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Report on Proposed New Economic Development Organizations for City of Los Angeles Now Available

 

HR&A Advisors, Inc. was engaged in late 2012 by the City Administrative Officer and Chief Legislative Analyst of the City of Los Angeles to analyze and recommend a new approach to citywide economic development following the State-mandated elimination of the Community Redevelopment Agency of Los Angeles throughout California and the lingering effects of the Great Recession. HR&A led a team that included ICF International and Renata Simril, and presented its recommendations to the City Council’s Ad Hoc Committee on Economic Development Structure in December 2012.

 

The report recommends a new public-private structure for delivering economic development services in Los Angeles, including strategic planning for growth, real estate-related services, and business and industry-related services. The new model would include a new Economic Development Department (EDD) to consolidate certain economic development functions from existing City entities, and a new, nimble, independent Citywide Economic Development Nonprofit partner operating under a contract with the EDD. Once operational, this proposed structure would provide the organizational platform required for the City to create new jobs, attract new business and industries, remain competitive on the global stage in the 21st Century, and increase General Fund revenues.

 

The recommendations presented in the report are based on the HR&A project team’s analysis of interviews with more than 80 key stakeholders involved in economic development throughout Los Angeles, General Managers of City departments, business leaders, nonprofits, developers, and community-based organizations; an online survey sent to an additional 130 local stakeholders; detailed analysis of department and agency budget documents, supplemented by additional interviews with department and agency management; review of ongoing work by local universities and non-profits; and detailed case studies of eight U.S. cities with high-performing economic development organizational structures.

 

Read our report here.

HR&A Analysis Supports Tech Growth in Brooklyn Tech Triangle

 

HR&A is leading real estate and economic analysis as part of a team led by WXY Architecture + Urban Design to create a strategic plan for the Brooklyn Tech Triangle. The Tech Triangle encompasses DUMBO, Downtown Brooklyn, and the Brooklyn Navy Yard, which have collectively attracted the interest of innovative tenants in the last several years, particularly in DUMBO. The plan will recommend changes in real estate policies, workforce development, transportation, open space and streetscape, and economic development infrastructure to foster the growth of the technology and creative economy in the area.

 

The WXY team was selected out of 17 proposals, comprising more than 60 firms. In addition to HR&A, the team includes Sam Schwartz Engineering, Control Group, the Center for an Urban Future, Workforce Strategy Center and Workshop: Ken Smith Landscape Architect.

 

The Brooklyn Tech Triangle initiative is featured in several prominent press outlets including Crain’s.

HR&A Shows the Benefits of the Expanded Film Tax Credit in NY

 

The Motion Picture Association of America (MPAA) recently released HR&A’s study of the economic and fiscal impact of changes to the New York State Film Production Credit. HR&A’s analysis shows that in 2011 alone, the expanded credit program supported 28,900 jobs across all industries in New York State, and generated $6.9 billion in spending and $4.2 billion in personal income in the State. New York State and New York City also collected an estimated $748 million in combined tax revenue as a result of this new economic activity.

 

HR&A found that in New York State, the total number of jobs in the industry increased by nearly 25% between 2008 and 2011, rising from 36,900 jobs in 2008 to 46,100 jobs in 2011, even though private sector employment as a whole declined by 1.6% during this period. Since its initial adoption in 2004, the tax credit has supported over 700 film and television productions across New York State.

 

HR&A’s findings were reported in several media outlets including the LA Times, the Chicago Tribune and Variety. It can be downloaded here.

Richmond Riverfront Plan Approved by City Council

 

On November 26, the City Council of Richmond, VA approved an ambitious Riverfront Master Plan for 2.25 miles and 830 acres of the city’s downtown Riverfront. Working with Hargreaves Associates, who led the planning process, HR&A developed a funding and implementation strategy for the plan. This included an analysis of potential public and private sources of capital and operations funding, implementation mechanisms and long-term governance structures, and the potential for the enhanced Riverfront to become a significant source of economic growth for Richmond.

 

An extension of the city’s 2009 Downtown Plan, the Riverfront Plan is a comprehensive vision for the future of Richmond on both the north and south banks of the James River, one of the city’s most valuable assets. The Plan offers opportunities for strengthened connections, new open spaces, a variety of landscape experiences, and a wealth of programming. It also highlights private development sites which can provide value for future stewardship of the Riverfront. The plan is expected to have a significant positive impact on adjacent neighborhoods and create a valuable amenity for Richmond residents and visitors.

The full master plan is available here.

HR&A report reveals transformative benefits of Airbnb and the sharing economy

 

HR&A recently completed a study of the economic impacts of Airbnb, an online marketplace for short-term rentals, on the City of San Francisco. Airbnb is a leader in the “sharing economy,” a new trend in the sharing of underutilized resources facilitated by network technologies and social tools. HR&A’s study is one of the most in-depth analyses to date of the economic impacts of the sharing economy. The report reveals multiple ways in which the new economic activities associated with Airbnb have significant impacts on San Francisco and its neighborhoods, businesses, and residents:

 

    • Airbnb benefits its many hosts, who use Airbnb to supplement their income.
    • Airbnb impacts neighborhoods that are off the main hotel beat, distributing visitor spending across many neighborhoods and businesses throughout the city.
    • Airbnb benefits the City as a whole, generating $56 million in direct and indirect spending in the past year.
    • Much of this economic activity is new. Even as San Francisco hotel occupancy has climbed, the number of Airbnb reservations has grown dramatically, indicating that many Airbnb users are a different visitor segment than hotel guests.

 

The report has been covered by Forbes, TechCrunch, Marketwire, The Huffington Post, and Shareable, among other news sources.

HR&A Advises on Arlington’s Groundbreaking Community Energy Plan

 

Arlington County, Virginia released a groundbreaking draft plan to dramatically reduce its greenhouse gas emissions and enhance its economic competitiveness. The Arlington County Board is expected to adopt the plan in June of 2013. HR&A, led by Principal Stockton Williams, worked with Arlington County to develop the plan and supporting policies.

 

“Arlington County’s commitment in its Community Energy Plan (CEP) to cut greenhouse gas emissions by about 75 percent over the next several decades is one of the strongest statements any community in the world has made about the importance of moving to a cleaner energy system,” said Williams in the news release from Arlington County. “The County’s comprehensive approach, laying out paths of action in buildings, transportation, and clean energy generation, should create substantial economic and environmental benefits for the businesses and residents of the County, while enhancing the high quality of life for which Arlington has long been known.” The draft CEP is available for download here.

HR&A Principal Cary Hirschstein to Speak at Greenbuild 2012

 

HR&A Principal, Cary Hirschstein, will be moderating a panel at this year’s 2012 Greenbuild International Conference and Expo on Thursday, November 15th in San Francisco. Greenbuild is the world’s largest conference dedicated to green building and sustainability. The panel, “Testing Innovative Financing Tools for Multifamily Retrofits,” focuses on the opportunities and challenges of unlocking new capital for energy efficiency improvements. Its theme builds on a ground-breaking study that HR&A completed for the Deutsche Bank Americas Foundation and Living Cities examining the accuracy of energy savings projections in 230 retrofit projects and translating findings into an approach for lenders to underwrite against those projections.

 

The panel will also highlight two innovative programs and their approaches to unlocking new capital for multifamily energy retrofits. Anne Evens, the Chief Executive Officer of CNT Energy, and Angela Ferrente, Director of Alternative Energy Solutions at Energi, will discuss two very different approaches to risk mitigation currently underway in Chicago and nationwide, respectively.

Airbnb Acts to Support Hurricane Sandy Victims in New York City

 

Airbnb, the online marketplace for people to list and book accommodations around the world, announced with Mayor Bloomberg today that it was launching a free platform enabling New Yorkers to list homes and extra space for victims of Hurricane Sandy. People who are looking for a place to stay can access free spaces via Airbnb’s Donated Sandy Housing Directory at https://www.airbnb.com/sandy.

 

The online service, founded in 2008, is a leader in the emerging sharing economy. It has created economic benefits for its hosts, distributed the benefits of tourism to off-the-beaten-path neighborhoods, and brought new economic spending to cities from visitors who are price-sensitive and seek a “live like a local” experience they may not otherwise find in conventional accommodation. Airbnb also enables cities to become more competitive by attracting skilled workers and incentivizing relocation with innovative short-term stay opportunities.

 

HR&A recently completed a study of Airbnb’s benefits to the economy of San Francisco and is currently studying its impacts on New York City.

 

Mayor Bloomberg’s press release can be found here.

Sustainable Playland Chosen to Redevelop Rye Playland

 

The County of Westchester, NY, recently selected Sustainable Playland, Inc., a not-for-profit partnership between County residents and business leaders, to redevelop the historic, 280-acre Rye Playland amusement park. For years, redeveloping Playland has been a priority for Westchester County due to its desirable location on Long Island Sound and its heavy reliance on public subsidy.

 

HR&A supported Sustainable Playland’s successful proposal to reinvent and manage the park by: identifying new uses and changes to existing uses that are market and financially feasible; creating a proforma to demonstrate the viability of each project component; and suggesting a framework for on-going stewardship of and funding for the project.

 

Sustainable Playland’s successful development proposal, which preserves the historic amusement rides and includes a water park, a field house and outdoor playing fields, indoor and outdoor skating rinks, an event facility and public outdoor space, was recently profiled in the New York Times.

Jamie Springer to Speak at LowLine Breakfast

 

Jamie Springer will be speaking with LowLine founders Dan Barasch and James Ramsey at the LowLine Breakfast organized by the Forum for Urban Design on Friday, September 21. The LowLine is Barasch and Ramsey’s proposal for an innovative, community-oriented public space in an abandoned trolley terminal beneath Delancey Street on the Lower East Side. The speakers will discuss this exciting concept for a new kind of underground public space, which will preserve the valuable historic elements in the site while introducing remote skylights that deliver sunlight below ground to support plants and trees.

 

Since April, HR&A has been engaged in a preliminary planning study of the LowLine concept, working closely with engineers at Arup and legal experts at Kramer Levin to analyze the economic, physical, and legal feasibility of the project. The HR&A Team has determined that the concept is physically feasible and can support a variety of benefits for the Lower East Side, including the creation of a valuable community and cultural amenity activated by a variety of programming, the preservation of an important historic artifact, the improvement of access to the Delancey-Essex Station, and the development of innovative lighting technology. HR&A has also worked with Barasch and Ramsey to develop a business case and financially self-sustaining operating model for the space.

 

The LowLine Breakfast coincides with the Imagining the LowLine technology exhibit showcasing a working prototype of the LowLine’s remote skylight technology in the Essex Street Warehouse. The exhibit is open and free to the public from September 15-27.