Economic Development
Economic Development Planning
Shopping centers and a shifting economy have changed the
retail importance of downtowns. And suburban office parks
and new technologies have forever altered how we look at industrial
development. Camiros has helped communities address these
new realities through strategic planning, innovative public-private
financing techniques, and creative design solutions.
The firm has helped local governments assess and identify
the key impacts resulting from a proposed project and formulate
strategies and plans to assure a positive response. Examples
range from examining the impacts of the proposed Lake Calumet
airport upon Chicago area development patterns, and assessing
the development implications of the 800 acre Sears development
upon Chicago's northwest suburbs, to formulating planning
and development guidelines which direct the actions of 17
communities affected by the extension of US Route 53 into
Lake County, Illinois.
Examples of Camiros' work include:
Tax Increment Financing Services
Tax increment financing (TIF) is a technique that many communities
use to promote economic development. Camiros' experience in
preparing TIFs has been varied and allows us to understand
all aspects of the TIF process. In all of our assignments,
we focus on meeting our client's needs in a professional manner.
Camiros brings the planning perspective to all of our tax
increment financing projects. We have the technical skills
to evaluate whether or not an area meets the eligibility requirements
for designation as a blighted area or a conservation area.
We can readily evaluate whether buildings are dilapidated
or deteriorated, and the extent to which lack of community
planning or obsolescence contributes to the lack of private
investment in an area. More importantly, however, Camiros
can help to create a redevelopment plan that goes further
than simply including the element required by state statute.
We believe that the redevelopment plan must not only be consistent
with the community's comprehensive planning policies, but
should also articulate how the proposed tax increment project
will address other local development objectives.
Examples of Camiros' work include:
Revitalization Planning
When approaching a revitalization process, the strategy
proposed by Camiros is driven by the following key ideas:
1. Explore a Full Range of Options. In the initial stage,
Camiros will explore the full range of options for reuse of
the property, considering relationships to adjacent sites
and the community as a whole.
2. Consider Potential Revitalization of Other Properties.
An important consideration in developing feasible reuse options
will be to analyze the potential for other revitalization
efforts, and their possible effect on the physical and economic
environment of the community.
3. Prepare Case Studies of Other Riverfront Development Sites.
Every development situation is unique - qualitative evaluation
is at least as important as quantitative evaluation.
4. Solicit and Incorporate Community Input. The effective
solicitation and incorporation of public input is vital to
finding the best solution, and to implementing that solution.
Examples of Camiros' work include:
Fiscal Impact Studies
Camiros has broad experience in preparing fiscal impact
studies for a full spectrum of development projects. We view
fiscal impact analysis as a tool to use in gauging the overall
impacts of a proposed development upon a community. The fact
that there are a wide variety of approaches used in the industry
indicates that there is not one key method of precisely estimating
costs and revenues for a particular development. Thus, it
appears that fiscal impact analysis is probably some mix of
art and science.
Examples of Camiros' work include:
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