R2023-148 and Eexecuted SS Grant Contracts

Home Browse Search

4.2.3 Host un investmentforum in the community. The Downtowners should collaborate to conduct an investment forum in the community for potential investors. This forum can provide potential business owrlers witir a profile of the market in Eliensburg, available properties in the community, guidance on suppoft sewices available to potential businesses through a variety of partners. The event should last no longer than two hours, offer refreshments, and give a brief overview of the following: s Representatives of the Downtowners should present findings of this market study and recommendations. " City staff can share the support services that the City of Eliensburg can provide. . Ellensburg Downtown Association can discuss its program of work and assistance. r Private Sectot'Property Owners/Commerciai Real Estate Representatives should provide an overview of the space available in Ellensburg, a brief syriopsis of leasing basics, and if possible, any incentives they have to promote local business. n The Kittitas County Chamber of Cornmerce and the Ellensburg Business Development Authority can provide information on the overall economy of the county, services provided by each group, and resources for business start ups. c The Small Business Development Center and/or a SCORE Association chapter should provide infolmation on business plan support, starl-up assistance, and additional seruices they provide. Ideally, the organizations should promote a follow-up consultation day in Ellensburg so attendees can sign up for appointments. * Existing busines$es should provide al1 oycrview of theirpersonal experiences doing business in downtown Ellensburg (with a focus on the positives and helpful hints). The Downtowners should leverage these parlners to help promote the event. The goal is to reach out to anyone interested in investing or starting a business in Ellensburg. 4.2,4 Create an investment "club" for Ellensburg Ellensburg shouid also explore a funding program that could incorporate a modest return on investment for participating in an investment club for buildings and sites in the community. The l"'' *t'i. ;il ;i t"*.,'"s il $ilil*;;il;;;;;;;. p*;;;" ii'# i'?." ffi;; ; preclude local investors to create a more traditional investment program or a property renovation company with the expectation that there wiil be a return on investment to the partners. In some cases these operate independently of the city an in others there is a partnership stmcture to implement a plan such as this. It is important to unclerstand that this firnding recommendation is designed to augment existing funding options that vary fi'om traditional bank financing to state and federai tax credits. Any investment fund is best nsed to leverage other financial tools avaiiable for a project. 33