HomeMy WebLinkAboutLansing Gateway (N. Grand River) and South MLK L
LENSING
Corridor Improvement Authority
Lansing Gateway ( North Grand River) and South MLK
Lansing
Economic
Development
1�1
LEAP UMCCorporation
Corridor Improvement Authority - Overview
. ❑Designed to assist economic development,
redevelopment and stimulate revitalization in
the established corridor.
k Wert■■ -
Corridor Improvement Authorities for North
- Grand River and S. MLK will become a legal
= =} entity whose sole purpose is to advocate for
- and make improvements to the corridor over
a long period of time.
r It will potentially capture increase in
t commercial property taxes to finance public
s s � improvement projects.
❑Creating the Corridor Improvement
�.
a Authority will NOT increase your taxes or
create a new tax.
What is Tax Increment Financing
'JOnce established, this Act
allows tax increment financing
to be utilized to capture the
Tax Increment yearly increase in commercial
> New 1qx Base
If the assessed values in the district taxes.
ncredse over time, the CIA con capture Revenues flow to
" fhow vaIu€:increoses to fund puhlk normal taring
improve men ls YAlhtn the Dislriel.
bodies Reinvest back into the corridor
LRwanues
Baw "=090
for public improvements
continue to ttcw to norml taxing oodles. Leverage other taxes a n d
funding sources to maximize
yelroDegodm TIME result
Steps to Esta is a CIA an Development & TIF P an
now
• Create an Exploratory Committee to determine the feasibility to establish a CIA
Part • • : • Present the case to create a CIA and Development District to Lansing City Council
the CIA • its • Hold public hearing
Boundaries • Council's approval to establish the CIA and its boundaries
• Appoint members to the board when Council approves to establish the CIA
Part II: • Create Bylaws
Od • Develop a Visioning Study for the Development District
Development arr,,; • Create a Development and TIF Plan
Tax Increment • Hold public hearing
Financing 9 Approval of bylaws and the Plan by Lansing City Council
Exploratory
Engage community
stakeholders
Determine the feasibility of �o®goo
T . creating a CIA .
Work with government
entities neighborhood and
business associations to
_r
gain support � � a k
Lansing Gateway (N. Grand River) S. MLK
Project Descriptions — Main Street Model
,,.
-e
Design Economic Restructuring Organization Marketing/Promotions
Public & alternate transport and Filling vacant buildings Health of overall collaborative Social center of the near
parking improvements Fagade improvement program residential neighborhoods
Streetscaping and placemaking Property infill development on Leader of the commercial corridor Strengthen corridor's image
Public gathering spaces vacant parcels
Connected, accessible and Strong and healthy business mix
walkable corridor
IF _
k
Lansing
Gateway CIA
Boundary
...I _ .. ~
c i
— - East on Waverly Rd (Franette Road) to
Old Town (Old US 27) on East North
Street with branches on North Martin
- +nvvi'owSt .. '�"NAEIVWSt ._ - - - - 1�r Luther King Blvd and Turner Road.
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Goals for the Lansing
Gateway CIA
` -J
Create a welcoming and inclusive -J
gateway to Lansing
Establish connectivity and accessibility
with Capital Region International -
Airport, Old Town and North Martin
Luther King Jr. Blvd
r
'Improve streetscape
A TASTE MAT
Revitalize empty buildings BRIGMR.
y
Traffic calming , -
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Develop programs to foster economic
activity and business development AL
-
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N4..__
L JJLWpp Rd
LJ
r-.0
I J I
South
1
' + I I J. ViJuily Pn
Boundary
From the railroad tracks south of
I
Victor Avenue to 1-96
IN
i�
.:
'4 �1
Goals for the South
IVILK CIA ~ `
Improve connectivity to adjacent
neighborhoods and Lansing downtown
❑Upgrade and beautify streetscape and -
landscape :,y s 4 . Jt_
Revitalize vacant spaces
T # �
Enhance transit non motorized - �-
transportation, and create safe
pedestrian crossing , : w
Develop programs and tools for t:
workforce development and business
attraction Y
4 `{
Next Steps
Li Establish the CIA and its boundaries
Appoint members to the Board
Complete the Visioning Study for the
Development District
Create the Development and TIF Plan
L Seek Lansing City Council 's approval
� M
Hannah Bryant
Lansing Economic Area Partnership ( LEAP )
hannah@purelansing . com
( 517 ) 702 - 3387 x 207
LEAP LuxCorporation
stronger together