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Ansonia - Highest and Best Use Analysis

Ansonia - Highest and Best Use Analysis

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Published by: ValleyIndyDotOrg on Nov 19, 2012
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12/04/2012

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HIGHEST AND BEST USE ANALYSIS
Our Highest and Best Use Analysis is based upon the previous work completed including:
Review of existing Plans and Documents
 Assessment of the Current Status of Economic Development in Ansonia
Information Interviews with state, regional and local contactsin both the public and private sectors
Feedback from Public Meeting #1
Inventory of Businesses categorized into major sectors
Determination of the Market Area for Ansonia
Description of Real Estate Trends and Analysis of Downtownand adjacent areas and Industrial Parks
 Analysis of the Demographic and Economic factors underlying Ansonia
Determination of Market and Customer Segmentation for AnsoniaThis analysis includes evaluating the retail gap in terms of theamount of square footage supportable, and an assessment of allpotential uses in terms of sustainability. In summary, the Highestand Best Uses are as follows:Retail
Home Furnishing Stores
Electronic And Appliance Stores/Toys and Games
Building Materials and Supplies Dealers
Specialty Food Stores
Clothing and Shoe Stores
Restaurants/Entertainment
Jewelry, Luggage and Leather Goods Stores
 Warehouse Clubs/Superstores
Office Supplies, Stationery and Gift Stores
Pet Supplies
 
Industrial/Warehouse/Flex/Specialized Needs
Research & Development
Light Manufacturing/Assembl
Precision Manufacturing
Businesses that Supply the Aerospace/Defense Industries
Back Office Operations/Storage
Data Centers
Community College/Educational-Training FacilitiesOffice
Medical Office and Healthcare UsesResidential
 Apartments as part of Mixed Use Development
 Artists Lofts—Live-Work Spaceplus Commercial Arts Space Attached separately are three spreadsheets that show five-yeardetailed projections of potential business (and residential) attractionfor each of the uses shown above. Separate spreadsheets identify the“Most Likely” scenario (worksheet #1), a “Conservative” scenario(worksheet #2) and an “Aggressive” scenario (worksheet #3). Eachspreadsheet indicates for Year 1, Years 2-3 and Years 4-5
Number of Businesses Attracted (excludes apartments)
Number of Square Feet (SF)
Number of Direct Jobs
Number of Total Jobs (including multiplier effect)For the Most Likely Scenario, the bottom line summary is as follows:
 Year1 Years2-3 Years4-5
Businesses
94716
SF
49,750317,450152,500
Direct Jobs
131460282
Total Jobs
181628408
 
BRANDING
 A “brand” creates an image, a perception, an inspiration, a lifestyle.It imparts a sense of what a place is all about in only a few words. Itestablishes this in the “minds eye” of the viewer or listener.Our branding recommendation for Ansonia combines historicauthenticity, energy and community spirit:
 ANSONIA
The Spirit of 
 Yankee Ingenuity
This brand builds on the illustrious past history of Ansonia andleverages it for both the present and the future. It establishes Ansonia as a place for entrepreneurs, unique businesses and others,as well as residents. Additionally, it taps into and magnifies theessence of community spirit in the City of Ansonia. Bringing this alltogether in a few words is the essence of what this brand will do forthe City of Ansonia. Additionally, this brand will be a key part of the business attractioncampaign to bring new businesses, developers and residents to town.
 ACTION STEPS
These recommendations include immediate actions to show progressas well as longer terms strategies for success toward the
goal of making Ansonia a vibrant community where peoplelive/work/play
:
 Announce completion of Strategic Economic DevelopmentPlan, Key Recommendations and Next Steps, to demonstrate follow-through
Develop an inventory of all available properties in Ansonia andmake this available on the EDC Website
Specify the incentives available through the Route 8Enterprise Corridor Zone and display this on the EDC Website
Establish a Tax Increment Financing (TIF) program toencourage business attraction and expansion within the City anddescribe this on the EDC Website; and as part of the review process,confirm the potential recipient’s projected financial viability over theterm of the TIF

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