Who Benifits?
Merchants:
• Greater opportunity for growth and expansion
• Expanded customer base
• Less financial risk
Property Owners:
• Stable or higher rents
• Increased occupancy rates
• Improved marketability of property
• Higher property values
Financial Institutions:
• Expanded business customer base
• Expanded residential customer base
• Improved public image and goodwill
• Fulfillment of community reinvestment mandate
Professionals and Service Businesses:
• Ready-made customer base of district employees
• Location near government, banks, post office, and other institutions
• Nearby amenities for clients and staff
Chamber of Commerce:
• Potential new member businesses
• Healthier overall business climate
• Potential partnerships on joint projects
Residents:
• Local accessibility to goods and services
• Opportunities for volunteerism and leadership development
• Preservation of community for future generations
• More employment opportunities
• Stronger tax base to support other community aspects (schools, parks, etc.)
Local Government:
• Increased sales and property tax base
• Protection of property values and infrastructure investment
• Reduced cost of services, such as police and fire protection
• Reduced pressure for sprawl development
Community Partners (Civic clubs, historical societies, historic preservation organizations, religious institutions, senior citizens, arts groups, etc.):
• Improved quality of life in the community
• New membership potential among new residents
• Achievement of common goals
• Preservation of community history
Schools:
• Youth involvement in civic projects
• Use of commercial district as "classroom" for school projects
• Potential employment and business opportunities
• More places to go and activities for youths
Businesses Outside Downtown:
• Increased visitor traffic to the community
• Increase in traffic by their businesses from people traveling to and from downtown
• Improved municipal services throughout community
• Increased business from overall healthier economy
• Additional amenities for employees and clients
Industry:
• Improved quality of life makes recruiting and retaining employees easier