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Partners in the Built Environment

Private Developers. Public Sector. Partners in the Built Environment. Community. Capital Markets. Development Community. Public Sector. Site Specific Creator / Builder Short Term View Profit / Market / Reputation In-Tract Infrastructure. Big Picture Visioning

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Partners in the Built Environment

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  1. Private Developers Public Sector Partners in the Built Environment Community Capital Markets

  2. Development Community Public Sector • Site Specific • Creator / Builder • Short Term View • Profit / Market / Reputation • In-Tract Infrastructure • Big Picture Visioning • Overseer / Occasional Builder • Long Term View • Safety / Equity / Predictability • Trunk Infrastructure Capital Markets • Macro & Micro • Analyzer / Gate Keeper • Medium Term View • Marketability / Risk • Money

  3. The Public’s Role in a Public-Private Brownfield Partnership N N What’s Different?

  4. MLK Blvd. N Colorado Blvd. Park Hill Golf Course Union Baptist Church Community Input and Buy In are Critical Overlook at Park Hill Dahlia Street 33rd Ave. Stovall Senior Center (vacant) 35th Ave.

  5. Breaking the Cycle of Blight… The Public Owns the Problem

  6. SOURCES of DEBT REPAYMENT – $8.26 million SOURCES of FUNDS – $13.27 million USES of FUNDS - $13.27 million • Acquisition - $2.035 million • Harris Property ($1.67m) • US Bank Loan • Denver Health Rent Equivalent • OED Loan • Taylor Property ($164k) • Hysaw Property ($201k) Denver Health Rent $56,000 City / HUD Grant $3.5 million • Relocation - $506,000 • Dahlia Shopping Center ($276k) • HC Peck ($55k) • Denver Health ($100k) • Gas Stations ($75k) (4) Land Sale to Developer $3.76 million (3) HUD Section 108 Loan $7.5 million Denver Health / CCD Clinic Payments $4.5 million • Abatement & Demolition - $1.1 million • Dahlia Shopping Center ($1.072m) • Gas Stations ($30k) CCD Program Income Loan (2) $1.1 million (1) PCI Soft Costs & Interest - $630,000 HUD Companion EDI Grant $465,000 • Land Remediation - $4.0 million • Landfill ($3.2m) • Gas Stations ($127k) • Cost Cap Insurance Reserve ($619k) • PLL Insurance Reserve ($50k) EPA Brownfields Grant $200,000 • Sewer Pipe Installation - $500k • Earthmoving / Landfill ($100k) • Pipe Construction ($400k) CCD Public Works Sewer Fund $500k • New Denver Health Clinic - $4.5 million • Site Costs ($1.3m) • Core and Shell ($1.125m) • Tenant Finish ($2.08m)

  7. When Leveling the Playing Field isn’t Enough

  8. When government helps close a financial gap, it: Acts as a Market Catalyst Addresses a Market Failure Enhances Market Outcomes Makes It Happen Sooner Makes It Happen Makes It Better • Market / Use Mismatch • Environmental Contamination • Lack of Infrastructure • Reduces Risk of Pioneering • Signals Political Importance • Neighborhood Amenities • Affordable Housing • Historic Preservation • Place-making Amenities Creates Enhances Accelerates Public Revenues Environmentally, Economically, and Socially Sustainable Communities Public Benefits of Reinvesting in Brownfields

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