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4 2 3 Host wr lnvestnmi forumm in the nom munity. <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 EIlensburg, 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, oiler refreshments, and give a brief overview of the following: <br />Representatives of the Downtowners should present Endings 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 />poss<'ble, any incentives they have to promote local business. <br />• The, Kittitss 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 stark 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 />4.24 Chnee arm lnv+esdmAt "club"forEMemburg <br />Ellensburg should also explore a funding program that could incorporate a modest return an <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 bo augment existing <br />funding options that vary firnn 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 <br />