Surveys & Interviews
Qualitative data can assist communities to identify key concerns regarding real estate, finance, workforce, business operations, and property conditions to target initiatives.
Designated Corridors
With the areas identified from the mapping, surveys and interviews, communities can identify at risk commercial areas and designate special corridors where policies and programs can be implemented.
Zoning Restrictions & Incentives
Once key areas facing commercial displacement have been identified, communities can use zoning to create urban and suburban forms that can assist in maintaining some small businesses.
Commercial Land Trust
A Community Land Trust is a non-profit corporation which: Buys property in a jurisdiction, Maintains a ground lease, Sells the building to an independent, locally owned business or group of business owners. When the business chooses to sell the property, the Community Land Trust repurchases it at a set price.
Subsidized Space
Communities, often through their Development Authority or other redevelopment organization, would purchase a property and sell it to a developer. The sale would be below market value with a restriction that a certain amount of the property be used to support local businesses.
Owner Occupancy
By controlling the property in which they are located, small businesses do not have to manage increases in rents or lease negotiations.
Community Benefits Agreements (CBA)
A Community Benefits Agreement (CBA) is a project-specific agreement between a developer and the community which details the project’s contributions to the community.
Tax Allocation Districts (TAD)
The community can create a business or community improvement district where incremental tax revenue is reinvested into infrastructure improvements.
Incentives
Communities may offer financial incentives to developers for creating space for and/or preserving local, cultural, and legacy businesses.
Business Relocations (Temporary & Permanent)
As properties are redeveloped, there may be opportunities for businesses to return to the site or to relocate nearby.
Dedicated Commercial Project Manager
The community can designate a commercial project manager, similar to a Main Street Manager, who ensures small businesses have access to the resources they need and serves as a liaison for developers to preserve the desired small business mix.
Real Estate Advisory Committee
As available real estate changes rapidly, the community cannot easily keep up with inventory that might accommodate impacted small businesses on a temporary or permanent basis.