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HomeMy Public PortalAboutTBP 2016-05-18N38WVH7 a3svbd )I?Jad UILNUA rZ OZ -un �aasYj10, u/\A0 a%o1 P P �;U as 7*4 I i aiepdn ivawd , OIDADC] :),IWOU033 2uiuueld :)i2@jejjS juior • Grand Profile • Economic Development Plan Process 'lev .��Fraser Val WINTER CHAMBER '� + Grand Profile • In 2013 the communities of Grand County came together to create the Grand Profile ® The Grand Profile was created with the following goals: — To create a comprehensive collection of economic data sets for Grand County — To evaluate those data sets for accuracy — To develop a way to update all of the data sets on an on- going basis so that the data is always current — To create mechanisms that allow local governments, business owners, organizations and individuals to have the ability to interact with the data collected M / VAAOR A D 0 HERE THE FUlNlBEGIRNS 1138WVH:) Ila svad )Iaad UINUA 014oad ssauisng a14oad juapisaa 9140M aanl:)nalse,ilul a1.4oad puejg a14oad ao}isin a14oad aleIs3 lean a14oad SuiSpo3 Grand County visitor experience of visitors, transactional leads, second home owners, and primary residents Grand County business climate as seen by current business owners/managers Grand County resident experience of second homeowners and primary residents 5,053 responses ® 206 responses 1,627 responses WINTER PARK ERASER CHAMBER j�f Grand Profile - www.grandprofile.org D Grwaf Noilik i County an. x <- --k (," ' 0 grandforbusiness.com/grandprofde/ �$! /r71 IL '►*'li\ Community & Economic Data for Grand County uai3 t> Lepm s Grand facts Request iniunnalion Upcoming Events OEr 03138 Ration to analym the Study raw eaU evotlnn Gfaphsand newest InlWmJtien 10 team nrore Ve'u cur calendar ofevents lor ouslnass community, like Chang and d SL OVbr unNtle WSW 55 about Merin' Old a Van3ble I ulflcE sbnlmars. M'DrYshops, and rn.—nit" Employment, Mlrastructum it Upaorrunitie, for uuilntlb3 da-lons. Qaalednys. - Demographics Starting in early 2014. a group that includes me Grana County Board of Commissioners. the county's Economic: Development Office, town managers from every town, area chambers of commerce. and other leaders started a data collection effort wiln the hopes of translating knowledge 4110 power h our community. By combining pubilcly-accessible information We census data and IaX records with on-Ihe-ground knovytedge o1 county residents and business owners, we hope to put together twin me 30,000 foot view or our county's economic drivers and Individual community proilles. Each will help our area's leaders make Infolmeo decisions about the future.. Be sure to check out the available Data Sets and the Grand Facts to find see this alfomiatlon in action Valley ' , ' WINTER PARK �� ERASER 'r'r a a BEGINSCHAMBER Project • Phase I: Create Research Baseline • Phase II: Community Input Mechanism esi• • Phase III: Preparation of Plan • ' WINTER �ZLFr400 ec-- � ERASER �' Economic D �4p� r x,o went Plan Process • The towns of Fraser and Winter Park came together in February of 2015 for a joint meeting to review the Grand Profile and identify opportunities within the data sets for the Fraser Valley • As a result of this joint meeting the two towns as well as the Chamber and Rec District came together to develop a strategic economic development plan • Strategic Economic Development Group, which included representatives of each town, the Chamber, and the Rec District, was created to develop a plan that could be implemented by both towns • The plan was to be developed specifically to include goals that could be achieved in a 3-5 year timeframe WINTER ser Valley Rec PARK _ t C -- -- _!_ --- - THE FUN BEGINSf RAS E R •''�'^�%� CHAMBER 0. Methodology ® Multiple mechanisms were considered for this project, with the committee settling on the following: ® Fraser Valley Strategic Economic Development Survey — Survey was sent to businesses and individuals in the Fraser Valley as well as posted on the Sky -Hi Daily News — 635 responses Stakeholder Interviews Traser a e RecJ� WINTER PARK_ _ WIIEXE THE FUN BEGINS CHAMBER • Framework • Goals • Overview • Progress • Next Steps '�LN�-er Valley RecVnNTER 10 RE THE FUN BEGINS FRASER C O L O R A D O Review of Framework • The towns and supporting entities of the Fraser Valley recognize that improving the quality of life in the valley is a key component of local economic vitality. This consideration is being addressed through community development efforts by the towns that include actions related directly to economic development, as well as peripheral actions that will further broad community objectives. This Strategic Plan anticipates that the economic development actions identified herein will be tied to other ongoing community development activities and that the communities will continue to plan and invest in ways that improve the communities for residents and visitors alike. • The towns and supporting entities of the Fraser Valley will work together to better use existing resources to further economic development opportunities. • The towns and supporting entities of the Fraser Valley will work together to develop effective metrics to evaluate each economic development goal and their respective actions as outlined in the Strategic Plan. These metrics will also extend to a commitment to I<eep the data of the Grand Profile up to date, as the Grand Profile. The metrics and updates are outlined for each goal in the respective Progress & Updates sections. Actions: • Continue joint meetings on a periodic basis to enhance communications and coordination. • Pursue opportunities for joint funding of initiatives with particular attention to the Actions identified in this Plan. N' Qi' Rec , f. PARK ERASER ti � � CHAMBER Enhance transit and multi -modal transportation Increase and expand access to broadband services throughout the Fraser Valley Increase housing opportunities for the current and future workforce at a variety of price points Nurture and grow the tourism industry Support existing businesses while also strategically recruiting businesses to the Fraser Valley WINTER PARK FRASER CHAMBER Enhance transit and multi -modal iO transportation *Sales tax initiative for transportation *Work to expand transportation by partnering with other entities *Assist in implementation of trails master planning efforts _ . ' • PARK13 • ,r�;\'�.�'- " Ci.c� .•�-�' � F RAS E R ,�1!'7+f. Enhance transit and multi -modal transportation • Sales tax initiative passed in November 3, 2015 election • Full-time transit operations commenced in November of 2015 with the Town as the operations provider. • The Transit Advisory Committee has reviewed service plans for Spring and Summer, with operations commencing at the end of April. • The Town has hired a full-time Transit Manager to accomplish the transit goals and tasks identified in their work plan. • The Town has acquired ten (10) transit coaches from RTD (Denver) that are currently being rehabilitated and will be operating on the road prior to the end of ski season. • Town of Winter Park received an $800,000 grant from the Colorado Department of Transportation for two (2) new full-size transit coaches and one (1) new smaller cutaway style bus, with delivery expected in mid -2018. Rec tPARK-� 4 _ r�ERASER '~ C> BEGINS Enhance transit and multi -modal transportation • Create Survey Mechanism to continually measure success and solicit community feedback • Evaluate Routes for efficiency and better service • Develop Marketing program and assets (eg. Map, app, etc) _ �Fr VJiNTER '15 +�{�_.)-�����+ • • �' • PARK Increase services and expand access to broadband throughout the Fraser Valley • Support for initiatives to create and expand broadband services within the Fraser Valley • The towns will undertake additional studies to insure the implementation of best practices • Explore public/private initiatives for funding • Consistent with local studies, the towns will initiate construction activities to create broadband services to be financially viable and efficient WINTER PARK Fraser Valley Rec WHERE THE FUN BEGINS FRASERCOILOHAUU-- k,, � S, • 'ti CHAMBER Increase and expand access to broadband services throughout the Fraser Valley • The Town has budgeted money in its 2016 Annual Budget for the purpose of developing a community broadband plan, and anticipates enlisting consultant services to construct the plan for the Town. • Chamber has added collaborative efforts regarding Broadband to the 2016 ED work plan • SB152 Passed in towns of Fraser and Winter Park Rec 17 LFr��� �.►.�i�c�ERASER .7 CHAMBER � � Increase and expand access to broadband services throughout the Fraser Valley *Allocate Staff resources to the development of a Broadband Assessment & Feasibility Study for Winter Park *Conduct Assessment and Feasibility Study t Fraser a Tz . WHERE THE FUN BLGINS CHAMBER Increase housing opportunities for the current and future workforce at a variety of price points • Winter Park and Fraser will work together on selected aspects of attainable housing issue • Town of Fraser will explore a needs assessment comparable to the 2015 Winter Park Needs Assessment • Collectively inventory and investigate vacant land parcels that might present opportunities for redevelopment or additional density • Encourage the development of workforce housing that is accessible via public transit • Encourage the development of additional rental units in an apartment configuration • Improve program implementation and management services for attainable housing, taking advantage of economies of scale. _ � 1 WINTER PARK19 r�- (� ERASER F_W7 � CNAhIBER Increase housing opportunities for the current and future workforce at a variety of price points Progress • The Town of Winter Park has successfully negotiated the construction of forty two (42) affordable housing units with the development of the Sitzmark South project. These units are anticipated to be under construction in May/ June of 2016, with turn -key delivery in mid -summer 2017. • The Town of Winter Park has hired a Housing Coordinator that will act as the Town's liaison for affordable and attainable housing operations into the future. The Housing Coordinator is also developing a long-term strategic plan for implementation of the Town Council's long-term housing goals, developing new eligibility criteria for potential attainable and affordable housing residents, identifying strategic partnerships for construction of units, and collaborating with Winter Park Resort and other providers to provide additional seasonal housing for our workforce. • The Town of Fraser has conducted an Attainable Housing Study WINTER Aft- Fraser Valley Rec 20 PRASER ,n; � � � CHAHBER Increase housing opportunities for the current and future workforce at a variety of price points • A Housing Coordinator for the Town of Winter Park is developing a long-term strategic plan for implementation of the Town Council's long-term housing goals, developing new eligibility criteria for potential attainable and affordable housing residents • Continue to identify strategic partnerships for construction of units including collaboration with Winter Park Resort and other providers to provide additional . W[NTER PARK21 r\ ERASER CHAMBER Nurture and grow the tourism industry • The Fraser Valley should capitalize on its proximity to RIVINP (In progress — 2015 Basecamp Initiative) • Partner with local trail and biking efforts, the Chamber, and other biking/trail entities to solidify position as the premier mountain bike destination in North America • Continue to evolve the events strategy to be consistent with the branding message, as well as to attract targeted visitor segments to enhance tourism, increase resiliency to weather and outside forces, and to expand the visibility of the Fraser Valley as a location for play and work. • Grow midweek and off-peak visitation to limit the impact of peaks and valleys within the business model • Invest in infrastructure to enhance the visitor experience • Focus on evolving the customer base beyond the traditional market segments Nser Valley WINTER _P_ARK "I, Rec C�1 PRASER L' -HERE THE FUN BEGINS CHAMBER Nurture and grow the tourism industry • 2015 RMNP Basecamp Initiative • Ballot initiative to remove sunset provision of 1% designated tax (pending voter approval) • New marketing firm to better align all marketing messages and assets • Additional & expanded events for 2016 Summer season • Divide Music Festival , , . ' WINTER23 PARK t. HERE THE FUN BEGINS GH4hIBE0. " Nurture and grow the tourism industry • Continue to attract outside promoters/ producers for events • Enhance community marketing assets (website, brand platform, etc) and Target potential guests based on analytics (eg. browser history, booking cycle, activity preferences, etc) • Continue efforts to expand brand presence of MBCUSA and Colorado's favorite Playground WINTER PARK 24 ERASER CHAMBER Support existing businesses while also strategically recruiting businesses to the Fraser Valley • Provide local businesses with information resources to encourage expansion and competitiveness. Insure that the towns have readily available information, including the available community data such as the Grand Profile, to explain and express support for businesses in the community • Designate a shared business development function/position within the Winter Park & Fraser Chamber to encourage the retention and expansion of existing employers in cooperation with, and funded by, the two towns. This individual would serve multiple roles on behalf of the Towns of Fraser and Winter Park, with responsibilities that include being a business resource, an advocate, and a dedicated individual within local government to align, oversee and implement economic development strategies as determined and prioritized by the respective Town elected officials. • Review existing regulations and fee structures in the communities to insure consistency with policy intent. Conduct a regular assessment survey of local businesses, built upon the Grand Profile, to gather information • Support efforts of local employers to obtain a trained and skilled workforce, while recognizing that this action requires continued attention to attainable housing (see Housing Strategy above) • Expand the Commercial Enhancement Grant Program in both communities with a targeted grant amount each year that is designed to grow the reach of the program from current levels • Continue to make downtown improvements in both Fraser and Winter Park to enhance the sense of community identity and a sense of progress and attention to quality • Implement the integrated brand platform through all messaging under business recruitment (see brand platform below) r 'e c u. CNAh18 ER Support existing businesses while also strategically recruiting businesses to the Fraser Valley • Develop cooperative relationships and cultivate a network of appropriate referral resources for emerging companies that includes basic industries from the Front Range such as marketing, finance, intellectual property and technology. This action is generally not intended to encourage relocation of these companies; rather, the strategic efforts will be directed at creating an awareness of Grand County as a lifestyle choice for growing companies and professionals, and particularly for the millennial age segment (aged 18 to 34 in 2015). The effort could include fostering the creation of appropriate work spaces, support services, and a refined brand message that could be something like, "You live on the Front Range, come play and work from the Fraser Valley" • Attract diverse employers that contribute to the overall quality of the communities • Recruit location neutral businesses and/or professionals • Initiate a program to use community events (i.e. concerts, cultural, sports, etc.) as a place for business recruitment • Identify missing retail or professional service companies and provide this information to residents and visitors using available sources to develop a list of target businesses • Coordinate efforts with those in the Grand County Office of Economic Development and local realtors/ commercial real estate owners to encourage publicity and use of the Grand County site selection tool to catalog available vacant land/store fronts • Implement the integrated brand platform through all messaging under business development (see brand platform below) c 26 -- � � � CIiAMBER Support existing businesses while also strategically recruiting businesses to the Fraser Valley • Develop an integrated brand platform focusing on business retention and recruitment. Messaging for business retention should stress the quality of life and business opportunities presented by the Fraser Valley. This message will be framed using information obtained from the community data source such as the Grand Profile stressing recreation, safety, locational advantages relative to other mountain towns, a small town lifestyle, a support business environment, etc.. Messaging for business recruitment should reinforce the Fraser Valley brand and identities of the towns of Fraser and Winter Park, as a means of communicating the quality of life, growth, opportunities and the shared vision for the region • Develop a consistent marketing message as part of the brand platform that stresses the quality of life and business opportunities presented by the Fraser Valley. This message will be framed using information obtained from the community data source such as the Grand Profile stressing recreation, safety, locational advantages relative to other mountain towns, a small town lifestyle, a support business environment, etc. • Create a shared website to promote business retention and expansion, as a new site targeting the Fraser Valley specifically and work with the Colorado Office of Economic Development and International Trade for business retention/expansion program support 6 T., FUN BEGINS WINTER RPARK r Valley r 27 .0 ERASER CHAF BER Support existing businesses while also strategically recruiting businesses to the Fraser Valley • Continuation of Grand Profile project to maintain data • Attainable Housing efforts • Expansion of Commercial Enhancement Grant Program • Creation of Young Professionals Group • Attraction of investors for Stitzmark properties and Beaver Village properties • DestiMetrics Program • Bi -Monthly Economic Newsletters • Continued collaboration with EDD, SBDC and other economic development groups A. ♦ I ♦ Rec t6c PARK , ERASER '� CNANBER Support existing businesses while also strategically recruiting businesses to the Fraser Valley Next Steps • Development of Business Brand Platform to implement additional specified strategies • Development of Business Brand Assets (website, print materials, etc) • Develop strategies and execute promotion of Business Brand in order to recruit new businesses Rec • a• PARK 29 ERE THE FUN BEGINS ERASER CHAMBER N ext •Recommendation St eps from RRC/EPS • ?he cawultant lean request and recammendatiorw: • Endorsement of the Plan by your organization • Formalizing with your staff efforts to male the Plan a part of work plans in 2015/16 and beyond • Anticipating a joint meeting to review progress within six months • Other: ���J' :F- Fraser Valley Rec WfNTER �I4PARK30 W14EXE THE FUN ` GINS ERASER ' '•~'.:� Recommendation from RRC/EPS _ A • Adoption of the plan by the Town of Winter Park, Town of Fraser, Fraser Valley Metropolitan Recreation District and the Winter Park & Fraser Chamber • Continued staff enhancements by the Town of Winter Park to execute provisions on the Plan • 2016 Winter Park & Fraser Chamber Economic Development work plan • Town of Fraser has submitted grant for Downtown Assessment • FVMRD Strategic Plan PARK31 WHERE THE FUN BEGINS -OR A D 0 CNAMBE0. Recommendation from RRC/EP • Endorsement of Winter Park & Fraser Chamber work plan • Bi -Annual convening of the Plan working group • Annual Joint Meetings • Bi -Annual Economic Newsletter &Economic Summit highlighting successes and efforts Rec �C�tPARK32 c 4140%1-lp ERASER CHAMBER Additional Priorities • Improve K-12 education opportunities • Improve access to quality healthcare in the Fraser Valley • Pursue advanced education opportunities for post -secondary students • Increase business recruitment • Increase the availability of early childhood education opportunities • Focus on creating a quality of life that is attractive to younger generations • Increase the availability of adult education opportunities • Increase the opportunities for seniors . WINTER ValleyPARK ERASER ly CHAMBErt e ►; . 7 '3{may ,• s �s >��, �'� � ,,..Ir .. � � t 1 ' j ✓. °i- .=T7��, w s n. -4 k, { e�� l�lYls' ` t�Oy • '�_ a r ..=�•. W . s� WINTER PARK FRASER CHAMBER Town of Fraser Housing and Development Study May 18, 2016 Presented by: Wendy Sullivan WSW Consulting Christine Walker Navigate, LLC Purpose of Study A.Define and Quantify Attainable Housing Needs B.Local Development Environment: 1.Development codes 2.Cost to “Develop” (different from “build”) a.FRODO specific (ownership) b.Other mountain communities (rentals) C.Local Housing Resources Housing Trends and Needs Housing Spectrum: 2015 What is “Attainable Housing” 30% of income for rent/mortgage Housing Needs Maximum Affordable Maximum AMI Range Sale PriceAffordable Rent <50%$115,700$780 50% to 80%$185,200$1,250 80.1 to 100%$231,400$1,560 100.1 to 120%$277,600$1,870 120.1 to 140%$323,900 Over $1,870 Over 140%Over $323,900 Key Trends Decreased local occupancy of homes Occupied Housing Units: 2000 & 2010 100% Grand CountyFraser % of Housing Units that are 90% 80% 65.9% 70% Occupied 60% 49.3% 46.6% 50% 40.3% 40% 30% 20% 10% 0% 20002010 Year Key Trends Majority Renter-Occupied Owner-and Renter-Occupancy: Fraser 2010 Owner- occupied Renter- 47% occupied 53% Key Trends 64% of Fraser workers live in the Fraser area; 40% of Fraser Valley workers live in the Fraser area. Distribution of Jobs and Households in Grand County: 2010 % of Jobs or Households in 60% % of Jobs% of Households 48% 50% Grand County 40% 32% 31% 30% 25% 24% 16% 20% 12%12% 10% 0% Zip Code Area Key Trends Rents are rising; Vacancies are dropping; Fewer units were available this ski season; Low comparative turnover this spring. Available Rentals by AMI Affordability: August 2015 Maximum Units Available Affordable Rent <50% AMI$7800 50-80% AMI$1,2502 80-100% AMI$1,5606 100-120% AMI$1,8702 Over 120% AMIOver $1,8703 TOTAL-13 Key Trends New housing product is NOT being built for locals: 15% of homes built since 2000 are owned by persons • with a local address; 13% of homes valued over $350,000 are owned by • persons with a local address; Locals compete with second homeowners at all price • points (unique). Development Environment Downtown Fraser Mixed-Use Block (FRODO) FRODO Development Costs ResidentialPer Sq. FtPer Unit Land Acquisition$540,000 $23 $28,000 Soft Costs$800,000 $34 $42,000 Hard Costs$6,190,000 $262 $326,000 Financing Costs $190,000 $8 $10,000 Sales Costs$300,000 $13 $16,000 Owner's Contingency (10%)$820,000 $35 $43,000 TOTAL$8,840,000 $375 $465,000 Development Cost Comparison Construction CostsDevelopment Costs UnitsPer Sq. FtPer UnitPer Sq. FtPer Unit FRODO Pro forma19$227 $280,000 $375 $465,000 Pinewood II45$229 $144,000 $393 $248,000 Huron Landing26$227 $187,000 $476 $392,000 Sitzmark*42$230 $225,000 $359* $350,000 *Costs for Sitzmarkare estimated from inputs provided by the town of Winter Park for 42 attainable condominium rentals. Development cost per square foot shown for Sitzmarkis conservative. Concessions other communities make for Attainable Housing Provide land • Secure long-term funding source (various taxes, • impact fees, voluntary transfer fee) Offer In kind services (management, financial, legal) • Make Infrastructure upgrades (sidewalks, • water/sewer main improvements, parking, roads) Waive fees (building, development, water/sewer • hookups) Facilitate financing mechanisms (bonds, COPs, • LIHTC) Recommendations Recommendations There is no “silver bullet” A.Strategic housing plan/program 1.Goals and objectives –community vision 2.Strategy prioritization 3.Regular program evaluation B.Housing and program management 1.Build capacity to develop and oversee housing 2.Includes staff commitment, partnerships and collaboration Recommendations C.Development Code Amendments to Encourage Attainable Housing (“Open for Business”) 1.Reduced development standards for attainable housing (parking, set backs, etc.) 2.Fee waivers for attainable housing (development, building, driveway permits, etc.) 3.Attainable housing density bonuses 4.Streamlined process 5.Permit on-site employee housing 6.Zone for density where wanted 7.Clear annexation policies (fees, units) 8.Development agreements (fees, units) 9.Possible Inclusionary Zoning (long-term) Recommendations D.Accessory Dwelling Unit Amendments 1.Permitted use, reduced size, decreased requirements for attainable rentals E.Upgrade Town Infrastructure F.Preserve and Upgrade Existing Resident Housing 1.Mobile home parks (and/or tiny homes) 2.Buy-down program/rehab (land bank opportunity) 3.Sweat-equity/Fixer-upper programs (Habitat, etc.) Recommendations G.Affordable Housing Fund with Dedicated Revenue Source 1.Real estate transfer assessments 2.Linkage fee 3.Sales/Property taxes H.Utilize Town-Owned Land for Workforce Housing I.Adopt Workforce Housing Guidelines 1.Define what attainable housing is for the town and developers Questions? -Thank You - Questions? -Thank You - Key Trends Housing in Fraser is not affordable… Average Sale Price Income needed to afford average home Median household income (County) Average wage (County) $450,000$350,000 Average Single Family Home Sale Price $427,000 $400,000 $300,000 Household Incomes and Wages $350,000 $250,000 $300,000 $200,000 $250,000 $200,000 $150,000 $198,200 $150,000 $100,000 $115,000 $100,000 $78,000$78,000 $50,000 $50,000 $53,500 $31,600$31,600 $0$0 Single FamilyMulti Family Public Sector Costs ResidentialPer Sq. FtPer Unit Real Estate Broker$278,000 $12 $14,632 Owner's Representative$195,000 $8 $10,263 Surety Bonds$54,000 $2 $2,842 TOTAL$527,000 $22 $27,737 Cost Saving Measures Potential Reductions in Residential Per Sq. Ft Per Unit Development CostsPortion(23,600 total)(19 total) Purchase the land$540,000 $23 $28,421 Waive water/sewer plant fees$289,000 $12 $15,211 Sell units or partner with GCHA$275,000 $12 $14,474 Provide construction financing$180,000 $8 $9,474 Build duplexes to remove fire $165,000 $7 $8,684 sprinklers In kind services*$100,000 $4 $5,263 Install public easement $60,000 $3 $3,158 improvements** Streamline entitlement process$50,000 $2 $2,632 Waive Use Tax (4%)$48,000 $2 $2,526 Waive planning/building permit fees$26,000 $1 $1,368 TOTAL POTENTIAL REDUCTIONS$1,733,000 $73 $91,211 *This includes legal, construction material staging, site preparation, hauling, etc. **This includes sidewalks, landscaping, and exterior lighting within the street front easement.