Top Banner
Cedar Rapids Business Survey City Manager’s Office June 23, 2020
77

Cedar Rapids Business Survey

Mar 24, 2022

Download

Documents

dariahiddleston
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Page 1: Cedar Rapids Business Survey

CedarRapidsBusinessSurveyCity Manager’s OfficeJune 23, 2020

Page 2: Cedar Rapids Business Survey

Outline• Overview 

• Process

• Review Analysis & Findings

• Next Steps 

• Questions

Page 3: Cedar Rapids Business Survey

Overview:RetentionProgram• Purpose: Help facilitate local business expansion

o Remove hurdles to existing industry growtho Identify ways City ED process can have positive impacto Avoid (or delay) adverse impacts for employers

• Project Highlights:o Most visits from May 2019 to Feb 2020; 64 responses as

of 5/1/20o Joint visits ongoing w/CRMEA + ED Partner Collaborationo Visit cross‐section of businesses in Cedar Rapids

Page 4: Cedar Rapids Business Survey

Overview:CityBusinessSurvey• Existing industry in CR 

surveyed since 2016• Content focuses on needs 

and priorities of business community

• Measures business climate satisfaction

• New in 2020:• New economic forecast model• Indicator series forward 

looking

Page 5: Cedar Rapids Business Survey

Synchronist ProcessSummary

j

Page 6: Cedar Rapids Business Survey

EconomicBaseTheory

Page 7: Cedar Rapids Business Survey

Themes• Though disruptive, history shows pandemics tend not to change direction of long‐run growth patterns. • (e.g., Memphis 1887; NYC 1918)

• COVID‐19 shock increases short‐run economic volatility and uncertainty; expansion of industry clusters is key to recovery/building greater economic resiliency.  

• Reinforce analytics capability  to clear picture of how external environment relates to range of local policy actions.  

Page 8: Cedar Rapids Business Survey

RegionalEconomicAnalysis• June 8th: U.S. Enters 

recession after 128 months of growth (NEBR)

• Data rich forecast model enhances insight into local conditions/response

• COVID‐19 Shock to global economy:• Supply• Demand• Wealth (Income)

Page 9: Cedar Rapids Business Survey

Unemployment• April BLS figures: 

• Iowa : 10.2%• Linn County: 12.4%• U.S.: 13.3% 

• Widespread impact• 1 in 5 households 

lost work overall• 2 in 5 under $40k 

annual income

• “Reallocation Risk”• 77% of workers 

losing jobs may be able to return…(?)

Page 10: Cedar Rapids Business Survey

GrossDomesticProductU.S. GDP: 

• Q1 & Q2: ‐4.8%; ‐35% • Q3 & Q4: Stabilization 

• (2019) Weakness in business cycle• Manufacturing• Transport

• Current decline lead by services sector:• Retail (Storefront)• Hospitality • Bar & Restaurant

Page 11: Cedar Rapids Business Survey

MarketTrends• Model confirms steady 

Cedar Rapids population growth (Up to 1%/yr)

• Record US Savings Rate: 33%

• Return to CR disposable income baseline in 2022:• Retain or grow market’s 

purchasing power• Maintain current 

position in in attracting service sector investment

Page 12: Cedar Rapids Business Survey

OpportunitiesSurvey Results:• 62.5% of companies participating plan to expand in next

three years.

• Companies report a high‐level of satisfaction with Cityservices and infrastructure

• Businesses rank workforce productivity, quality andstability very highly

• No difference in positive sentiment toward doing businessin Cedar Rapids between local office and corporate staff

• About 8% of companies responded that expansion wouldbe more likely with completion of flood control

Page 13: Cedar Rapids Business Survey

ChallengesSurvey Results:• CR businesses still identify workforce as most important

issue

• However, crime and public safety, economic growth (jobs),and flood control, and street repairs all showed increases

• Qualitative feedback identified a need to continue toinvest in quality life and amenities

• 73% of companies report emerging technology will changehow industry operates

• Only around 60% of companies surveyed export

Page 14: Cedar Rapids Business Survey

Example:LaborAvailability

Page 15: Cedar Rapids Business Survey

CityEDWebPortalEnhancement

www.economicdevelopmentcr.com

Page 16: Cedar Rapids Business Survey

NextSteps• EDS anticipates economic and financial loss survey in second half 

of 2020• Provide ongoing trends and conditions reporting as needed • Expand regional economic modeling toolkit (IMPLAN)• Perform value stream mapping for corn and soybean processing 

industries to focus on cluster growth• Collaborative workforce needs survey already initiated • Engage external partners from regional to state level to forward 

projects that enhance Cedar Rapids community’s economic resilience

Page 17: Cedar Rapids Business Survey

Questions

Presentedby:David Connolly, AICPEconomic Development [email protected] 319‐286‐5067

Page 18: Cedar Rapids Business Survey

PublicHearingtoContinueAcquisitionofEasementsfromAglandforTowerTerraceRoadReconstruction– FromMillerRoadtoI‐380June 23, 2020

Page 19: Cedar Rapids Business Survey
Page 20: Cedar Rapids Business Survey

ProjectOverview• 4 total parcels on this project; 2 ag land parcels

• Acquisitions include: temporary construction easements 

• Iowa Code requires a public hearing when ag land is impacted 

• Next Steps: 

• Value the acquisition

• Meet with property owners to begin negotiations

• Construction proposed for summer 2021

Page 21: Cedar Rapids Business Survey

PublicWorksRecommendationAdopting the resolution to continue the acquisition of temporary easements from agricultural property not yet acquired for an approved public improvement project.

Presentedby:Rita Rasmussen, SR/WAReal Estate Services Managerr.rasmussen@cedar‐rapids.org319‐286‐5802

Page 22: Cedar Rapids Business Survey

2020SidewalkInfillProject

June 23, 2020

Page 23: Cedar Rapids Business Survey
Page 24: Cedar Rapids Business Survey

ProjectDetails• Construction Cost Estimate = $150,000• Bid opening on June 24, 2020• Anticipated completion in Fall 2020

Page 25: Cedar Rapids Business Survey

The Public Works Department recommends approval of the resolution to adopt plans, specifications, form of 

contract and estimated cost for this project.

Presentedby:Brenna Fall, P.E.CIP Program Managerb.fall@cedar‐rapids.org319.286.5732

Page 26: Cedar Rapids Business Survey

BowlingStreetSWImprovementsFrom 50th Avenue SW toWilson Avenue SW

June 23, 2020

Page 27: Cedar Rapids Business Survey

PROJECT DETAILS• CRANDIC Railroad crossing 

improvements• Pavement repair and 

rehabilitation• 4‐lane to 3‐lane conversion

Page 28: Cedar Rapids Business Survey

ProjectDetails• Construction Cost Estimate = $1,935,000• Bid Letting on June 24, 2020• Construction scheduled for 2020 with Completion by July 2021

Page 29: Cedar Rapids Business Survey

Presentedby:Brenna Fall, P.E.CIP Program Managerb.fall@cedar‐rapids.org319.286.5732

The Public Works Department recommends approval of the resolution to adopt plans, specifications, form of 

contract and estimated cost for this project.

Page 30: Cedar Rapids Business Survey

NoelridgeGreenhouseRoofRepairsPublic Hearing

Page 31: Cedar Rapids Business Survey

NoelridgeGreenhouseRoofRepairs

• The Noelridge Greenhouse consists of five greenhouse structures that are connected to each other on the sides.

• This spring a hail storm damaged the roof panels on all five greenhouse structures.

• This project will repair the damaged acrylic panels on three of the houses and the damaged glass panels on two of the houses.

Page 32: Cedar Rapids Business Survey

NoelridgeGreenhouseRoofRepairsOverview of Noelridge Greenhouses’

Page 33: Cedar Rapids Business Survey

NoelridgeGreenhouseRoofRepairs

• Insurance funds will cover the costs for this project.

• The construction estimate for this project is $180,000.

• Bids are due Wednesday, June 24, 2020.

• We expect work to commence in the late summer or early fall.

Page 34: Cedar Rapids Business Survey

NoelridgeGreenhouseRoofRepairs

Greenhouse Roof Hail Damage

6/24/2020

Glass PanelsAcrylic Panels

Page 35: Cedar Rapids Business Survey

ImOn IceArenaPartyDecksProjectPublic Hearing

Page 36: Cedar Rapids Business Survey

ProjectMap

Page 37: Cedar Rapids Business Survey

KeyFactsaboutProject• Replacing bleachers in 4 corners of NHL Arena with decks to accommodate groups.

• Requirement in long‐term lease agreement between City and Cedar Rapids RoughRiders

• Purchase and Installation Cost Estimate ‐$200,000

• Funding – ImOn Ice CIP funded by hotel/motel revenues.

• Bid Opening – June 24, 2020• Completion Date – September 2020

Page 38: Cedar Rapids Business Survey

ImOn Ice Arena recommends approval of the resolution to adopt plans, specifications, form of contract and 

estimated cost for this project.

Presentedby:Michael SilvaExecutive Director, [email protected]‐398‐5211

Page 39: Cedar Rapids Business Survey

FY2020SidewalkRepairProgram– ContractNo.2

June 23, 2020

Page 40: Cedar Rapids Business Survey
Page 41: Cedar Rapids Business Survey

BidResults• Bids received on June 10, 2020

Curtis Contracting Corp., Cedar Rapids, IA $216,731.00Possibilities Unlimited, LLC, Cedar Rapids, IA $230,580.00Ti‐Zack Concrete, Inc., LeCenter, MN $331,378.00Tricon General Construction, Cedar Rapids, IA $358,666.50B.G. Brecke, Inc., Cedar Rapids, IA $369,789.00Eastern Iowa Excavating & Concrete, LLC, Cascade, IA $537,933.00

Page 42: Cedar Rapids Business Survey

The Public Works Department recommends award of the contract to Curtis Contracting Corp. in the amount 

of $216,731.00

Presentedby:Brenna Fall, P.E.CIP Program Managerb.fall@cedar‐rapids.org319.286.5732

Page 43: Cedar Rapids Business Survey

ReportonBidsandAwardRecommendation

Deb Ann Lane NE Sanitary Sewer LiningContract  6550069‐01

Page 44: Cedar Rapids Business Survey

Proposed Improvements• Rehabilitate sanitary sewer with cured‐in‐place liner

• Corrects defects found during routine inspection program

• Lining 442 feet of 18 inch pipe

Page 45: Cedar Rapids Business Survey

BidResultsandAwardRecommendation• Bid Date: June 10, 2020 (2 bids received): 

• The Public Works Department recommends award of the construction contract to Municipal Pipe Tool Company, Inc.   

Municipal Pipe Tool Co., Inc., Hudson, IA $118,390.00

Insituform Technologies USA, LLC Chesterfield, MO $141,457.00

Page 46: Cedar Rapids Business Survey

OFBLLC– 1721DStSWResolutionofSupport

City CouncilJune 23, 2020

Page 47: Cedar Rapids Business Survey

Background Received application for standard incentives from

OFB, LLC Project qualifies under the City’s Targeted District

Reinvestment – Economic Development Program Incentive provides a 10-year, 100% reimbursement

of increased taxes generated by the project

Page 48: Cedar Rapids Business Survey
Page 49: Cedar Rapids Business Survey

ProjectOverview

$850,000 total investment Construction of new 4-unit rowhouse

3-bedroom, 2.5 bath, 1,174 sq. ft.

Market Rate

For-sale, owner occupied

Page 50: Cedar Rapids Business Survey
Page 51: Cedar Rapids Business Survey
Page 52: Cedar Rapids Business Survey

Recommendation

Staff recommends approval of Resolution of Support authorizing standard 10-year, 100% incentive:• $193,800 in total taxes generated over a 10-year

period• $146,700 reimbursed to the Developer (present

value of $95,200)

Page 53: Cedar Rapids Business Survey

NextSteps

Presentedby:Caleb MasonEconomic Development Analystc.mason@cedar‐rapids.org319‐286‐5188

Today Resolution of Support

July Amend Urban Renewal Area Plan

August Development Agreement

Page 54: Cedar Rapids Business Survey

TheHub– 900Block16th StNEResolutionofSupport

City CouncilJune 23, 2020

Page 55: Cedar Rapids Business Survey

Background Received application for standard incentives from

The Hub, LLC Project qualifies under the City’s Targeted District

Reinvestment – Economic Development Program, located in College District planning area

Incentive provides a 10-year, 100% reimbursement of increased taxes generated by the project

Page 56: Cedar Rapids Business Survey
Page 57: Cedar Rapids Business Survey

ProjectOverview

• $2 million investment• 3 – 4-unit town house buildings (12 total

units)• Market rate• Zero lot lines• Rental or owner-occupied

Page 58: Cedar Rapids Business Survey
Page 59: Cedar Rapids Business Survey
Page 60: Cedar Rapids Business Survey

Recommendation

Staff recommends approval of Resolution of Support authorizing standard 10-year, 100% incentive:• $436,150 in total taxes generated over a 10-year

period• $341,500 reimbursed to the Developer (present

value of $221,500)

Page 61: Cedar Rapids Business Survey

NextSteps

Presentedby:Caleb MasonEconomic Development Analystc.mason@cedar‐rapids.org319‐286‐5188

Today Resolution of Support

July Amend Urban Renewal Area Plan

August Development Agreement

Page 62: Cedar Rapids Business Survey

First&FirstWestCityCouncil

June 23, 2020

Page 63: Cedar Rapids Business Survey

Timeline November 6 – Steering Committee reviewed

objectives and evaluation criteria for RFP November 12 – Open House December 3 – City Council initiated RFP February 28 – RFP Proposal deadline June 3 – Steering Committee Review Today – City Council consideration of proposal

recommended by Steering Committee

Page 64: Cedar Rapids Business Survey

DevelopmentObjectives

Master-planned, destination development Creates new attraction to downtown Complements existing amenities Contributes to a sense of place – architectural design

and walkability Integrates public gathering space

Page 65: Cedar Rapids Business Survey

ProposalEvaluation

Steering Committee is recommending the City Council pursue the development proposal of 1st & 1st LLC: Capable Development team with demonstrated

experience Project creates new attractions & amenities Incorporation of housing Incorporates public gathering

Page 66: Cedar Rapids Business Survey

1st &1st LLC– KingstonLanding Development partners: Joe Ahmann, Chad Pelley, Nate Kaeding,

Matt Swift, Southgate Companies Consultants: OPN Architects, Fusion Architects, Hall & Hall

Engineers Estimated Investment: $90-100 million Project components:

Spare Time Family Fun Center Movie Theatre (12-14 screens) Big Grove Brewery Parking Structure (600 stalls) 6 – mixed-use buildings Outdoor gathering area/public plaza

Page 67: Cedar Rapids Business Survey

6/24/2020

Page 68: Cedar Rapids Business Survey

6/24/2020

Page 69: Cedar Rapids Business Survey

6/24/2020

Page 70: Cedar Rapids Business Survey

6/24/2020

Page 71: Cedar Rapids Business Survey

6/24/2020

Page 72: Cedar Rapids Business Survey

6/24/2020

Page 73: Cedar Rapids Business Survey

6/24/2020

Page 74: Cedar Rapids Business Survey

6/24/2020

Page 75: Cedar Rapids Business Survey

6/24/2020

Page 76: Cedar Rapids Business Survey

SteeringCommitteeRecommendationCity Council pursue the development proposal submitted by 1st & 1st LLC with thoughtful consideration to the following: Parking

Location & right-sizing to meet current and future needs Design compatibility within development

Multiple housing options & price points Design:

Strong connection to riverfront Sustainability View from I-380

Page 77: Cedar Rapids Business Survey

NextSteps Today – Resolution authorizing the City Manager to

pursue a Project Term Sheet with 1st & 1st LLC: Minimum Improvements Parking structure Timeline & phasing Financial incentives Disposition terms

Summer 2020 – City Council consideration of a Project Term Sheet

Development Agreement