Berwyn Development Corporation 3rd Quarter Report

2022 TIMELINE

JULY - SEPT

JULY

Second Saturday – Berwyn Shops Event

BDC’s Nonprofit Roundtable Monthly Meeting Central Berwyn Business Corridor Roundtable Taste of Cermak 2022 Chamber Onboarding - Berwyn Shops Training Second Saturday – Berwyn Shops Event Kid’s Cookie Decorating Workshop – Berwyn Shops Event Women in Business After Hours – Berwyn Shops Event Author Visit: Araseli Rodriguez – Berwyn Shops Event Zumba Class with W3Body – Berwyn Shops Event

Coffee & Connections at Monse's Grand Re-Opening of Media Noche Cafe Social Media & Marketing Internship Informational Session

BDC’s Nonprofit Roundtable Monthly Meeting BDC Women in Business Monthly Meeting Business Corridor Roundtable: Ogden Ave WeatherTech Route 66 Car Show 2 Month Recap – Berwyn Shops Event Hiring/Payroll 101 – Berwyn Shops Training Safety on Site – Berwyn Shops Training Second Saturday – Berwyn Shops Event Beauty Queens on Site – Berwyn Shops Event Themed Weekends – Berwyn Shops Event

AUG

SEPT

BDC’s Nonprofit Roundtable Monthly Meeting Grand Opening Celebration of Baird & Warner Berwyn's Oktoberfest 2022 sponsored by BNSF Railway BDC Women in Business Monthly Meeting Business Corridor Roundtable: All Berwyn K Shulada Kermes Festival – Berwyn Shops Event Second Saturday – Berwyn Shops Event Professional Make Up Class by Date Nite – Berwyn Shops Event Civic Series: Power of Language – Berwyn Shops Event ITIA 2022 Conference – Berwyn Shops Presentation Marketing 101 – Berwyn Shops Training

LETTER FROM THE EXECUTIVE DIRECTOR

As the Executive Director of the Berwyn Development Corporation (BDC), I would like to welcome you to our 3rd Quarter Report for 2022. Within this report you will find valuable information on how the BDC has contributed to economic development in the City of Berwyn.

Q3 of 2022 continued the momentum of the first half of the year, with marked increases in business retention and expansion efforts. In fact, we provided information to existing Berwyn businesses over 4,230 times. This number includes phone calls, emails, and social media posts, and is more than 5 times the retention efforts completed in Q3 of 2021. Furthermore, the BDC intentionally heightened in-person outreach efforts. We distributed 2 mailers to over 2,100 businesses, conducted 5 corridor walks, facilitated 3 corridor roundtables, and hosted 2 informational sessions. We aimed to connect Berwyn businesses to all available financial resources, educational opportunities, and networking events.

Our outreach efforts paid off for businesses both within Berwyn and beyond its borders. Specifically, the BDC committed $52,507.47 and $99,292.56 in Finish Line Grants to eligible renovation projects in the Depot District and along Cermak Road, respectively. We also facilitated over 180 one-on-one business advising sessions with small business owners throughout Berwyn and the surrounding areas, covering topics such as marketing, access to capital, and grant preparation. Finally, we responded to more than 23 inquiries about land, buildings, and zoning from prospective businesses. Collectively, the personalized advising sessions have strengthened businesses, as well as put the BDC on the map as a resource hub for the Western Suburbs.

Beyond direct business assistance, the BDC worked to help build a sense of community and boost tourism in Q3. Residents and visitors alike witnessed the return of two of our biggest special events – Route 66 Car Show and Oktoberfest. Of note, the 2022 Route 66 Car Show was aired 21 times on television and radio, reaching a combined audience of over 763,142. The segments celebrated the event’s 30th anniversary and focused on new public art pieces along Ogden Ave, including a mini car spindle, mural, and muffler man. These installations were made possible by the $340,000 Route 66 Grant. The BDC will use the remaining dollars to further support Ogden Ave, celebrating its history with wayfinding signage and accommodating new tourism with electric vehicle charging stations.

In short, we are proud of the Berwyn community – its resiliency, diversity, and growth. The BDC will continue to support special events and connect our small businesses to available resources so that we finish the year stronger than ever. We look forward to new partnerships, additional grant dollars, and community building in Q4.

Hulseberg

Berwyn Business Events

New Business Outreach

In 2022 thus far, the BDC has provided information to 23 new business prospects on available properties, land, demographics, labor force, housing, education, infrastructure, and other relevant information. By providing market analysis, we are encouraging businesses to move to Berwyn.

Finish Line Grant Dollars

Throughout 2021, the BDC facilitated 21 events including business roundtables, corridor walks, and informational sessions. As of Q3 in 2022, we have already facilitated 16 events and we expect to host an additional 16 in Q4.

In 2021, $211,693.22 were committed to 21 buildouts and 10 marketing projects across Berwyn's 3 TIF districts. An additional $200,000 were dedicated to Project Homegrown. As of Q3 in 2022, only 9 businesses have successfully applied for a total of $151,800.03. This decrease is in part because cost of materials have drastically increased and marketing costs are no longer eligible.

One-on-One Advising

As a Community Navigator, the BDC offers one-on-one advis ing sessions to small business owners. To support as many as possible, we conduct outreach campaigns, send follow-ups, and host resource-sharing events. As a result, we have directly connected with Berwyn businesses over 43,578 times in 2022.

CONTRACT

A. Business Attraction (New Business Prospects)

a. The BDC provided information to 23 new business prospects on land, buildings, demographics, labor force, housing, education, infrastructure, 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 by way of commercial transfer stamps, business licenses, and building permit touches. This information is provided to the City of Berwyn by way of the Vacant Properties Report and Building Permit Report on a semi-annual basis.

1. The BDC continued to market the Finish Line Grant Program in Berwyn’s Roosevelt, Harlem, and Depot TIF Districts. In 2022, the BDC set aside $250,000 in the Roosevelt TIF, $250,000 in the Harlem TIF, and $150,000 to the Depot TIF.

a. The BDC committed $151,800.03 in Finish Line Grants though Q3 of 2022.

B. Business Retention and Expansion (Existing Business Prospects)

b. The BDC retention program identified the needs of existing businesses in the following ways:

i. The BDC provided information over 4,230 times via email and phone to existing businesses on economic, demographic, or commercial real estate. The BDC also sent out mailers to over 2,100 businesses. Some businesses were contacted with multiple touches, hence the large amount of retention information shared. The primary focus in Q3 of 2022 was sharing financial resources, such as the Source Grow Grant, Finish Line Grant, and Comcast RISE grant.

ii. The BDC updated information on Berwyn’s economic profile, including the available properties map, vacancy information to aldermen, and sales tax data in our annual and quarterly reports. The BDC website was also updated to reflect change in resources and policies from national, state, and local guidance.

iv. The BDC continued to maintain a database of all Berwyn businesses and work with the Permit Administrator to collect business licenses.

i. The BDC conducted 3 business corridor roundtables, 5 corridor walks, 2 informational sessions, and 1 vacant property drive. The roundtables focused on Central Berwyn, Ogden Ave, and all Berwyn businesses.

C. Miscellaneous

c. The BDC operates the Commercial Loan and Microloan pools to assist community businesses with financing options.

i. The Economic Development Team was invited to participate in the Equitable Lending Leaders Program, a 6-month series of classes focused on Berwyn’s Revolving Loan Fund. The team has attended trainings bi-monthly.

d. The BDC renewed its contract as a Community Navigator with the Cook County Small Business Source. As part of the contract, the BDC connects businesses to resources, as well as provides free one-on-one advising sessions to business owners. The BDC team provides 30-45 sessions and/or outreach per week and connects businesses to grants.

e. On behalf of the BDC, Visit Oak Park was awarded the Route 66 Grant, receiving over $340,000. In Q3, these dollars were used to install public art – mural, muffler man, and mini spindle - along Ogden Ave. Remaining funds will be used to install electrical vehicle charging stations.

f. The BDC was awarded the RISE Grant in the amount of $75,000. These funds will be used to develop an economic recovery plan for the City of Berwyn.

g. In Q3, City Council requested administrative support for the Vacancy Ordinance. This ordinance requires owners of vacant properties to secure adequate insurance, submit redevelopment plans, and/or place the property on the market. The BDC will work closely with the City to implement the program.

h. In general, the BDC leadership continues to encourage professional growth. As such, the economic development team actively participated in more than 20 seminars, trainings, or conferences. Of note, the team presented at the ACCE 2022 Convention and the 2022 ITIA Conference in Q3, highlighting the BISB Internship and Berwyn Shops, respectively.

Los Tarritos - 6241 Cermak Rd - Received a Finish Line Grant for their investment of $93,500.00

Baird & Warner - 6347 Cermak Rd - Celebrated their grand opening on September 15th, 2022

In 2022, the BDC successfully launched the Berwyn Shops: A Homegrown Project, a retail incubator designed to provide local entrepreneurs with the support they need to succeed: a storefront, business education, promotion, and resources. This inaugural season launched with 12 women-owned small businesses, offering everything from baked goods and home décor to artisanal accessories and beauty products.

Since grand opening, the 12 incredible business owners have broken sales records, sold out events, secured new contracts, expanded their followings, and even represented the Shops in the media and on TV ! Specifically, the Berwyn Shops were featured across 14 news outlets, on 2 podcasts, and at the 2022 Illinois Tax Increment Association (ITIA) Conference. We are incredibly proud of our business owners!

In addition to supporting the 12 businesses, the retail incubator has become a community space for entrepreneurs, artists, and musicians . In fact, the space hosted 19 pop-up vendors, 11 artists, and 5 musicians throughout quarter three. The Shops also collaborated with 2 non-profit organizations and 5 community leaders. As a result, 6931 Roosevelt Rd has become a destination for new be shoppers and new businesses - none of which would be possible without our 15 community partners.