Working with Economic Developers 101 with Jeff Jackson & Marlin Eldred

Masters In Real Estate

The discussion focuses on the role of economic development agencies, such as RDAs and CDAs, in the development process. RDAs, with state-granted powers, create CRAs to enable tax increment financing, aiming to boost job creation, sales tax, and city beautification. Developers should collaborate with these agencies, securing political and taxing entity support for success. The Salt Lake City RDA is noted for its significant resources, including a loan fund for affordable housing and downtown revitalization. The conversation also highlights the importance of relationships with site selectors, brokers, and developers, as well as using incentives like tax increment financing to attract businesses. Beautification, walkability, and high-quality buildings are emphasized as key factors in development projects.
Chapters

00:00
Introduction and Setting

00:38
Different Government Agencies Involved in Development

01:26
Role of the Redevelopment Agency (RDA)

04:24
Community Reinvestment Areas (CRA) and Project Specifics

07:10
Utilizing Economic Development Tools for Impediments

09:33
City Goals: Jobs, Sales Tax, and Beautification

10:31
Different Economic Development Goals for Each Community

13:02
Sales Tax as the Main Revenue Generator for Cities

14:24
Involvement of Taxing Entities for Personal and Real Property Projects

19:36
Role of the Economic Development Director and Collaboration

21:24
Approaching Economic Development Agencies and Building Relationships

24:06
Political Buy-In and Involvement of Taxing Entities

30:24
Redevelopment Agencies and Low to Moderate Income Housing

32:23
Funding and Financing Options for Developers

33:56
Activating Downtown Areas and Reinvesting in Communities

34:31
Supporting Small Businesses and Economic Development

38:38
Attracting Businesses and Initiating Conversations

39:08
Understanding Motivators for Businesses and Developers

47:45
Incentives for Developers and Aesthetics of Projects

49:51
Beautification and Walkability in Community Development

56:12
Other Tools and Incentives for Economic Development