A Vibrant Business Area Along CULLY BLVD?
What would you like your Cully Blvd to look like – and feel like – in the future?
- What types of neighborhood stores and services do you want and need?
- What district improvements will help local businesses thrive?
The Opportunity Is Here!
YOU have the opportunity to help create a vibrant Cully Blvd business district by getting directly involved in the Neighborhood Prosperity Initiative (NPI).
The goal of this newly launched initiative of the Portland Development Commission (PDC) is to strengthen the economic competitiveness of neighborhood business districts. Cully Blvd is one of six areas in the city proposed for inclusion in the NPI, offering a chance for our community to use locally generated dollars to accomplish targeted projects in our own local business district. Potential capital improvements could include such things as: district signage, lighting, gateway markers and storefront improvements. The focus of the Cully Blvd NPI will be:
- To increase the visibility of our evolving business district along Cully Blvd
- To help create more local, living wage jobs
- To strengthen existing businesses
Why Get Involved? Because you can help determine the vision for Cully Blvd and what priority projects and program assistance will make that vision a reality. You can participate by:
- Sharing your thoughts and ideas
- Joining the Cully Blvd Alliance – the project’s local leadership group
- Volunteering time, expertise and resources to help make the Cully Blvd NPI a reality
- Helping to inform and involve others
How will the Portland Development Commission (PDC) Support the Project?
PDC will calculate the Tax Increment Financing (TIF) available to be used for the Cully Blvd. NPI priority projects. They also anticipate providing an annual allotment of seed funding (city general funds) to match community fundraising to hire a local district manager. Additionally, PDC offers ongoing technical assistance in the form of training, small business development services, and coordination with companion programs sponsored by City agencies, Multnomah County and non-profit organizations.
Cully Blvd NPI project funding would begin in early 2014, and over the life of the NPI district, an estimated total of $1,000,000 would be available for priority projects.
A Word about the Community-generated Funds component:
Not all of the NPI funds will be coming from PDC. The community must raise an initial $3,000 to launch the Cully Blvd. NPI, and also commit to raising $15,000-$30,000 annually for the seven year project period. These community-generated funds are to be used to hire a local district manager to successfully implement the program. It should be noted that the Main Street approach, an established federal program that the NPI is loosely based upon, has delivered a return of $25 for every dollar invested.
What are the Next Steps to Pursue the Cully Blvd NPI?
A core group of volunteers is currently reaching out to the Cully Blvd. community to generate interest in the Neighborhood Prosperity Initiative. This effort is being coordinated by part-time local staff paid for by a PDC planning grant. A community-wide kickoff event is scheduled for: Thursday, January 26th, 2012, from 7-9 pm at Grace Presbyterian Church, 6025 NE Prescott St, Portland OR, 97218.
PDC has set the following process deadlines:
By the end of January, 2012 the Cully Blvd Alliance must submit a Letter of Interest indicating the following:
- Proposed Cully Blvd district’s boundary for TIF funding;
- 5-10 identified key community people, with broad-based representation, who commit to certain volunteer hours and project leadership tasks;
- Identification of an organizing group, reflective of the diversity of the Cully Blvd community, to oversee project finances and investments;
- Acknowledgement by the community of the need for annual fundraising ($15,000-$30,0000).
By the end of February, 2012 the Cully Blvd Alliance must submit these follow-up materials to PDC:
- Commitment letters indicating that $3,000 has been raised for start-up of the Cully Blvd NPI;
- Proposed vision and goals; outline of an action plan to strengthen the business districts economic competitiveness. Note: all donations are tax-deductible.
This is to be a community-driven planning and action effort. A broad cross-section of people representing our business community, residents, property owners, and community groups is needed to help identify, prioritize, and implement important capital improvement projects. The Cully Blvd NPI offers an economic development opportunity that builds upon, and supports, Cully’s Main Street program and other neighborhood improvement efforts.
