Free Agency in Sports and Economic Development
Over the past few months the media has covered stories about several high profile free agent signings and teams handing out big contracts to keep their biggest attractions in town. The Angels lure Albert Pujols from St. Louis with an offer worth hundreds of millions of dollars, Derrick Rose extends his contract with the Chicago Bulls, Peyton Manning leaves the City of Indianapolis for Denver, Sears recommits to Illinois. Wait what was that last one? Sears was essentially a free agent, shopping the market for the best offer much the same way that a sports star weighs offers from other teams. It happens on the big stage, LeBron James “taking his talents to South Beach” and in suburbia; Home Depot moves a quarter mile away on the same commercial corridor, but to a neighboring municipality offering tax abatement.
As with team owners, municipalities need to weigh the potential benefits and downsides of long-term financial commitments to developers and retailers. Equally, there are pressures from fans/residents that demand that leadership attract the best players/businesses.
In both worlds, commitments that are performance based are the safest. When tied to job creation, sales or tax revenue generation there is some level of assurance that both parties have some skin in the game. If things do not work out as planned, the risk of loss to the municipality is not as great. However, in a competitive world, nonguaranteed or front loaded contracts and incentives are needed and/or necessary. In today’s economy, the need for exhaustive due diligence is critical. Regardless of how attractive that “free agent” may seem, municipalities need to make sure that the project and deal is properly vetted through eligibility studies, market analysis, fiscal or economic impact analysis, detailed review of proformas and other appropriate methods. In the end, a win for the municipality will be measured in dollars, jobs and collateral development. A loss will be omnipresent in the form of a partially developed or vacant site providing little or no benefit to the taxpayers.
2012 APA Conference
2012 APA Conference…
They came, they saw, we presented!
Every April the American Planning Association holds its National Conference. This year it's in Los Angeles, and Houseal Lavigne Associates will once again be well represented. Between three presentations and our exhibitor booth, we hope you have a chance to meet up with us. Here's what you need to know:
HLA Attendees
- John Houseal-Principal and co-founder
- Devin Lavigne-Principal and co-founder
- Dab Gardner-Principal Associate
- Brandon Nolin-Senior Associate
- Doug Hammel-Senior Associate
- Nik Davis-Senior Associate
Presentations
AICP Examination Preparation (session registration required)
HLA Presenters: Brandon Nolin and Doug Hammel
Date and Time: Saturday April 14, 8:00 a.m. – 12:00 p.m.
Prepare for the AICP exam with the help of chapter professional development officers who offer tips and focused training in the exam format, content, and topic areas. Learn about the application process and gain insights for success.
Better Graphics, Better Plans
HLA Presenters: John Houseal and Devin Lavigne
Date and Time: Saturday April 14, 9:00-10:15 a.m.
Successful plans inspire and create excitement. To do so, they need more than text and maps. Move beyond the basics and discover how basic design principles – including typography, color palettes, paper and media, and digital file types – can make a plan sparkle. Make your plan easy to use and understand–a necessity these days given enhanced online accessibility.
Fast, Funny, and Passionate Two
HLA Presenter: Dan Gardner
Date and Time: Monday April 16, 5:30-7:00 p.m.
These short, timed, 7-minute presentations take up overlooked topics in planning or delve into a passionate perspective on why planning matters. Hear planners open up about what excites them. Presenters discuss case studies, present personal perspectives, or provide an imaginative insight into planning. HLA's Dan Gardner will present "Where's the Clock Tower? Integrating Economic Development & Planning Initiatives."
HLA Exhibitor Booth
Once again, HLA is an active sponsor of the APA, and will be hosting a booth in the exhibit hall. Come by and get a hands-on look at our ground-breaking web-based SMAP (Social Mapping Application) tool.
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