Who benefits from a revitalized downtown?
Merchants
•
Greater opportunity for growth and expansion
• Expanded customer base
• Less financial risk
Property
Owners
• Stable or higher rents
• Increased occupancy rates
• Improved marketability of property
• Higher property values
Financial
Institutions
•
Expanded business customer base
• Expanded residential customer base
• Improved public image and goodwill
• Fulfillment of community reinvestment mandate
Professionals
and Service Businesses
•
Ready-made base of district employees
• Location near government, banks, post office, and
other institutions
• Nearby amenities for clients and staff
Chamber
of Commerce
•
Potential new member businesses
• Healthier overall business climate
• Potential partnerships on joint projects
Residents
•
Local accessibility to goods and services
• Opportunities for volunteerism and leadership
development
• Preservation of community for future generations
• More employment opportunities
• Stronger tax base to support other community aspects
(schools, parks, etc.)
Local
Government
•
Increased sales and property tax base
• Protection of property values and infrastructure
investment
• Reduced cost of services, such as police and fire
protection
• Reduced pressure for sprawl development
Community
Partners
(CDCs,
BIDs, civic clubs, historical societies, historic
preservation organizations, religious institutions, senior
citizens, arts groups, etc.)
• Improved quality of life in the community
• New membership potential among new residents
• Achievement of common goals
• Preservation of community history
Schools
•
Youth involvement in civic projects
• Use of commercial district as
“classroom” for school projects
• Potential employment and business opportunities
• More places to go and activities for youths
Businesses
Outside the District
•
Increased visitor traffic to the community
• Improved municipal services throughout community
• Increased business from overall healthier economy
• Additional amenities for employees and clients
Industry
•
Improved quality of life makes recruiting and retaining
employees easier
