Keeping the Mad River Valley Vibrant (A Working Document) - - PowerPoint PPT Presentation

▶

May 18, 2023 15 likes •557 views

Keeping the Mad River Valley Vibrant (A Working Document) 11/15/18 2 The Mad River Valley 11/15/18 3 11/15/18 4 11/15/18 5 Community Vision A Welcoming Community Healthy Sustainable

SLIDE 1

Keeping the Mad River Valley Vibrant ¡

¡

(A Working Document)

SLIDE 2

11/15/18 ¡ 2 ¡

SLIDE 3

11/15/18 ¡ 3 ¡

The Mad River Valley

SLIDE 4

11/15/18 ¡ 4 ¡

SLIDE 5

11/15/18 ¡ 5 ¡

SLIDE 6

11/15/18 ¡ 6 ¡

¡Community Vision

A Welcoming Community Healthy Sustainable Environment for Future Generations Diverse Economy Enhance Year-round Recreation Maintain Historic Settlements

SLIDE 7

11/15/18 ¡ 7 ¡

Build on the Momentum Make a Reality

SLIDE 8

11/15/18 ¡ 8 ¡

Great Assets

SLIDE 9

11/15/18 ¡ 9 ¡

Challenges

SLIDE 10

11/15/18 ¡ 10 ¡

Resources

SLIDE 11

11/15/18 ¡ 11 ¡

Aging Population

SLIDE 12

11/15/18 ¡ 12 ¡

Shortage of affordable workforce housing

SLIDE 13

11/15/18 ¡ 13 ¡

Limited ¡employment ¡opportuni8es, ¡ ¡ yet ¡not ¡enough ¡service-‑industry ¡employees ¡

SLIDE 14

11/15/18 ¡ 14 ¡

Local ¡businesses ¡struggling ¡with ¡seasonal ¡ visita8on ¡swings ¡

Jan ¡ Feb ¡ Mar ¡ Apr ¡ May ¡ Jun ¡ Jul ¡ Aug ¡ Sep ¡ Oct ¡ Nov ¡ Dec ¡

SLIDE 15

11/15/18 15

Shrinking school population

SLIDE 16

11/15/18 16

Climate change impacts

SLIDE 17

11/15/18 ¡ 17 ¡

Inadequate public transportation

SLIDE 18

11/15/18 ¡ 18 ¡

MRV nonprofit groups and towns are trying to address these issues but are faced with many hurdles.

SLIDE 19

11/15/18 ¡ 19 ¡

Outside funding shrinking or disappearing

SLIDE 20

11/15/18 ¡ 20 ¡

We are suggesting a solution

SLIDE 21

11/15/18 ¡ 21 ¡

The Mad River Valley FLO

For Local Opportunities

¡

SLIDE 22

11/15/18 ¡ 22 ¡

Economic Vitality Committee 8 months of research and study Study after study has been done, it is time to come together and take the 1st step

SLIDE 23

11/15/18 ¡ 23 ¡

The MRV FLO

Our goal

Reinvest in the MRV so it remains attractive for future generations who will continue to enrich the community and sustain its quality of life Provide a more seasonably balanced customer base to stabilize our local economy.

Our strategy

SLIDE 24

11/15/18 ¡ 24 ¡

SLIDE 25

11/15/18 ¡ 25 ¡

The BIG Questions How do we achieve the Goal via the Strategy? Who manages the effort?

SLIDE 26

11/15/18 ¡ 26 ¡

FLO Fund Investments

SLIDE 27

11/15/18 ¡ 27 ¡

Community Projects

SLIDE 28

11/15/18 ¡ 28 ¡

Destination Marketing

$8.5 ¡

million ¡ ¡

SLIDE 29

11/15/18 ¡ 29 ¡

Fund a staff position to assist the MRVRD

board in implementing MRVRD Strategic Plan

Recreation

SLIDE 30

11/15/18 ¡ 30 ¡

Economic Development

SLIDE 31

11/15/18 ¡ 31 ¡

Where can the $ come from?

SLIDE 32

11/15/18 ¡ 32 ¡

1% Local Option Tax (LOT)

1% on Retail, Rooms, Meals & Alcohol

SLIDE 33

11/15/18 ¡ 33 ¡

Local Money Managed Locally Spent Locally

SLIDE 34

11/15/18 ¡ 34 ¡

¡Why Valley-wide Initiative?

Valley investing in the Valley Leverage existing resources

SLIDE 35

11/15/18 ¡ 35 ¡

How much $ will be raised?

SLIDE 36

11/15/18 ¡ 36 ¡

$1,000,000

$700,000 Stays Local

$300,000 Goes to State

SLIDE 37

11/15/18 ¡ 37 ¡

$7,000,000 + In 10 years

SLIDE 38

11/15/18 ¡ 38 ¡

Who pays the 1%?

SLIDE 39

11/15/18 ¡ 39 ¡

12% ¡ 55% ¡ 21% ¡ 12% ¡ Distribu(on ¡of ¡who ¡pays ¡the ¡tax ¡ Residents ¡ Visitors ¡ Part-‑Time ¡Residents ¡ Ski ¡passes ¡etc. ¡

SLIDE 40

11/15/18 ¡ 40 ¡

Residents pay only12%

f total collected LOT

$2 per month per person

(includes all residents, adults and children)

SLIDE 41

11/15/18 ¡ 41 ¡

SLIDE 42

11/15/18 ¡ 42 ¡

Not subject to LOT

Clothing
Over the counter drugs
Medical equipment, services and RX
Food, food products and Beverages
Gas
Non-commercial heating fuel
Rent
Mortgage payments
Services*

SLIDE 43

11/15/18 ¡ 43 ¡

SLIDE 44

11/15/18 ¡ 44 ¡

Provide a reliable long-term source of funds Sustain the future of the Valley’s resources Support economic vitality Enrich the quality of life for all its residents.

We believe the FLO will

SLIDE 45

11/15/18 ¡ 45 ¡

Our Suggestion on How to Manage the MRV FLO

SLIDE 46

11/15/18 ¡ 46 ¡

How FLO Works

Establishes a new subcommittee of the MRVPD (the FLO Commission) to manage the FLO Fund. Transparent and accountable group representing the broad interests of Valley residents, towns, and businesses.

SLIDE 47

11/15/18 ¡ 47 ¡

7 Commissioners—
One appointed by each selectboard
One elected by each town’s voters
A Chair appointed by the MRVPD.
Oversee all of the 1% option tax receipts

/distribution

Develop and promote a grant program
Operate transparently as a subcommittee
f the MRVPD

We suggest a FLO Commission

SLIDE 48

11/15/18 ¡ 48 ¡

Vermont rules require that the MRVPD adopt a charter

Voters in all three towns will be asked to approve this new MRVPD charter and authorize a regional 1% Local Option Tax The vote will be by Australian ballot in all three towns

SLIDE 49

11/15/18 ¡ 49 ¡

Reserve Fund

Nimble $ source Unexpected opportunities Rainy day fund Requires 2/3 majority, all towns in affirmative, to spend reserve fund $

SLIDE 50

11/15/18 ¡ 50 ¡

Administration

Bookkeeping Grant administration Audit Maintain transparency and accountability

SLIDE 51

11/15/18 ¡ 51 ¡

Possible Criteria for Grants

Improve physical safety and/or quality of life Broad-based support, private, public and community Have funding sources – self-generated

r organizational

Weighted point scoring to ensure $ invested wisely Is compatible with MRV FLO Strategy

SLIDE 52

11/15/18 52

Potential Ways to Track Impact

Trail Counts Participation in programs Trends in MRV elementary school enrollment # of events held in MRV with attendance by event Mid-week and non-peak occupancy Tax revenues by sector

SLIDE 53

11/15/18 ¡ 53 ¡

Thank You for Your Time We ask for your Input & Support for moving the MRV FLO forward

GO WITH THE FLO

SLIDE 54

11/15/18 ¡ 54 ¡