2019 Berwyn Development Corporation 3rd Quarter Report

BERWYN DEVELOPMENT CORPORATION

2019 QUARTERLY REPORT 3RD QUARTER

3322 S Oak Park Ave | Berwyn, IL 60402 (708) 788-8100 | info@berwyn.net | Berwyn.net f @BerwynDevelopmentCorporation i @Berwyn Development Corporation

2019 TIMELINE

JULY - SEPTEMBER

JUL

• • • •

AUG

• • • • • • • •

SEPT

Depot District Cruise Nites BDC Women in Business Monthly Meeting BDC Non-Profit Roundtable Formation of Berwyn’s 2020 Census Complete Counts Committee • Business Corridor Roundtable: Depot • Taste of Cermak

Depot District Cruise Nites BDC Non-Profit Roundtable Northalsted Market Days BDC Women in Business Monthly Meeting WeatherTech Route 66 Car Show Business Corridor Roundtable: Roosevelt Sale of 6710 Cermak Road to a Restaurant Group Presentation of BDC Quarter 2 Report to City Council • Presentation of Vacancy Report to City Council • Presentation of Proposed Community Survey to City Council • Presentation of Cannabis Information to City Council

• Grand Opening and Ribbon Cutting: Friendly Insurance • BDC Seminar: Ramp Up Your Social Media • Business Corridor Roundtable: Harlem • BDC Women in Business Monthly Meeting • Berwyn’s 19th Annual Oktoberfest • Grand Opening and Ribbon Cutting: Alphabet Learning Center • Tax Increment Financing Annual Joint Review Board Meeting • Addition of Wintrust Group to the BDC Commercial Loan Pool • Presentation of Proposed Redevelopment Agreement for a Pay as You Go Incentive Program with La Lupita Mexican Restaurant • Beginning of Acquisitions of 6609 Stanley Avenue and 6639 Stanley Avenue

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Letter from David Hulseberg | Contract | Statistics/Financial

LETTER FROM THE EXECUTIVE DIRECTOR Welcome to the Berwyn Development Corporation's 2019 3rd Quarter Report. As the Executive Director, I'm excited to share the progress we've made so far in the second half of the year. Within this report, you will find valuable information on how the BDC continues to support economic development in the City of Berwyn.

Q3 was incredibly successful for the BDC and we look forward to ending 2019 strong.

The BDC is working proactively with the City of Berwyn to create a healthy business climate for years to come.

In addition to the extension of the Roosevelt and Depot TIF districts through 2032, the BDC worked to pass two inducement resolutions at City Council. These resolutions will allow for the creation of the Ridgeland TIF, as well as the extension of the current Harlem TIF down the Cermak Road corridor. The new and improved TIFs will allow the BDC to bring more of our economic development tools and dollars, such as the Finish Line Grant and Pay As You Go Program, to a larger number of businesses.

DAVID HULSEBERG

While these wins are exciting, the BDC is also taking steps to more aggressively pursue development in our community. In September of 2019, the BDC was instructed by the City of Berwyn to acquire 6609 and 6639 Stanley Avenue. The BDC believes that the acquisition of these properties will act as a catalyst for new opportunities. The BDC will use all tools at their disposal, including eminent domain, to spur redevelopment in our Depot District and throughout the community.

In Q3 the BDC utilized its newly created Vacancy Report to develop a more targeted business attraction strategy. This Report helps the BDC identify challenged areas of the community, opportunities for business investment, and policy recommendations for reducing vacancy. Using this information, we can represent both properties currently on the market, as well as properties that may be on the market in the near future. The Vacancy Report also creates a pipeline of communication with property owners and allows the BDC to develop tools to assist in their redevelopment goals.

With new information in hand, we responded to 87 requests for information from new businesses outside the community, a 200% increase in activity from the 2nd Quarter. New businesses aren't the only ones to benefit from our efforts; we also provided information to 47 existing businesses on economic data, demographics, and incentives. We recognize that feedback is key to improving our service to the business community, and as such the BDC is ramping up our efforts to gather information. The BDC conducted 2 in-depth business retention visits and launched the 2019 Business Survey.

Our goal is to gather direct feedback from as many businesses as possible before the end of the year.

Our business efforts are supported and reinforced by continued engagement from the community. In Q3, the BDC revamped the Berwyn Community Resident Survey. This is a follow-up to a survey conducted in 2008-2009 and has provided a vast wealth of information on resident sentiment. The survey results will guide the strategic planning session in Q4 and will be utilized in the generation of a new strategic plan for Berwyn in 2020.

We are happy with all the successes of Q3 2019 and look forward to exciting opportunities in Q4 and beyond.

Sincerely, David Hulseberg

Berwyn Development Corporation Contract with the City of Berwyn A. Business Attraction (NEW Business Prospects) a. The BDC provided information to 47 new business prospects on land, buildings, demographics, labor force, housing, education, and other relevant information. b. The BDC provided information to 9 new business prospects on infrastructure, engineering, site planning, and other relevant information. c. The BDC agreed to perform the following business attraction services to aid prospective businesses and developers: i. BDC staff reviewed existing incentive programs to make recommendations and provide feedback from the development community. The BDC continued tracking feedback through the creation of the Vacancy Report, Transfer Stamp Supplemental Memo, and Business License Tracking 1. The BDC continued to market the Finish Line Grant and Pay as You Go TIF Programs. The BDC received interest from 20 businesses for the Finish Line Grant Program, and 1 business for the Pay as You Go Program. In Q3, the BDC received 4 applications for Finish Line Grant funding. ii. The BDC established relationships in the real estate community by meeting with real estate professionals and participating in community events and trade shows, as time and resources permitted. BDC staff attended 9 events, including the following: 1. NIU Workplace Legislative Changes Seminar 2. LAI Group 3. Costar Group Networking Event 4. CDFA Opportunity Zones Event 5. Republic Bank After Hours Event 6. North Berwyn Park District Golf Outing 7. Youth Crossroads Open House 8. REIA Event 9. Annual Illinois Tax Increment Finance Conference iii. The BDC continued working on recommendations provided during the Berwyn Council of Presidents event in Q2 by creating the Community Resident Survey. The BDC sent this survey to a representative sample of 1800 households, as well as morning Metra commuters. Data gathered will be used to guide Berwyn's Strategic Planning Session, and develop Berwyn's Strategic Plan.

B. Business Retention and Expansion (Existing Business Prospects) a. The BDC conducted 2 Business Retention Visits in Q3 in an effort to collect information and build stronger relationships with our business community. b. The BDC retention program identified the needs of existing businesses in the following ways: i. The BDC provided information to 47 existing businesses on economic, demographic, or commercial real estate. ii. The BDC updated information on Berwyn’s economic profile, including the available properties on our website. iii. The BDC conducted three (3) Business Corridor Roundtables, including the Depot, Roosevelt Road, and Harlem Avenue. iv. The BDC continued to maintain a database of all Berwyn businesses and work with the Permit Administrator to revamp the City business license process.

1. In Q3, the BDC received information for 105 commercial permits awarded by the City of Berwyn. Each permit contact received between 1 and 4 “touches,” or communication attempts. BDC staff received feedback from 59% of those contacted.

2. In Q3, the BDC received information on 4 commercial transfer stamps.

Each received between 1 and 4 “touches.” BDC staff received feedback from 100% of those contacts.

3. In Q3 the BDC received business licenses and welcomed the following 8 businesses to the community: a. Berwyn Liquors b. Key Smart Mortgage Co. c. Jump for Joy Daycare d. Wyn's Bar e. Luv 2 Smoke f. Friendly Insurance Advisor Group g. Peques Wiggles and Giggles Learning Center h. Harlem Nail Spa C. Miscellaneous a. The BDC continued to operate the Commercial Loan and Microloan pools to assist community businesses with financing options. b. The BDC continued to serve as the TIF Administrator and hosted the annual Joint Review Board meeting with taxing bodies. In this meeting the BDC provided attendees a 4-year projected budget, based on new information from the approved extensions of the Depot and Roosevelt TIF districts.

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Contract Continued | Social Media/Marketing Results

Contract continued Mid-Term ((6-12 Months)) 1. The BDC utilized information from the City to continue economic development "touches" for new businesses receiving a license, commercial transfer stamps, and permits issued for building renovations.

2. The BDC utilized these touches and information from the City to create a Vacancy Report and Supplemental Commercial Transfer Stamp Memo for presentation to City Council. The BDC also began creating a Building Permit Report. These reports will be presented to the City Council and published quarterly on the BDC website.

Long-Term ((12+ Months) 1. The BDC began conducting a community-wide Resident Survey to gather information. This survey will be utilized to host a community strategic planning session, update strategic goals, and begin developing a comprehensive plan for Berwyn.

2. The BDC utilized the Vacancy Report to highlight challenge areas in key corridors and provided a list of recommendations to City Council to begin addressing community vacancies.

SOCIAL MEDIA RESULTS Total Reach:

FACEBOOK

INSTAGRAM

FOLLOWERS

f 14,215 l 2,966 t 1,691

TWITTER

100K 50K 40K 30K

20,436

20K

1,638

66,429

6,662

52,287

5K

11,854

36,765

10K

1,663

1,667

0

JUL

AUG

AVERAGE FACEBOOK POST REACH

2,827

SEPT

OTHER QUARTER 2 NEWS 2019 CRG Results: Production

Sold

$23,905

$31,880

Profit: $7,975 2018 CRG Results: AVERAGE INSTAGRAM POST LIKES

48

Production

Sold

$23,867

$31,755

Profit: $7,888