Agenda 1. Welcome and Introductions Tony Shu, Esq. 2. Overview of - - PowerPoint PPT Presentation

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Chinatown Proposed SSA Community Meeting | July 6, 2017 Agenda 1. Welcome and Introductions Tony Shu, Esq. 2. Overview of Special Service Areas Mark Roschen, City of Chicago 3. Key Steps in the Process PLACE Consulting 4. Vision

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Agenda

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1. Welcome and Introductions – Tony Shu, Esq. 2. Overview of Special Service Areas – Mark Roschen, City of Chicago 3. Key Steps in the Process – PLACE Consulting 4. Vision & Mission – Darryl Tom 5. Boundaries – Darryl Tom 6. Needs Assessment - PLACE Consulting 7. SSAs throughout the City - PLACE Consulting 8. Program Priorities / Budget & Work Plan - Kevin Lee 9. Tax Information and Next Steps - PLACE Consulting & SSA Advisory

Committee

  • 10. Questions & Adjournment
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

2

Advisory Committee Members

  • Stan Bochnowski, Chicago Chinatown Chamber of Commerce Vice President / Lakeside Bank
  • Joyce Chiu, Chicago Chinatown Chamber of Commerce Chinese Secretary/ Evergreen Jewelry
  • Peter Hui, Won Kow Restaurant
  • Helen Lee, Chicago Chinatown Chamber of Commerce Advisory Board / King Wah, Inc.
  • Kevin Lee, East Point Properties
  • Raymond Lee, Chicago Chinatown Chamber of Commerce Director / Golden Country
  • Kam Liu, Chicago Chinatown Chamber of Commerce Director / Kam L. Liu & Realty
  • Patrick McShane, Chicago Chinatown Chamber of Commerce Director/ American Metro Bank
  • Soo Lon Moy, Chinese American Museum of Chicago
  • Stephen Moy, Retired
  • Tony Shu, Chicago Chinatown Chamber of Commerce President / Tony T. Shu & Associates
  • Darryl Tom, Shaw Legal Services, Ltd.
  • Sharyne Moy Tu, Chicago Chinatown Chamber of Commerce Executive Director
  • Jenny Yang, Chicago Chinatown Chamber of Commerce Director / Phoenix Bean
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Key Steps in the Process

  • 3 Advisory Committee Meetings to discuss:
  • SSA vision and mission
  • Property data & analysis
  • Potential boundaries
  • Needs assessment
  • Documentation of support
  • Budget & work plan
  • Commissioners
  • Governance & operations
  • 4 Community Meetings to present recommendations:
  • Boundaries
  • Tax rate cap
  • Initial year tax rates
  • Work plan
  • Boundaries, tax rate cap, 1st year budget and work plan
  • Finalize information for application
  • Informational emails and SSA surveys distributed
  • Postcards sent to all taxpayers of record to inform them of

informational meetings

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Benefits of an SSA

  • Create cleaner, safer & more attractive business district
  • Ensure a stable & predictable source of funding for services

& programs

  • Provide non-bureaucratic & innovative management of a

business district

  • Create ability to respond quickly to market changes &

community needs

  • Help maintain/increase property values & sales/occupancy

rates

  • Develop a stable environment & district identity
  • Leverage resources including money, services & people
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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SSA Vision

The Chinatown SSA makes Chicago’s Chinatown a welcoming destination for residents, visitors, and businesses alike.

SSA Mission

The Chinatown SSA supports the economic well-being and tourism appeal of the district through physical improvements, programs, services, and promotional events/activities.

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Proposed SSA Boundaries

6

North

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

[CATEGORY NAME], [VALUE] [CATEGORY NAME], [VALUE] [CATEGORY NAME], [VALUE] [CATEGORY NAME], [VALUE]

Survey Respondents

Needs Assessment

7 Most of the Visitors are City of Chicago residents Most of the Business Owners have owned their business for 10+ years AND rent their space Most of the Residents own their home All of the Commercial Property Owners have owned their properties for 10+ years

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Needs Assessment Highlights

(based on 49 responses, 58% of which were from visitors)

8

  • Highly regarded as a destination
  • Seen as average to above average in terms of vibrancy
  • Safety somewhat of a concern during evening hours
  • Dining options, transit, and parks are highly rated
  • Residents and business owners agree on following

concerns

  • Desire for:

 Signage/wayfinding  Bike racks  Bike lanes  Public gathering spaces  Snow removal  Landscaping  Condition/appearance of buildings  Parking  Cost of retail space  Vacant buildings  Diversity

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

How would you rate Chinatown as a destination?

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5 10 15 20 25 1 - Great 2 3 4 5 - Poor

  • Older age groups (45+) more likely to provide higher rating
  • Commercial property owners & visitors more likely to provide higher rating
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

How vibrant do you think Chinatown is as a business district?

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  • Respondents younger than 45 more likely to provide higher rating
  • Only visitors rated Chinatown as 1- Very vibrant

2 4 6 8 10 12 14 16 18 20 1 - Very vibrant 2 3 4 5 - Not at all vibrant

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

How would you rate the safety of the Chinatown business district during the following times?

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5 10 15 20 25 Early morning (5am-7am) Morning (7am-12pm) Afternoon (12pm-4pm) Evening (4pm-8pm) Night (8pm-11pm) Late night/overnight (11pm-5am) 5 - Not at all safe 4 3 2 1 - Very safe

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Ratings of Conditions in Chinatown

(5 = great and 1 = poor)

12 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 Dining

  • ptions

Transit Parks Retail

  • ptions

Recreation Snow removal Street lighting Safety Cleanliness Dog parks

Resident Rating Business Rating

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Top Concerns

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Residents Business Owners

Parking Condition/appearance of buildings Condition/appearance of buildings Parking Mix of businesses Cost of retail space Pedestrian experience Vacant lots Family friendly atmosphere Vacant buildings Cost of retail space Diversity Sidewalk conditions Vacant buildings Availability of services Diversity

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

What do you think would attract more tourists to Chinatown?

14 0.00 0.50 1.00 1.50 2.00 2.50

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Which of the following would have the greatest positive impact on the business district?

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0.00 0.50 1.00 1.50 2.00 2.50

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Citywide Info (52 SSAs)

  • Average tax cap 1.317%
  • Average 2014 EAV $92,719,086.76
  • Average tax rate 0.816%
  • Average budget $520,550.92

Citywide SSA Information (2017)

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Comparable SSA Information

Greektown #16

  • EAV: $70,369,634
  • Levy: $788,201
  • Tax Cap: 1.000%
  • Tax Rate: 1.000%

Lincoln Square #21

  • EAV: $80,287,254
  • Levy: $246,294
  • Tax Cap: 0.40%
  • Tax Rate: 0.30%

Old Town #48

  • EAV: $65,033,796
  • Levy: $186,291
  • Tax Cap: 0.300%
  • Tax Rate: 0.29%

Andersonville #22

  • EAV: $44,770,689
  • Levy: $262,109
  • Tax Cap: 0.500%
  • Tax Rate: 0.46%

Devon #43

  • EAV: $46,299,303
  • Levy: $448,568
  • Tax Cap: 1.500%
  • Tax Rate: 0.97%

Clark/Morse/Glenwood #24

  • EAV: $44,402,397
  • Levy: $279,735
  • Tax Cap: 0.630%
  • Tax Rate: 0.630%
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Comparable SSA Information

$0 $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 0.000% 0.200% 0.400% 0.600% 0.800% 1.000% 1.200% 1.400% 1.600%

Tax Caps, Rates and Levies

Tax Cap Tax Rate Levy

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Program Categories

  • Customer Attraction – website, banners, special events, decorations, advertising
  • Public Way Aesthetics – Landscaping, litter/snow removal, public art,

wayfinding

  • Sustainability & Public Places – Transit enhancements, bike valet,

energy/recycling programs

  • Economic/Business Development – Site marketing, supplemental transit,

studies & plans, SSA designation

  • Safety Programs – Cameras, private security
  • SSA Management – Administrative & programmatic expenses
  • Personnel
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

20

Citywide SSA Budget Averages

Customer Attraction, $78,071 Public Way Aesthetics, $226,589 Sustainability, $7,829 Economic Development, $27,573 Safety Programs, $59,999 SSA Management, $31,873 Personnel, $88,613

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

21

First Year Budget - Capital

Category Budget Customer Attraction $20,000 Public Way Aesthetics $89,000 Sustainability & Public Place $0 Economic/Business Development $0 Safety Programs $0 SSA Management $7,800 Personnel $38,000 Loss Collection – 4.3% $6,955 Total $161,755

Administrative expenses are 10.3% of the total budget; the City of Chicago’s cap is 30% in 2017

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Program Expense Details

Customer Attraction Description Budget

Special Events Sponsorship of existing events such as the Lunar Near Year Parade Dragon Board Race, Summer Fair; support of potential new events such as a Restaurant Week and Night Market $3,000 Decorative Banners Installation of banners one time/year $10,000 Print Materials Business directory and visitors guide $7,000

Public Way Aesthetics Description Budget

Landscaping Annual contract for maintaining landscaping and providing seasonal plantings throughout the year $25,000 Streetscape Elements Lighting of Chinatown Square and Wentworth Avenue $10,000 Sidewalk Maintenance- Materials & Equipment Installation of 10-15 new trash cans $12,500 Sidewalk Maintenance- Service Contract Annual contract for trash removal 2-3 times/week $20,000 Permits Permitting for new trash cans $1,500 Snow Removal Annual contract for snow removal at 2" of accumulation $20,000

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

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Equalized Assess Value (EAV) Time Tax Increment Finance (TIF) District Unfrozen Base (increment) Frozen Base

  • Properties in TIF may realize growth in EAV but the SSA’s portion
  • f the taxes are frozen at the pre-TIF amount (“Base EAV”)

SSA – TIF Relationship

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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Sample Average Costs

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Class PINs 2016 EAV 0.2426% Avg Cost 0.40% Avg Cost 0.60% Avg Cost

Exempt 12 $0 $0 $0 $0 $0 $0 $0 Vacant 2 $22,036 $53 $27 $88 $44 $132 $66 Residential 13 $675,916 $1,640 $126 $2,704 $208 $4,055 $312 Mixed Use 82 $11,597,965 $28,135 $343 $46,392 $566 $69,588 $849 Commercial 154 $55,488,680 $131,926 $874 $217,531 $1,441 $326,296 $2,162 Total 263 $67,784,597 Total Less TIFF 263 $66,678,563 $161,755 $625 $266,714 $1,031 $400,071 $1,546

  • EAV figure is the most current available (from 2016)
  • 24th St/Michigan Ave TIF expires in 2022
  • ~$1.1M in EAV is captured by the TIF
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Tax Cap Calculations

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  • A tax rate cap of 0.80% has been chosen

Tax Rate 2016 Lesser EAV Levy Inflation Year 10 Budget EAV Growth Est 2026 EAV Tax Cap

0.2426% $66,678,563.00 $161,755 3.000% $217,385 0.0% $66,678,563

0.326%

0.2426% $66,678,563.00 $161,755 3.000% $217,385 1.0% $73,654,615.98 0.295% 0.2426% $66,678,563.00 $161,755 3.000% $217,385 2.0% $81,280,796

0.267%

0.2426% $66,678,563.00 $161,755 3.000% $217,385

  • 1.0%

$60,302,897

0.360%

0.2426% $66,678,563.00 $161,755 3.000% $217,385

  • 2.0%

$54,481,241

0.399%

Tax Rate 2016 Lesser EAV Levy Inflation Year 10 Budget EAV Growth Est 2026 EAV Tax Cap

0.6000% $66,678,563.00 $400,071 3.000% $537,662 0.0% $66,678,563

0.806%

0.6000% $66,678,563.00 $400,071 3.000% $537,662 1.0% $73,654,615.98 0.730% 0.6000% $66,678,563.00 $400,071 3.000% $537,662 2.0% $81,280,796

0.661%

0.6000% $66,678,563.00 $400,071 3.000% $537,662

  • 1.0%

$60,302,897

0.892%

0.6000% $66,678,563.00 $400,071 3.000% $537,662

  • 2.0%

$54,481,241

0.987%

  • $161,755 budget scenario
  • $400,071 budget scenario
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Chinatown Proposed SSA Community Meeting | July 6, 2017

PLACE Consulting, Inc. People, Livability, Accessibility, Community & Economic Development

Next Steps

26

  • 4th Community Meeting – Thursday, July 13th at 6PM
  • Finalize legal description
  • Submit SSA Application and Commissioner Applications

to DPD by July 14th, 2017