ACTION REQUESTED:
Title
Communication from the City Manager and the Chief Innovation Officer with a Request to RECEIVE and FILE a PRESENTATION and to Discuss the Findings from the URBAN3, LLC COMPARATIVE VALUE PER ACRE MODEL.
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BACKGROUND: As part of the investigation phase for the selected priority focus of neighborhood scale economic development, the Innovation Team identified the need for a quantitative analysis of the financial implications of different land uses throughout the community.
On July 26, 2016, City Council approved a contract with Urban3, LLC for economic analysis and data visualization services, including a comparative value per acre model. Urban3, LLC has concluded the data collection and analysis portion of their work, and has prepared a presentation of findings. Joe Minicozzi from Urban3, LLC will present the firm’s discoveries and detail how land use economics can be used as a strategy for achieving the highest return on investment. The evaluation will be used to inform both overall and geographically-targeted strategies and policy recommendations.
FINANCIAL IMPACT: N/A
NEIGHBORHOOD CONCERNS: N/A
IMPACT IF APPROVED: N/A
IMPACT IF DENIED: N/A
ALTERNATIVES: N/A
EEO CERTIFICATION NUMBER: N/A
WHICH OF THE GOALS IDENTIFIED IN THE COUNCIL’S 2014 - 2029 STRATEGIC PLAN DOES THIS RECOMMENDATION ADVANCE?
1. Financially Sound City Government, Effective City Organization
2. Grow Peoria: Businesses, Jobs, and Population
3. Vibrant Downtown: Riverfront/ Central Business District/ Warehouse District
WHICH CRITICAL SUCCESS FACTOR(S) FROM THE COMPREHENSIVE PLAN DOES THIS RECOMMENDATION IMPLEMENT?
1. Support sustainability.
2. Reinvest in neighborhoods.
DEPARTMENT: City Manager's Office