Capital Improvement Program Fiscal Years 2019-2024 Presented by: - - PowerPoint PPT Presentation

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Capital Improvement Program Fiscal Years 2019-2024 Presented by: - - PowerPoint PPT Presentation

Oct 04, 2022 581 likes •933 views

Capital Improvement Program Fiscal Years 2019-2024 Presented by: Kimberly Clark, Executive Vice President 1 BDC Mission BDC serves as the economic development agency for the City of Baltimore Our mission is to: Retain and expand

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Capital Improvement Program

Fiscal Years 2019-2024

Presented by: Kimberly Clark, Executive Vice President

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BDC Mission

  • BDC serves as the economic development agency for the

City of Baltimore

  • Our mission is to:

– Retain and expand existing businesses – Attract new business opportunities – Increase job opportunities for City residents – Expand the tax base – Support cultural resources

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Fiscal Year 2016 – 2017 CIP Accomplishments

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Façade Improvement Grant (FIG) Program

320 W. 29th St - Before

  • The BDC Façade Improvement Grant (FIG)

Program offers up to $7,500 in matching grant funding to businesses looking to visibly improve the exterior of their property

FY19 Request: $500,000

  • In FY2016-17, BDC completed 17 façade

grants using $103,797 in capital funding to leverage a total private/public investment of $570,196.53. BDC has also allocated an additional $99,607.90 in capital funding for 19 façade improvements pending completion.

320 W. 29th St - After

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Façade Improvement Grant (FIG) Program

5276 Park Heights Ave - Before

FY19 Request: $500,000

5276 Park Heights Ave- After

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Façade Improvement Grant (FIG) Program

1625 Ridgely St – Before 1625 Ridgely St– After

FY19 Request: $500,000

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MicroLoan Program

  • Funding provides existing small and start-up businesses with financing for working capital to meet
  • perational needs or promote expansion
  • In FY2016-17, BDC closed 10 loans totaling $228,000. These loans resulted in the retention of 23

jobs and the creation of 26 new jobs. The loans generated $627,000 in capital investment.

Benedetto’s Haberdashery – 324 Park Ave.

FY19 Request: $100,000

Trisha’s Almond Toffee

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Industrial & Commercial Financing

FY19 Request: $500,000

Open Works – 1400 Greenmount Ave.

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Industrial & Commercial Financing

FY19 Request: $500,000

Holly Poultry – 2020 Washington Blvd

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Innovation Fund

  • The Innovation Fund utilizes loan funds for use by

Baltimore City’s technology industry and supports business and job growth

  • In FY 2017, BDC distributed $300,000 in Innovation Funds

to support business incubators such as Innovation Village, Betamore, Impact Hub, and Conscious Venture Lab

FY19 Request: $200,000

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Innovation Fund

FY19 Request: $200,000

Impact Hub Baltimore – 10 E North Ave Betamore – 1111 Light St

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Fiscal Year 2019 Additional CIP Requests

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Westside Historic Properties Stabilization

Stabilizing & preserving historic properties in Westside Downtown to encourage private sector investment

Historic Mayfair Theater façade stabilization – 508 N Howard St

  • FY19 Request: $500,000
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Brooklyn Commercial Area Improvements

Support the development of properties along the Brooklyn commercial gateway in conjunction with state BRNI funding

Rendering of 3700 block S Hanover Street

  • FY19 Request: $350,000
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Southwest Plan Implementation

Implementation of recommendations from the 2015 Southwest Partnership Plan for seven neighborhoods to improve commercial business activities

Lion Brothers Building – 875 Hollins St

  • FY19 Request: $700,000
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Business Park Upgrades

Utilize funding for capital improvements in five BDC-managed business parks to attract and retain businesses

Damaged roads in Holabird Business Park

  • FY19 Request: $200,000
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East North Ave. Corridor Improvements

Multi-agency planning process to improve the physical appearance of the East North Avenue gateway to promote area businesses and job growth

1701 E. North Avenue – The Gompers Building Participants at the East North Ave. Listening Session

  • FY19 Request: $500,000
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Penn North

Implementation of recommendations from the multi- agency LINCS planning process in the Penn North commercial corridors

  • FY19 Request: $1,000,000
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Community Revitalization - Greenmount Avenue

Implementation of recommendations from the multi-agency LINCS planning process in the Greenmount Avenue commercial corridor

OpenWorks Makerspace North Barclay Green

  • FY19 Request: $500,000

City Arts 2

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Community Revitalization – Belair Road

Implementation of streetscaping and pedestrian improvements around the Gardenville Shopping Center on Belair Rd

Pedestrian challenges at Gardenville Shopping Center

  • FY19 Request: $500,000
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Good Food Loan Fund

Creation of a loan fund that would support start-up and early-stage food businesses in healthy food priority areas

Dovecote Cafe

  • FY19 Request: $100,000

Red Emma’s Bookstore Coffeehouse

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7 E. Redwood Capital Improvements

Completion of needed maintenance improvements at City-owned and

  • ccupied historic property at 7 E

Redwood Street

  • FY19 Request: $500,000
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Public Market Improvements

Implementation of capital improvements to the markets to enable them to provide customers with fresh food options

  • FY19 Request: $1,000,000

Cross Street Market rendering Before & After – Northeast Market improvements

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Lexington Market

Capital improvements and merchandising upgrades to Lexington Market to address

  • bsolete

infrastructure, ageing structures, and poor market layout

Lexington Market rendering

  • FY19 Request: $700,000
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Fiscal Years 2019 – 2023 Future CIP Requests

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Sharp-Leadenhall

Proposed infrastructure improvements will leverage

  • ngoing private

development to attract residents and commercial businesses

Stadium Square development

  • FY19-24 Request: $500,000 total
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Frederick Avenue Streetscaping

Repair aging infrastructure between Athol and Hilton Avenues to improve pedestrian safety and commercial corridor perceptions

  • FY19-24 Request: $2,100,000 total

Poor pedestrian crossing opportunities on Frederick Avenue (from Irvington TAP presentation)

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Pigtown Streetscaping & Lighting

Additional lighting and streetscaping around the 900 block of Washington Boulevard to enhance ongoing development along the corridor

  • FY19-24 Request: $200,000 total

Suspended Brewing Company – 912 Washington Blvd Project Rendering – 906 Washington Blvd

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Cherry Hill Corridor Improvements

Funding for façade improvements, streetscaping, and other improvements along the Cherry Hill corridor surrounding the Cherry Hill Town Center

  • FY19-24 Request: $500,000 total

Cherry Hill Town Center

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Harford Road Improvements

Road improvements to implement complete street practices along Harford Road

  • FY19-24 Request: $500,000 total

Commercial corridor along Harford Road