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Economic development staff outline projects; council asks for measurable goals, market analysis for Altria site
Summary
Economic development staff presented recent project activity and site development work. Council members asked for clearer measurable objectives, staffing and funding to convert vacant property into revenue‑generating uses and requested a follow-up report with targets.
Acting Director of Economic Development Matt Welch presented a broad update on recent and upcoming development activity and programs, and council members pressed the department for a clearer set of measurable objectives and a timetable to convert city‑owned assets into revenue-generating development.
Welch summarized recent activity and major projects the department is tracking, including projects on the riverfront, an amphitheater opening, and several larger developments the department described as contributing to downtown commercial and multifamily growth. He said staff are working on performance-grant agreements, corridor work, small-business supports and a forthcoming enterprise-zone update.
Council members sought specifics: Chair Carolyn Robertson and other council members asked for a report that connects targets from the city’s master plan and economic development strategy with staffing levels, budget allocations and expected revenues over a multiyear horizon. Council members said they want to see explicit goals — for example, targets for commercial real estate value, job creation, and timelines for turning vacant city-owned parcels over to private taxable roles — and asked that the department present a detailed five‑year projection.
On the city’s recently purchased Altria site, staff confirmed the purchase price discussed in the meeting: $10,000,000, with $5,500,000 drawn from a key-acquisitions fund, leaving $4,500,000 available for other acquisitions; an earlier appropriation of $1,750,000 also remains available for other acquisitions. Staff said operations teams will begin site preparation and that the department plans a market analysis to determine highest-and-best uses for portions of the parcel.
Council directed staff to return with a more detailed, metrics-driven economic development report and asked to be engaged individually in advance so the department can deliver the specific benchmarks the council expects. Staff agreed to follow up with a more targeted presentation and data.
