Development of $50M for Amateur Sports Tournament Facilities
Disciplines Involved: Regional Amateur Sports Tournament Hosting Facility; Intergovernmental collaboration, Public-private participation, Grants and Special Taxing.
Issue: Rockford Park District (RPD), a Gold Medalist winning district and the second largest park district in the state of Illinois, has established itself as a national and regional amateur sports tournament hosting destination, providing world-class amateur sports facilities that serve local residents and stimulate the region’s economy. The project involved the collaboration of five local governments which was led by the RPD.
Our Work: Our team was brought onto this project in 2009 when the project was in its concept phase. Our professionals led the regional local government stakeholders through the process of developing a consensus vision for the project and garnering political support from community stakeholders. This work involved the creation of a comprehensive feasibility report which included a competitive peer group analysis and the community’s risk and opportunities analysis related to the pursuit of the project.
Our team led the formation of a local government coalition (Winnebago Sports Tourism Facility Board) to help build consensus and fund the project. We created and maintained a financial model that was the cornerstone of the stakeholder’s decision making, which led to the Winnebago Sports Tourism Facility Board sponsoring state legislation (drafted and promoted by our team) to facilitate the project’s financing and spread risk amongst the stakeholders.
Outcome: our team developed the financial structure, drafted the bond documents and worked with underwriters to sell the bonds. Simultaneously, our facilities team initiated the public bid processes to identify scope and contract with planners, engineers, architects and constructors. Finally, we acted as owner’s agents for the coalition, ensuring the project was on time and under budget.
Intergovernmental Transportation Project
Disciplines Involved: Intergovernmental collaboration, Project Management & Facilitation Services
Issue: On behalf of a city client, our team worked closely with staff to bring about a $25,000,000 regional transportation project that included the construction of a new county highway, expansion of existing roads, improvements to a tollway interchange, and public utility improvements.
Our Work: The project was unique not only because it involved nearly 3,000 acres of property owned by dozens of individuals, but also because our team brought together five public agencies to collectively enhance and achieve our client (the City’s) goals. The tollway authority contributed $10M for bridge improvements and new exit ramps, the Park District contributed $2M for better access to its regional amateur sports tournament facility, the County contributed $4M for county roadways, the non-sponsoring neighboring community contributed $2M for improvements to roadways adjoining its community and private property owners, along with the City of Loves Park contributed the balance.
Outcome: The end result was that a $25M transportation public works project was achieved for our client at a cost of $5.5M or 22% of the total cost.
Intermodal Facility Evaluations & Negotiations
Disciplines Involved: Evaluation and Negotiations of Municipal Intermodal Facility
Issue: A local community was seeking to build a $1.5B national intermodal transportation facility.
Our Work: Members of our team took point on impact studies, economic analysis, project coordination and development agreement negotiations. The proposed facility was to be located on 1,700 acres of unincorporated land that would be serviced by the community upon annexation. The developer sought $120M in economic assistance from our client.
Outcome: Through the use of our impact studies and economic analysis, the community recognized that its long term cost to provide core municipal services (sewer, water, police, fire, schools and roads) would require $50M. As a result, the community refused to approve any deal that would not allow it to cover its direct costs of core municipal services.
Master Planning, Entitlement Services, and Economic Contribution from a Local Government
Disciplines Involved: Master Planning, Entitlement Services, and Economic Contribution from a Local Government
Issue: Our team was hired by a leading healthcare system to provide Master Planning services for one of its seven regional campuses including a new physical plant, parking facilities, storm water detention solutions, ring roads, beatification and image enhancements, a new Intensive Care facility and a new state of the art Bed Tower.
Our Work: The client engaged our team to negotiate the acquisition of property necessary to accomplish the plan, work with contractors to accurately determine cost, coordinate and collaborate with appropriate architects to begin the design of the physical facilities, undertake government entitlement and solicit economic contributions from the local community.
TIF Financing for New World Headquarters
Disciplines Involved: TIF Financing
Issue: A local community was looking to attract, negotiate and relocate a high-tech employer to an area of its community that had been neglected for decades. The primary incentive tool used by the community to achieve the rehabilitation and gentrification of the depressed area was a Tax Increment Financing District (TIF). The community’s goal was to provide a mechanism to finance public improvements that would help spur private investment and redevelopment in the dangerously blighted area. Qualifying the site for TIF helped to promote development and drive new economic expansion and job growth.
Our Work: Our team led the TIF implementation, provided economic analysis, and acted as lead negotiator with the developers of the property.
Outcome: Through negotiations with the taxing districts, we were able to achieve a Redevelopment Agreement that was a success for the entire region.
TIF Financing for new global headquarters on former Superfund Site
Disciplines Involved: TIF Financing on former Superfund Site
Issue: A municipality had an inquiry from one of the nation’s largest manufacturers of industrial lubricants about relocating its headquarters to a site which was heavily blighted in an otherwise quaint rural community. The site was classified as a Superfund Site by the U.S. EPA, the buildings were in significant disrepair and the area was serviced by inadequate sanitary sewers. This relocation would result in clean-up of the site, renovation of industrial buildings, construction of a new $35,000,000 office building, and the creation of 500 new jobs in the community.
Our Work: Working as Tax Increment Financing (TIF) Consultants, our team provided impact analysis, economic modeling, master planning, and legal services for the establishment of the TIF district boundaries and negotiations of the Redevelopment Agreement on behalf of its municipal client. While the project seemed to be the ideal development, many taxing districts and citizens had concerns and questions. As part of the process, our team launched an informational website for the project, conducted open houses and attended meetings with the taxing bodies to provide as much accurate information about the project to the public as possible.
Outcome: Ultimately, the redevelopment agreement was negotiated and approved, the TIF district was formed and the corporation has relocated to the TIF district.
TIF Financing, Architectural and Construction Management Services
Disciplines Involved: TIF Financing, Architectural and Construction Management Services
Issue: This engagement called for the renovation of an 110,000 square foot eight-story historical landmark.
Our Work: Our team acted as the project managers and oversaw the planning, hiring of historical tax credit experts, negotiations with the local community for Tax Increment Financing (TIF), parking analysis and negotiations, architectural services and construction management. Our team was involved from initial acquisition through lease-up. It was a complete renovation of the physical structure which included demolition, environmental abatement, design, construction and occupancy.
Outcome: The building houses the headquarters for two international companies and from one of which we received an award for on the design and construction of its space.
Disciplines Involved: Economic Incentives
Issue: Our team created a Tax Increment Financing (TIF) district for a local government client that included a Greenfield tract of industrial land. After the TIF district was in place, our client was notified that this tract of land was being considered as one of many sites across the country for an aerospace firm to build a new 300,000 square foot research, development, and manufacturing facility.
Our Work: Our firm was initially hired to help create the first response in the selection process. Within four months, our client was notified that their site was the only site in its state to be on the finalist list. Our client next asked our firm to step-in and lead the intergovernmental negotiations with the state and county governments to assemble a $57M incentive package. Our economic development professionals (both legal and consulting) moved quickly to create a financial model, facilitate a coordinated effort by the states and local governments and negotiate with the site selectors and the aerospace firm.
Outcome: Within five months, the company announced that it selected the site in our client’s community. Without this quick, thorough and coordinated effort, and the TIF, our local government client would not have been able to compete for these new jobs and the region as a whole would have lost the opportunity to be part of this 50-year investment that is projected to directly create 1,200 jobs and result in an additional 2,400 jobs from businesses who will locate in the region to support the target company’s operations.
Commercial & Industrial Redevelopment
Disciplines Involved: Commercial & Industrial Redevelopment Location
Issue: The Winn39 Industrial Park Conservation Area includes 1,360 acres of predominately vacant land near a major transportation route that provides access to the Chicago-Rockford International Airport and a major inter-modal hub in nearby Rochelle, Illinois. This was a cooperative undertaking by the County of Winnebago and the Villages of Cherry Valley and New Milford to formulate a redevelopment plan addressing the loss of jobs and lack of growth and economic activity within this area of the County.
Our Work: The County retained our team to prepare the eligibility report and redevelopment plan that addressed a number of obstacles and needs within the Redevelopment Project Area. This project required our team to work in conjunction with area legislators to draft language and amend the Industrial Jobs Recovery Law (IJRL) to allow the two villages to form the district. Additionally, our team assisted the County in forming a water district within the IJRL Redevelopment Project Area to provide municipal potable water service and support for fire suppression systems. As part of this scope of services, we also assisted the County in setting up a Special Service Area (SSA) District within the IJRL boundaries to finance the water system construction.
Outcome: The Project Area is expected to create approximately 3,500 permanent jobs.
Real Estate Tax Shield, TIF Financing, Intergovernmental Collaboration
Disciplines Involved: Real Estate Tax Shield
Issue: One of the nation’s largest integrated healthcare providers was looking to invest more than $100M in one of its campuses, but the improvements required an upgrade to the public infrastructure on and around its campus. The local government was interested in supporting this redevelopment plan, but did not have adequate financial resources to make the improvements.
Our Work: Our consultants negotiated with local governments in two communities to implement a TIF and subsequently negotiate a Redevelopment Agreement for the benefit of our client.
Outcome: The Agreement for one of these communities provided payment of real estate tax increment up to $95 million over a 23-year period to our client.