syracuse 20/20 onvest onondaga county quality community investment trust fund december 2008

SYRACUSE 20/20

OnvestOnondaga County Quality Community

Investment Trust Fund December 2008

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Onvest - public trust fund for: Protecting and creating community assets Replacing shrinking funding sources Establishing local funding to match other

available incentives Partnering with other governments, not-for-

profit foundations and private investors Promoting sustainable development

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What is a Quality Community?

Certain principles are important:

Invest in the center city Create, preserve and redesign neighborhoods Invest in historic villages Protect farm land and beautiful natural environment Ensure economic reuse of existing infrastructure

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Example of Investing In Center City

Hanover Square Downtown Syracuse

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Examples of Creating, Preserving and Redesigning Neighborhoods

Village of Manlius

County CD work in Nedrow - Before

County CD work in Nedrow - After

Tipperary Hill Redesign of Neighborhood

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Invest in Historic Neighborhoods

Marcellus

Baldwinsville

County CD - Baldwinsville Commercial Rehab – Before

County CD Baldwinsville Commercial Rehab – After

Village of Liverpool

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Protect Farm Land and Beautiful Natural Environment and Ensure Economic Use of Existing Infrastructure

Bussey Road, Town of Onondaga

Onondaga Lake

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What is the role of local government?

Establish the rules of developmentZoning, land use planning

Invest in infrastructureProvide direct investment often in partnership

with other governments and private investors

Plum Court, Onondaga Creekwalk & OM Edwards Building

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Why is Onvest needed?Reaching scale and sustainability difficult

with existing funding streams Fragmented government structure prevents

unified vision Planning efforts completed in isolation of a

larger community visionLimited county-wide compliance with 2010

Development Guide

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What is the relevance of the County 2010 Development Guide?

Priorities: Invest in Existing Communities Redevelop Obsolete and Vacant Sites Protect and Maintain Existing Infrastructure Create Urban and Suburban Development Patterns Preserve Transportation Assets Expand Infrastructure for Job Creation

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How does Onvest meet the need? Offers opportunity to reward compliance

with 2010 Development GuideAligns projects throughout the County with a

unified vision and planProvides a reliable local funding stream for

responsible and strategic investment in the community

Builds upon successes of SNI at the county level

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What types of projects would Onvest support?

Conversion of buildings Strategic neighborhood housing investments Elimination of outmoded buildings Environmental remediation of property and land Protection, creation and promotion of open space

and environmentally sensitive areas Protection of major architectural, historical and

cultural institutions and assets

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Conversion of Buildings

Camillus Cutlery Building

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Strategic Neighborhood Housing Investments

Genesee Street

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Elimination of Outmoded Buildings

Camillus Cutlery Building

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Environmental Remediation of Property and Land

Solvay – Former Gas Station

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Protection, Creation and Promotion of Open Space and Environmentally Sensitive Areas

Village of Fayetteville

Village of Fayetteville

Village of Fayetteville

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Protection of Major Architectural Landmarks

Erie Canal Museum

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Guiding principles of Onvest:Create a diverse governing body Implement ongoing planning processes with

focused financial resources Require leveraging of private, not-for-profit

and other governmental resourcesObtain ongoing input from diverse view

points and weigh project merits accordinglyPosition the County to compete for business

investment and to retain talented people