BPDA’s current redevelopment projects

BPDA projects are prioritized based on the criteria set out in the Strategic Plan, which outlines the highest recommended uses for a specific location that also meet the goals of the BPDA. The Strategic Plan can be found on our Library Page under Operating Documents.  The Strategic Plan, which is to be updated every two years, as required by the Second City-BPDA Operating Agreement, ranks projects based on the best return from invested public capital, leveraged private capital investment, as well as direct or indirect contributions to the achievement of social, cultural and environmental goals and values.

The Strategic Plan addresses the first five years of set-up and operation of the BPDA.  Given the continuing challenging economic and financial conditions, capital resources must be expended effectively.  The plan ranks the various properties owned by the City for which management or ownership responsibility is being conveyed to the BPDA.  The plan identifies those properties and future projects that merit the assignment of highest priorities for allocation of limited staff and capital reosources for more detailed research and project planning prerequisite to the future development of these projects.  These projects may be undertaken directly by the BPDA, or jointly with a number of owners for surrounding properties, or through the conveyance of the properties to third parties for development.

Comparative evaluations of the properties reflect a subjective assessment of the conceptual development potentials for each property and an assessment of conditions affecting the development of projects envisioned for the properties.  The evaluation also measures each project's "payoff" in achieving economic or financial goals and fulfilling public goals.  The evaluation critera are:

1. Project contribution to the achievement of goals and objectives;
2. Project land assemblage requirements;
3. Site environmental remediation requirements;
4. Conflicting or non-supporting uses in project environs;
5. Prerequisite public infrastructure requirements;
6. Project interdependencies; and
7. Alternative funding sources (e.g., grant eligibility).

The relative contribution of each project to the achievement of goals and objectives is the most important.  Eleven goals were defined that tie back to the BPDA Mission Statement and are directly related to the BPDA's purpose and ongoing operations:

1. Organization Set-Up and General Management;
2. Implementation of City Plans, Achievement of Plan Development Objectives;
3. Project Timing and Property Values;
4. Asset Enhancement;
5. Financial:  Organizational Sustainability;
6. Financial:  Invested Public Capital;
7. Financial:  Invested Private Capital;
8. Economic Development;
9. Public Revenue Generation;
10. Social, Cultural and Educational; and
11. Environmental technologies and applications, resource conservation.

The Army Street, 600 West Holly Street, 1100 Cornwall, Cornwall Beach and Federal Building projects are slated as the first projects under the BPDA's purview. Developing these sites – which are a mix of publicly and privately-owned property – will provide enhanced asset values and spur improved development feasibility for surrounding areas influenced by each project.