtown ambiance and the unique shops are of particular importance to out-of-area visitors

The Shopping Experience Suggested improvements are all at minor levels, suggesting a very high level of satisfaction with the shopping experience. Primary mentions (all 6% or less) are:  later openings  more stores geared toward youth  lower prices  more variety of stores/merchandise

The Shopping Experience  We also asked if there is any store or type of store they would like to see in downtown Sidney  The only suggestions of note: asked for chain/big box stores 17% more clothing stores 12% specialty restaurants 10% stores that cater to youth 10% All other mentions are lower

Business Survey  Mail-out of questionnaires to all downtown property owners and/or business owners  Poor response – only 50 returns (10%)  Due to such a low response, analysis can only be on an observational basis.

Tax Rate Impacts Commercial Tax Rates within CRD – All “Non - Provincial” Taxes 20.00000 18.00000 16.00000 14.00000 12.00000 10.00000 8.00000 6.00000 4.00000 2.00000 -

Tax Rate Impacts Change in Tax Multiples since 2007 3.5000 3.0000 2.5000 2.0000 1 - Residential 5 - Light Industry 6 - Business/Other 1.5000 8 - Recreation/Non-profit 1.0000 0.5000 - 2007 2008 2009 2010 2011 2012 2013 2014

Task Force Key Recommendations  Four key recommendations for a resilient and vibrant downtown Sidney.

Task Force Key Recommendations 1. Town of Sidney to take on a more active role in a formalized Economic Development function.

Task Force Key Recommendations 2. Town of Sidney to review key policies that may inhibit, or further enhance, Economic Development (i.e. Downtown / Waterfront Local Area Plan, Official Community Plan, Parks Use Policy, Revitalization Incentives, Taxation, Parking, Amenities, etc.)

Task Force Key Recommendations 3. Town of Sidney to support the Sidney Business Improvement Area (SBIA) in its efforts to market Sidney as a destination.

Task Force Key Recommendations 4. Town of Sidney to undertake planning and physical improvements that will positively impact Economic Development. These would include, at a minimum:  gateway and wayfinding signage; additional downtown revitalization; leveraging Beacon Wharf and other seaside gateways.

Recommendations to Council That the final Task Force Report be received for 1. information, and referred to the future Council for consideration That all the Key Recommendations of the Task Force 2. be considered as part of the Town’s upcoming budget process, and incorporated into the Town’s Action Plans for 2015 That the Town continue to act on high-priority RAIL 3. items referred by the Task Force.

Questions?