FALL 2008

Phoenix Project Makes Great Strides
The Phoenix Project, established in 2004, is a public-private partnership that is investing millions of dollars in redevelopment activities in the greater Fairview neighborhood, located in the city of Dayton. This urban neighborhood is home to Good Samaritan Hospital, one of the area’s largest employers, and an institution that has served families in the greater Dayton area for over 75 years. Over the last decade, the neighborhood surrounding the hospital had begun to decline and the impact of predatory practices and high foreclosure rates destabilized the housing market. The hospital was very concerned about the impact these declines had on its ability to recruit and retain staff, obtain patients, and protect the safety of visitors to their facility. This concern was shared by leadership of the City of Dayton who believe strong neighborhoods are vital to the city’s overall health and growth opportunities. The Phoenix Project is a partnership between Good Samaritan Hospital, the City of Dayton, residents of the Phoenix area and CityWide Development Corporation, all whom have a stake in the revitalization of the Fairview neighborhood. As project manager, CityWide Development is responsible for the implementation of the project’s Strategic Plan, which includes acquiring property, building new housing and creating a new civic space, known as Fairview Commons.
continued inside...

Phoenix Project Makes Great Strides
continued
Neighborhood Development Director George Snyder explains, “Much of the work that has gone on so far focuses on the civic and social aspects of community development, things you can’t necessarily see. Great strides have been made in reducing crime through community policing, strengthening neighborhood groups through community organizing and providing new opportunities for youth. Fairview has become a stable neighborhood filled with supportive residents.”

PROGRESS ON THE INTERIOR
On the inside, many projects are beginning to take shape, including the construction that is soon to begin on Fairview Commons and the new Fairview PK-8 Dayton Public School. The school will be situated at the center of the neighborhood and will be part of the Commons, which will serve as multi-use, park-like area for residents and will be connected by walkways to Good Samaritan, the City of Dayton Park and Pool and new housing. Along with the Commons, CityWide has been aggressively working to purchase dilapidated properties. These properties are being cleared to make way for the new school and the construction of new housing. There are also financial incentives to encourage existing residents to fix up their homes and for those looking to purchase a home in the area. Good Samaritan has also created a special benefit for their employees known as “Home Choice” to encourage their investment in the community. Recently, the Phoenix Project was awarded tax credits from the Ohio Housing Finance Agency. These funds will allow the project to implement the first phase of its housing initiatives: the construction of 33 lease-purchase single family homes. These homes are designed to help working families achieve homeownership while building their personal assets. The Phoenix Project is a long-term effort to improve this northwest Dayton neighborhood. With a brand new school, the Fairview Commons and new housing opportunities, the neighborhood is well on its way to becoming a thriving part “The Salem and Catalpa Gateway shows the community that they are truly entering an area that is improving,” says Snyder. “The goal is to change the perception of these neighborhoods and make the entire community more welcoming and attractive to visitors to the neighborhood and Good Samaritan Hospital.”
The red areas indicate the areas of concentration of the Phoenix Project. The asterik marks the Gateway.

residents representing the surrounding neighborhoods of Dayton View Triangle, Fairview and Sunnyview-Catalpa Park. The Gateway was officially dedicated on October 14th and should be completely finished by the end of the year. The three corners were longstanding community eyesores, but have now been transformed into a place of beauty. With wrought iron fencing, attractive brick columns, period lighting, and native trees and flowers, this new green space is a symbol of community revitalization.

SALEM GATEWAY WELCOMES VISITORS
One of the first visible signs of change created by the Phoenix Project is nearing completion at the intersection of Salem Avenue and Catalpa Drive, the south entrance of the Fairview neighborhood. The gateway was designed by Envisionworks and a team of

of the greater Dayton community. For more information on this project, or to inquire about loan options and incentives in the Phoenix area, contact George Snyder, Director of Neighborhood Development for CityWide Development at (937) 853-2535 or visit www.phoenixprojectdayton.org.

Fresh Face for a Dayton Treasure
Jay’s Seafood restaurant has been an icon in Dayton since the 1960s. Jay’s is located at 225 East Sixth Street in the historic Oregon District, allowing for easy access from nearly anywhere in Dayton. Visitors to Jay’s enjoy the antique ambiance, superior service, and above all, the best seafood in the region. In fact, in order to ensure that the food is always of the highest quality, Jay’s has fresh fish and shellfish flown in four times a week from Boston, Massachusetts; Portland, Oregon; Florida; and Lake Erie. The restaurant was originally an 1862 grist mill, and since has undergone many transformations. Just recently, after years of withstanding weathering, Jay’s was ready for a fresh coat of paint. To help brighten the restaurant and maintain its place as a premier Dayton dining location, Jay’s worked with CityWide Development to secure the necessary financing to complete the painting project. “Some people may not know it, but Jay’s Seafood was one of CityWide’s first ever loans back in the 1970s,” said Brian Heitkamp, CityWide Economic Development Director. “Having Jay’s as part of the Dayton business community is a tradition here, and CityWide is happy to help keep this local treasure looking its best.” Jay’s Seafood is open Monday – Thursday, 5 – 10pm; Friday and Saturday, 5 – 11pm; and Sunday 5 – 9pm. During December, Jay’s also holds special holiday hours at lunchtime, from 11:30am – 2pm daily. For more information on Jay’s Seafood restaurant, visit www.jays.com.

Construction of Tech Town’s Creative Technology Accelerator (CTA) is Underway!
CityWide President Steve Budd welcomes Ohio Governor Ted Strickland to the Tech Town site. Construction begins at the Tech Town site.

The construction of Dayton’s Tech Town has been much anticipated, and now visible progress can be seen. The development’s first building, the CTA, recently celebrated an important milestone: all steel framing was completed, paving the way for floors, walls, ceilings, and stairwells to be put into place. According to Messer Construction, project manager at Tech Town, the exterior of the building should be framed and closed before winter, keeping the project on schedule for a mid-2009 opening. The project continues its movement into the future with support from partners including CityWide and the City of Dayton. The 45,000-square-foot CTA building is already 100% leased. Future occupants include the Institute for Development and Commercialization of Advanced Sensors Technology (IDCAST), Weston Solutions, Inc., and the Dayton RFID Convergence Center (DRCC). Led by the University of Dayton, IDCAST will be the anchor tenant in the CTA. Pennsylvania-based Weston specializes in sustainable solutions for environmental restoration, property redevelopment, green building, and clean energy. Rounding out the CTA occupants is DRCC, an economic development organization that aims to attract and develop RFID-based businesses. The next steps in the Tech Town development involve the demolition and removal of the remaining structures on the property. Designers from The Architectural

Group will also continue to develop models for the next phases of building. In addition, some landscaping will be installed as construction moves ahead. Finally, reservations are currently being taken for the CTA’s companion building, with construction set to begin during summer 2009. Recently, Ohio Governor Ted Strickland visited the Tech Town site at the request of Dayton Mayor Rhine McLin. Governor Strickland was on hand to review the status of the project and to discuss the City’s request for $3.5 million towards the construction of the next building. The Governor enjoyed meeting the CityWide and City of Dayton team members and expressed his support in the continuance of Tech Town’s expansion. Tech Town offers a unique technology support system that emanates from business, academic, and military uses. Businesses and local universities contribute even more to the research and development going on at the base. As a result of serving as collaboration facilitator, Tech Town further strengthens Dayton's role as a technology leader. For more information on Tech Town, please contact Norm Essman, Redevelopment Director, at (937) 853-2529 or nessman@citywidedev.com.

The CTA is the first of 10 buildings at Tech Town and is expected to open mid-2009.

Blooming in Dayton’s Business Community
Mark Brueninghaus knows that flowers can say a lot when words just aren’t enough. That’s why he opened The Flower Shoppe in the Genesis neighborhood. Brueninghaus has over 20 years of experience in the floral industry and in 2003 he decided to follow his dream of opening his own floral boutique. As a growing Dayton business thriving on word-of-mouth referrals, The Flower Shoppe is known for its trendy, elegant, and creative floral designs. Services include fresh cut arrangements and blooming plants for a variety of occasions, with an emphasis in weddings and special events, as well as funerals, birthdays, home décor, and more. Active in the Dayton community development scene, Brueninghaus is a member of the Rubicon Park Business Association, a group of business leaders focused on issues such as traffic, crime, and attracting new businesses within the Genesis neighborhood. This neighborhood revitalization project consists of partnerships between the University of Dayton (UD), Miami Valley Hospital, the City of Dayton, and CityWide Development Corporation, and it aims to spur redevelopment in the areas around UD and the hospital. Knowing CityWide’s commitment to the Genesis project and the availability of the Neighborhood Business Assistance Program (NBAP), Brueninghaus was able to secure a low-interest loan that allows him to fully acquire the Brown Street retail shop. Brueninghaus believes that his flowers bring style to all of his clients’ special occasions. And, his newly renovated retail space, made possible by the NBAP program, is evidence of his unique and stylish twist. As business continues to grow, Brueninghaus intends to upgrade at least two part-time positions to full-time, as well as add another part-time employee to handle increasing demand. The Flower Shoppe is located 1132 Brown Street. For more information on The Flower Shoppe, visit www.theflowershoppe.com or call (937) 224-7673.

Business Incubator Propels Dayton into the Future
In 2007, the Dayton City Commission approved a $1.4 million, four-year agreement with CityWide Development to create the for-profit Dayton Radio Frequency Identification (RFID) Convergence Center (DRCC). This business incubator will provide start-up assistance to RFID, sensor, and data management and mining technology businesses. The DRCC is part of a regional effort to secure Dayton’s place as an international leader in the emerging RFID industry, creating at least 100 jobs at an average salary of $80,000 just on its own. As one of Tech Town’s Creative Technology Accelerator tenants, DRCC will be seeking up to 20 companies to locate within the program at Tech Town and take advantage of the $6 million state-ofthe-art facility. As a business incubator, the DRCC will host and support new RFID companies that may not yet have the financial or infrastructure capabilities to stand alone right away. The DRCC will offer resources such as lab space and access to engineers and other professionals, allowing companies to focus on their business and technologies as they grow. Once companies are ready to move on from the DRCC, they will have the opportunity to locate permanently in Dayton, potentially bringing hundreds more technology jobs to the region’s economy. The RFID industry is an emerging technology field that has the ability to track nearly anything, including inventories, animals, and pharmaceuticals. RFID is poised to replace barcode technology in widespread commercial applications. The Dayton region, with the location and commercial and technical capital considered necessary to establish an industry hub, looks forward to being on the leading edge of future RFID advancements.

Tough Times? CityWide Can Help!
In the current economy, businesses are reporting that it is becoming more and more challenging to secure financing for projects and for growth. The economic development team at CityWide understands these challenges and is eager to provide alternative financing opportunities. Now, more than ever before, thinking outside the box can help get deals done. Partnering with CityWide allows for flexible financing structures that typically require less equity injection from the business and lower credit exposure for the senior lending institution. Lenders are finding that by working in tandem with CityWide, they can deepen their long-term relationships with current customers by using economic development dollars as a source of funds, creating a win-win for the lender and the borrower. To discuss gap financing structures to further a potential project, contact Brian Heitkamp, Caitlin Bortolotto, or John Krebs or visit our website at www.citywidedev.com/financing.cfm
ENTERPRISE OHIO I N V E S T M E N T C O M PA N Y ( E O I C ) NEIGHBORHOOD BUSINESS A S S I S TA N C E P R O G R A M ( N B A P )

(e.g. banks and credit unions) and Certified Development Companies, like CityWide. Typically financing 40% of a project, the SBA 504 generally requires only 10% down payment of equity from a company or a business owner. Interest rates are fixed for either 10 or 20 years.

The CityWide Economic Development Team
Steven J. Budd,
President sbudd@citywidedev.com (937) 853-2547

Brian Heitkamp,
Economic Development Director bheitkamp@citywidedev.com (937) 853-2533

The NBAP program is offered to City of Dayton businesses with annual revenues below $1,500,000. NBAP loans are able to fill gaps up to $50,000 with low fixed interest rates of 5% and as low as 3% in targeted corridors. This program can be utilized to finance real estate acquisition, new construction, and renovation; business acquisition and mergers; machinery and equipment acquisition; and working capital.

Caitlin Bortolotto,
Business Development Officer cbortolotto@citywidedev.com (937) 853-2563

John Krebs,
Business Development Officer jkrebs@citywidedev.com (937) 853-2561

EOIC provides capital in wide array of creative
CITYWIDE DIRECT LOAN PROGRAM

lending alternatives to area businesses. It is our most flexible program, offering the potential to fill gaps in various scenarios that secure financing for projects and for growth. Loan structures could include mezzanine debt, subordinated debt, and the availability of equity capital.

Steve Nutt,
Strategic Development Director snutt@citywidedev.com (937) 853-2539

City of Dayton businesses can take advantage of the Direct Loan program for a variety of projects, including real estate acquisition, new construction, or renovation; business acquisition and mergers; machinery and equipment acquisition; and working capital. Benefits of the program include a low down payment, reduced interest cost, no prepayment premium, and quick turnaround time on the approval process.

Janet A. White,
Housing and Economic Development Services Director jwhite@citywidedev.com (937) 853-2541

WELL FIELD PROTECTION FUND LOAN PROGRAM

Companies located on the Well Field Protection Area are able to
SBA 504 LOAN PROGRAM

Carolyn Henn,
Marketing Coordinator chenn@citywidedev.com (937) 853-2543

obtain loans that are forgivable or with 0% interest. Projects or businesses that reduce or abate risk to the groundwater supply via chemical inventory reduction or environmental remediation and protection would qualify.

Companies in the Dayton region can take advantage of great savings by leveraging the benefits of the SBA 504 program, a unique lending partnership between conventional lenders

www.citywidedev.com

www.citywidedev.com

8 North Main Street Dayton, Ohio 45402

www.citywidedev.com

Sign up to vote on this title
UsefulNot useful