| 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
|
