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4.2.3 Host an investment forum in the community. <br />The Downtowners should collaborate to conduct an investment forum in the community for <br />potential investors.This forum can provide potential business owners with a profile of the <br />market in Ellensburg,available properties in the community,guidance on support services <br />available to potential businesses through a variety of partners.The event should last no longer <br />than two hours,offer refreshments,and give a brief overview of the following: <br />•Representatives of the Downtowners should present findings of this market study and <br />recommendations. <br />•City staff can share the support services that the City of Ellensburg can provide. <br />•Ellensburg Downtown Association can discuss its program of work and assistance. <br />•Private Sector Property Owners/Commercial Real Estate Representatives should provide an <br />overview of the space available in Ellensburg,a brief synopsis of leasing basics,and if <br />possible,any incentives they have to promote local business. <br />•The Kittitas County Chamber of Commerce and the Ellensburg Business Development <br />Authority can provide information on the overall economy of the county,services provided <br />by each group,and resources for business start ups. <br />•The Small Business Development Center and/or a SCORE Association chapter should <br />provide information on business plan support,start-up assistance,and additional services <br />they provide.Ideally,the organizations should promote a follow-up consultation day in <br />Ellensburg so attendees can sign up for appointments. <br />•Existing businesses should provide an overview of their personal experiences doing business <br />in downtown Ellensburg (with a focus on the positives and helpful hints). <br />The Downtowners should leverage these partners to help promote the event.The goal is to reach <br />out to anyone interested in investing or starting a business in Ellensburg. <br />4.2.4 Create an investment "club"for Ellensburg <br />Ellensburg should also explore a funding program that could incorporate a modest return on <br />investment for participating in an investment club for buildings and sites in the community.The <br />JOBS Act,signed into law by President Obama,requires that the SEC create some parameters <br />for this type of investing.The SEC has just released those parameters.There is also nothing to <br />preclude local investors to create a more traditional investment program or a property renovation <br />company with the expectation that there will be a return on investment to the partners.In some <br />cases these operate independently of the city an in others there is a partnership structure to <br />implement a plan such as this. <br />It is important to understand that this funding recommendation is designed to augment existing <br />funding options that vary from traditional bank financing to state and federal tax credits.Any <br />investment fund is best used to leverage other financial tools available for a project. <br />33