$$ Spend Money to Make Money $$
Focus on programs that use federal dollars to improve local long-term revenue base. For example, COVID-19 accelerated many of the economic and land use trends that are changing our cities – retail spaces (and sales tax revenues) are dragging due to e-commerce, industrial distribution is booming, and residential development is in high demand. Here are some ways to capitalize on it:
Retail Reimagination: Don’t give up on ‘experiential’ retail that creates a place for retail, entertainment, and engagement. Fund infrastructure for these projects.
Residential Renaissance: Not just a home anymore – an office (telework) and online tax generator (e-commerce). Invest in zoning changes to unlock community potential.
Not Your Father’s Industrial: The new world of industrial are cleaner distribution / delivery centers that can shore up local retail activity. Integrate industrial with retail centers and other uses.