Working with Economic Developers 101 with Jeff Jackson & Marlin Eldred

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.Chapters00:00Introduction and Setting00:38Different Government Agencies Involved in Development01:26Role of the Redevelopment Agency (RDA)04:24Community Reinvestment Areas (CRA) and Project Specifics07:10Utilizing Economic Development Tools for Impediments09:33City Goals: Jobs, Sales Tax, and Beautification10:31Different Economic Development Goals for Each Community13:02Sales Tax as the Main Revenue Generator for Cities14:24Involvement of Taxing Entities for Personal and Real Property Projects19:36Role of the Economic Development Director and Collaboration21:24Approaching Economic Development Agencies and Building Relationships24:06Political Buy-In and Involvement of Taxing Entities30:24Redevelopment Agencies and Low to Moderate Income Housing32:23Funding and Financing Options for Developers33:56Activating Downtown Areas and Reinvesting in Communities34:31Supporting Small Businesses and Economic Development38:38Attracting Businesses and Initiating Conversations39:08Understanding Motivators for Businesses and Developers47:45Incentives for Developers and Aesthetics of Projects49:51Beautification and Walkability in Community Development56:12Other Tools and Incentives for Economic Development