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Q4 2019 EAKC Bod Report

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Q4 2019 EAKC Bod Report Q4 2019 Board Report Olivet Nazarene University, Bourbonnais, IL Thursday, November 14, 2019 ANNOUNCED CAPITAL INVESTMENT 2019 Click for the full “7 Key Economic Indicators” report. Splash Valley Reopening May 2020 • $2 million renovation • 75-100 PT jobs created • Features: Eight- to 10-lane, 60-meter swimming pool with diving boards, ranging in depth from 3 to 12 feet. New splash pad. • Ribbon cutting set for 11-13-19 EMPLOYMENT • Illinois businesses added jobs in 13 of 14 metro areas in September. • Unemployment rates decreased over-the-year in September in 12 of Illinois’ metropolitan areas, increased in 1, and was unchanged in 1. • The industry sectors recording job growth in the majority of metro areas included Mining and Construction (11 of 14), Education and Health Services (10 of 14), Government (10 of 14), Transportation, Warehouse and Utilities (9 of 14), Leisure and Hospitality (9 of 14) and Manufacturing (8 of 14). EMPLOYMENT Click for the full “7 Key Economic Indicators” report. BOURBONNAIS PARKWAY DEVELOPMENT AREA • NEW TENANT ANNOUNCEMENT • 4882 North Convent St., Bourbonnais, IL 60914 • Occupying 25,000 SF, approximately 1/3 of first level Click image to access Alliance property portal. Development plan complete 3,000 acres, utilities in place 1,400 acres industrial TIF property 5-year property tax abatement for qualifying new construction BOURBONNAIS PARKWAY DEVELOPMENT AREA 4882 North Convent Street, Bourbonnais, IL 60914 • Ownership now open to divisions as small as 25,000 SF for remaining 125,000 SF. • Lease rate negotiable • IT Infrastructure: 2,000 CAT 5 ethernet drops, 2,000 kw backup generator and UPS power management module • Prospective uses include headquarters, back office/call center, data center, disaster recovery, business incubator, prof. services. • CLICK IMAGE for property specifications. Photo credit: The Daily Journal MANTENO DIVERSATECH BUSINESS PARK 1260 Sycamore Rd, Manteno, IL 60950 • Cold storage facility acquired to serve Momence- based Van Drunen Farms and FutureCeuticals • 10-12 new FTE anticipated • Renovations ongoing, startup anticipated Q1 2020 Photo courtesy the Daily-Journal MANTENO DIVERSATECH BUSINESS PARK 1600 Boudreau Rd, Manteno, IL 60950 • Former Sears Holdings/Innovel property available for lease. • Divisible to 250,000 square feet • CLICK IMAGE to visit Colliers property site. • Last-mile solution for Fulfillment by Amazon(FBA) businesses MANTENO DIVERSATECH BUSINESS PARK 1125 Sycamore Rd., Manteno, IL 60950 • Rail served • Expandable • CLICK IMAGE for CBRE property specifications. BRADLEY ROUTE 50 COMMERCIAL CORRIDOR NEW AVAILABILITY • Fully occupied retail strip center • 1630 N. State Route 50, Bourbonnais, IL 60914 • CLICK IMAGE to access property specs. Click image to access Alliance property portal with 30+ Route 50 Corridor properties for sale or lease. KANKAKEE RIVERFRONT OPPORTUNITY ZONE Accelerating Interest in Redevelopment and Ground-up Development HISTORIC DOWNTOWN & RIVERFRONT TIF DISTRICT DEVELOPER #1: PNC Building redevelopment using LIHTC. DEVELOPER #2: $100 million in market-rate mixed-use/multifamily downtown and riverfront over 5-6 years using HTCs, NMTCs, OZ funding. Potential to expand footprint to Momence Historic District. DEVELOPER #3: Downtown redevelopment of multiple signature properties for mixed-use/market-rate multifamily using HTCs, OZ, etc. DEVELOPER #4: Riverfront market-rate multifamily. DEVELOPER #5: Riverfront hotel. DEVELOPER #6: Redevelopment of historic Riverfront property for hospitality use. KANKAKEE RIVERFRONT OPPORTUNITY ZONE Accelerating Interest in Redevelopment and Ground-up Development HISTORIC DOWNTOWN & RIVERFRONT TIF DISTRICT POLICIES, PROGRAMS & DATA SUPPORTING NEW DEVELOPMENT: 1. 2019 Multifamily Market Analysis (developer funded) 2. Complete Property Inventories - Downtown & Riverfront 3. Kankakee Riverfront TIF Plan 4. Kankakee Riverfront Opportunity Zone Prospectus 5. Design Guidelines (new construction) 6. Zoning Strategy 7. Property Acquisition Strategy 8. Entrepreneurial Support Strategy 9. Resident/Property Owner Engagement Strategy 10.Promotional/Reporting Strategy 11.Public Financing Strategy KANKAKEE RIVERFRONT OPPORTUNITY ZONE Riverfront Master Plan Implementation Team News • Kankakee Riverfront Society is now a formal entity created for the solicitation of private funding. • Lighting concepts for Washington Ave. and Schuyler Ave. bridges being prepared. Funded by Kankakee River Valley Enterprise Zone (KRVEZ) • Brand strategy, including website development, underway. Partially funded by KRVEZ. • City applied for Open Space Land Acquisition and Development (OSLAD) and Land and Water Conservation Fund (LWCF) grants fiscal year 2020. • Initial Riverfront Design Guidelines prepared to support private-sector investment. • Riverfront TIF District and Historic Downtown District property inventories completed. KANKAKEE RIVERFRONT OPPORTUNITY ZONE Riverfront Master Plan Implementation Team News • City of Kankakee owns 3 out of 6 properties that define the proposed Kankakee Riverwalk. • City Council voted to move forward on purchasing 2 west river street properties. EASTERN EMPLOYMENT HUB • Regional Positioning Plan in development • Goal: A multi-dimensional strategy that leverages the community’s unique resources and market characteristics to effectively compete for new residents, business and visitors. • Hitchcock Design Group consulting • 3-phase, 8-month project • Public survey component completed EASTERN EMPLOYMENT HUB MGM and FX Networks filming "Fargo" Season 4 into Spring 2020 EASTERN EMPLOYMENT HUB REAL ESTATE DEVELOPMENT EVENTS JOIN US! (Click image for event details.) TALENT DEVELOPMENT & OUTREACH • NEW Solar Training Academy • Held @ KCC’s new Advanced Technology Education Center • NABCEP (North American Board of Certified Energy Practitioners®) Associate Level exam readiness • January 25 – March 28, 2019 • Click image for program details. TALENT DEVELOPMENT & OUTREACH Blog series exploring how significant national economic, workforce, community development and lifestyle trends are playing out locally • Project of Talent Outreach Committee of the Grundy Livingston Kankakee Workforce Board • 5:15 Media partnership • Next “Cue:” Village of Manteno livability assets TALENT DEVELOPMENT & OUTREACH Q4 Meeting 12/5/19 INFO: Laura Siemsen 815-935-0074 [email protected] TALENT DEVELOPMENT & OUTREACH ENTREPRENEURIAL DEVELOPMENT MARKETING PROMOTION MARKETING MATERIALS CLICK IMAGE for magazine download. Contact the Economic Alliance or Daily-Journal for print quantities. OPERATIONS STATE OF THE ECONOMY PRESENTATIONS Kankakee Iroquois Ford Association of Realtors State of Kankakee County Breakfast Kankakee Development Corp. Annual Meeting To schedule a State of Economy presentation for your leadership staff or board of directors, contact the Economic Alliance at 815.935.1177. CALENDAR Industrial Hemp Basics, Pembroke Township November 16 State of Illinois Opportunity Zones Summit, Chicago November 18 Reducing Redevelopment Cost with Historic Tax Credits Part 2, Kankakee November 19 Graduate & Get Paid Educator Employer Tour, Kankakee County November 19 Illini Days Luncheon, Chicago November 22 Q4 Kankakee County Talent Outreach Meeting, Kankakee December 5 Kankakee Area Human Resources Managers Assoc. (KAHRMA) Recruitment Panel, Bradley December 11 RE Journals Commercial Real Estate Forecast Conference, Chicago January 9 Tentative 2020 Alliance Board of Directors Meeting Dates: • February 13 • April 9 • June 11 • September 10 • November 12 COMMITTEE/BOARD PARTICIPATION 2019 RESearch Kankakee County, IL – Development Showcase SCORE! Kankakee County, IL @ Chicago Bears Training Camp City of Kankakee Riverfront Implementation Team United Way Campaign 2019 Rep. Lindsay Parkhurst Business Advisory Council Samaschool + Kankakee – Growing the Gig Economy Illinois Route 50 Corridor Study Northfield Square Mall Redevelopment Task Force Kankakee County Convention & Visitors Bureau Community Foundation of Kankakee River Valley Grundy Livingston Kankakee Workforce Board Talent Outreach Subcommittee Kankakee County Chamber of Commerce Business Development & Entrepreneurship Committee Workforce Partners of Metropolitan Chicago (WPMC) Regional Apprenticeship Navigator partner Kankakee Area Human Resource Managers’ Association marketing partner Kankakee Community College Business/Office Professional Advisory Committee Kankakee Community College Manufacturing Technology Advisory Committee Education & Employment Action Team for the Partnership for a Healthy Community’s MAPP initiative Kankakee Area Career Center Executive Advisory Committee President/CEO Timothy Nugent.
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