Presentation from Downtown Shakopee Business Leaders Group to Mayor Mars

1. Downtown Shakopee Business Leaders’
Long-Term Goals - 8/11/2016
Support activity and community
awareness of Downtown
Shakopee.
• Request: Continue support for Main Streets Shakopee
program at $25,000 in 2017 Budget.
Support high-density residential
projects in Downtown Shakopee
• The City must lead the way in promoting and
encouraging high-density residential projects.
• If necessary, utilize TIF and other incentives for
qualifying projects.
Support Public/Private partnerships
to maintain and improve older
buildings.
• Request: Continue support for Exterior Improvement Loan
Program with $150,000 available for loans in the 2017 budget.
Support public realm improvements
through Downtown Shakopee
• Utilize appropriate funding sources for each part of the
public realm improvements. (Park reserve for Parks, Public
Works CIP for parking lots)
• Assess 10% of public realm improvements to Downtown
Properties.
• Request: Allocate $750,000 in 2017 budget for phased
construction of identified public realm improvements.

2. Long-term Goals for
Downtown Shakopee
Downtown Shakopee Business Leaders
August 11, 2016

3. Agenda
5:00 - Welcome & Introductions
5:05 - Director of Planning & Dev, Michael Kerski
5:10 - Long-term Goals & 2017 Budget
5:33 - Discussion
5:50 - Adjourn
Now - Welcome/Introductions
5:05 - Kerski

4. Members
American Family Insurance
Bill’s Toggery
eCig
Edward Jones
First Avenue Framing
Grepoli
Hometown Bank
JMW Law
Munkabeans
O’Brien’s Public House
Pullman Club
Real Gem
Suntide Realty
Turtles Bar & Grill
Valley Sports
The Yoga Barre
Now - Welcome/Introductions
5:05 - Kerski

5. DT Biz Leader Program Goals
1) Keep downtown businesses informed of
governmental actions.
2) Organize a cohesive voice to communicate
the priorities of downtown Shakopee
businesses with decision-makers.
Now - Welcome/Introductions
5:05 - Kerski

6. Director of Planning and
Development, Michael Kerski
Now - Kerski
5:10 - Long-term Goals & 2017 Budget

7. Long-Term Goals
Continue support for Main Streets Shakopee
program
Encourage High-Density Residential in
Downtown Shakopee
Continue support for Exterior Improvement
Loans program
Increase financial investment in Downtown
Shakopee
Now - Long-term Goals & 2017 Budget
5:13 - Exterior Improvement Loan

8. Exterior Improvement Loan
Older downtown buildings are more expensive
to maintain and repair than newer buildings.
Working together to retain the look and feel of
an historic Downtown.
Partnering with Downtown property owners is
of financial benefit to the City of Shakopee.
Now - Exterior Loan Program
5:18 - Downtown Investment

9. Exterior Improvement Loan
Exterior Improvement Loan is working!
Downtown properties who have received the
loans look incredible and their neighbors have
followed suit.
Now - Exterior Loan Program
5:18 - Downtown Investment

10. Exterior Improvement Loan
From 2013 to August 1, 2016:
$464,337 in forgivable loans
$1.6 million in total investment
Leveraged $2.46 of private investment for every
$1.00 of public investment
33% increase in Property Valuations from 2013
to 2017
Now - Exterior Loan Program
5:18 - Downtown Investment

11. Cumulative investment per project from 2013 to present
Exterior Improvement Loan
$0
$400,000
$800,000
$1,200,000
$1,600,000
Public Investment Private Investment
Now - Exterior Loan Program
5:18 - Downtown Investment

12. Exterior Improvement Loan
$0.00
$45,000.00
$90,000.00
$135,000.00
$180,000.00
2013 2014 2015 2016 2017 Request
End of Year / Current Balance Annual Investment
$160,663
$24,859
$37,853
$140,148$140,148
$37,853
$24,859
$160,663
Now - Exterior Loan Program
5:18 - Downtown Investment

13. Annual Percent Change in Property Values
Exterior Improvement Loan
-22.5%
-15.0%
-7.5%
0.0%
7.5%
15.0%
22.5%
30.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017
Fuller / Holmes Holmes / Lewis Lewis / Sommerville Exterior Loan Properties
Now - Exterior Loan Program
5:18 - Downtown Investment

14. Exterior Improvement Loan
Continue support for the Exterior Improvement
program at $150,000 annually and continue
ability to use for any exterior project.
Downtown Business Leaders Request:
Now - Exterior Loan Program
5:18 - Downtown Investment

15. Downtown Investment
Downtown Shakopee is the core and heart of
our Community.
A pleasing, inviting public realm is critical to
the success of Downtown Businesses and our
identity as a Community.
Downtown Shakopee is an economic driver for
our Community.
Now - Downtown Investment
5:23 - High Density Residential

16. Downtown Investment
$0
$5,000
$10,000
$15,000
$20,000
Imagine Print Walmart Target Addison Riva Ridge SB Strip Mall Anchor Bank Downtown Thrivent Turtles
$19,086
$14,105
$7,613$7,142$6,972$6,880
$5,406
$3,773$3,641$3,395
City of Shakopee Taxes Collected Per Acre
Downtown Shakopee businesses
provide the highest per acre revenue of
anywhere in the City of Shakopee.
Now - Downtown Investment
5:23 - High Density Residential

17. Downtown Investment
Allocate $750,000 in 2017 budget for phased
construction of identified public realm
improvements.
Utilize appropriate funding sources for portions
of project. (Park Reserves for Parks, Public
Works for Parking Lots)
Assess 10% of public realm improvements to
Downtown properties.
Downtown Business Leaders Request:
Now - Downtown Investment
5:23 - High Density Residential

18. High Density Residential
Need to increase foot traffic and young people
in the core downtown area.
Enthusiastically support R-4 Zoning for
apartment projects.
Support reduction in surface parking lots with
increase in other parking options with new
projects.
Now - High Density Residential
5:28 - Main Street Shakopee

19. High Density Residential
Now - High Density Residential
5:28 - Main Street Shakopee

20. High Density Residential
Now - High Density Residential
5:28 - Main Street Shakopee

21. High Density Residential
The City of Shakopee and the Shakopee City
Council promote and encourage high-density
residential projects in Downtown Shakopee.
If necessary, utilize TIF and other incentives for
qualifying projects.
Downtown Business Leaders Request:
Now - High Density Residential
5:28 - Main Street Shakopee

22. Main Street Shakopee
Working in conjunction with the Main Street
Program
Critical for building community awareness
26 New and expanded businesses (12/13/15)
Over $4 million in investment (12/13/15)
Now - Main Street Shakopee
5:33 - Discussion

23. Main Street Shakopee
Shakopee City Council continues to
support the Main Street Shakopee
program at $25,000 annually.
Downtown Business Leaders Request:
Now - Main Street Shakopee
5:33 - Discussion

24. Discussion
Now - Discussion
5:50 - Adjourn

25. Long-term Goals
Increase Downtown Shakopee engagement and activity
by supporting Main Streets Shakopee
Maintain the Exterior Improvement program which
improves the long-term viability and integrity of property.
Implement downtown public realm plan in phases.
Add high-density residential projects in Downtown to
increase foot traffic and long-term viability.
Now - Discussion
5:50 - Adjourn

26. 2017 Budget Requests
$25,000 for Main Street Shakopee
$150,000 for Exterior Improvement Loan Program
$750,000 for phased Public Realm Improvements
Now - Discussion
5:50 - Adjourn

27. Thank you.
Now - Adjourn