Who Benefits From a Revitalized District?

Stakeholders Benefits
Merchants
  • Greater opportunity for growth and expansion
  • Expanded customer base
  • Less financial risk
Property Owners
  • Stable or higher rents
  • Increased occupancy rates
  • Improved marketability of property
  • Higher property values
Financial Institutions
  • Expanded business customer base
  • Expanded residential customer base
  • Improved public image and goodwill
  • Fulfillment of community reinvestment mandate
Professionals and Service Businesses
  • Ready-made customer base of district employees
  • Location near government, banks, post office, and other institutions
  • Nearby amenities for clients and staff
Chamber of Commerce
  • Potential new member businesses
  • Healthier overall business climate
  • Potential partnerships on joint projects
Residents
  • Local accessibility to goods and services
  • Opportunities for volunteerism and leadership development
  • Preservation of community for future generations
  • More employment opportunities
  • Stronger tax base to support other community aspects (schools, parks, etc.)
Local Government
  • Increased sales and property tax base
  • Protection of property values and infrastructure investment
  • Reduced cost of services, such as police and fire protection
  • Reduced pressure for sprawl development
Community Partners (CDCs, BIDs, civic clubs, historical societies, historic preservation organizations, religious institutions, senior citizens, arts groups, etc.)
  • Improved quality of life in the community
  • New membership potential among new residents
  • Achievement of common goals
  • Preservation of community history
Schools
  • Youth involvement in civic projects
  • Use of commercial district as "classroom" for school projects
  • Potential employment and business opportunities
  • More places to go and activities for youths
Businesses Outside the Commercial District
  • Increased visitor traffic to the community
  • Improved municipal services throughout community
  • Increased business from overall healthier economy
  • Additional amenities for employees and clients
Industry
  • Improved quality of life makes recruiting and retaining employees easier