HomeMy WebLinkAboutEPS Team Response_Economic Development, TIF Projects and Development Planning_4-5-21
Proposal
Professional Services in Support of
Economic Development,
Tax Increment Finance Projects,
and Development Planning
Prepared for:
City of Bozeman
Prepared by:
Economic & Planning Systems, Inc.
with
and
EPS #213051
April 5, 2021
Table of Contents
a) Executive Summary .......................................................................................... 3
b) Firm/Team Profile ............................................................................................. 7
c) Firm Qualifications ............................................................................................ 9
d) Related Experience with Projects Similar to the Scope of Services .......................... 21
e) Recent and Current Work for the City of Bozeman ............................................... 30
f) References .................................................................................................... 31
g) Price Proposal ................................................................................................ 32
h) Affirmation of Nondiscrimination ....................................................................... 33
April 5, 2021
Mr. Mike Maas
City Clerk
City of Bozeman
PO Box 1230
Bozeman, MT 59771-1230
Subject: Proposal for Professional Services in Support of Economic
Development, Tax Increment Finance Projects, and
Development Planning; EPS #213051
Dear Mr. Maas:
Economic & Planning Systems, Inc. (EPS) is pleased to submit this
proposal for professional services related to Economic
Development, Tax Increment Finance Projects, and Development
Planning for the City of Bozeman. We would be most interested in
continuing to provide these services to the City.
EPS is a full-service economic consulting firm with 46 professional
staff in offices in Denver, Colorado and Oakland, Sacramento, and
Los Angeles, California. Founded in 1983, EPS has a broad-based
practice in land use economics and policy formation. The firm has
worked with a wide range of public and private clients throughout
the nation and has established a reputation for both rigor and
creativity.
As a central part of its consulting practice, EPS has been involved
in the full range of services anticipated to be required under this
contract including economic development plans, real estate market
and financial analysis, tax increment financing projects, public-
private partnerships, and development and redevelopment
planning at the neighborhood, corridor, and citywide level.
This project, although focused on economic development planning,
real estate financing, and development design and regulations, has
some overlap with the companion RFP for Economic Development
and Housing Finance, particularly as it relates to applications of tax
increment financing (TIF) and P3 financing structures. Many of our
projects also cover both topics, and our TIF and other public
financial evaluations are most often dependent on our knowledge
of the real estate market development conditions and potentials.
We are therefore proposing the same core team of EPS senior staff
for both projects.
Mr. Mike Maas April 5, 2021
Page 2
Daniel R. Guimond, Principal of EPS, will be the principal in charge and Brian Duffany,
Executive Vice President of EPS, will be the project manager and day-to-day contact for
this assignment. They will be supported by other senior EPS staff including Tim Morzel,
Vice President for financial analysis and P3s, and Rachel Shindman, Senior Associate, for
economic development and housing planning and budgeting.
We are pleased to be joined by Bridge Economic Development for Economic Development
Planning services including Principal and Owner Alisa Pyszka, who has worked with the
City on previous economic development plans. We are also pleased to be joined by the
principals of Agency Landscape + Planning, Brie Hensold and Gina Ford; they will address
Building and Development Conceptualization as well as design-related regulations and
development code analysis.
The attached proposal includes our Firm/Team Profile, Qualifications, Previous Experience
in Bozeman, References, and Price Information. We look forward to hearing from you and
to the opportunity to continue to work for the City of Bozeman.
Sincerely,
ECONOMIC & PLANNING SYSTEMS, INC.
Daniel R. Guimond Brian Duffany
Principal Executive Vice President
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
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a) Executive Summary
Team Profile
Economic & Planning Systems will be the lead consultant and will be involved in all
four areas of work included in the scope of work in this RFP, as well as be responsible for
overall project management and coordination. Bridge Economic Development will be a
subconsultant for 1. Economic Development Strategy and Implementation. Agency
Landscape + Planning will be a subconsultant for 4. Building and Conceptualization.
Agency will also provide development code and regulations analysis as part of the 1.
Economic Development Strategy and Implementation task.
• Economic & Planning Systems, Inc. (EPS) is a land economics consulting firm
experienced in the full spectrum of services related to real estate development, the
financing of public infrastructure and government services, land use and conservation
planning, and government organization.
• Bridge Economic Development, LLC (Bridge) is a Portland-based firm specializing
in economic development strategies, action plans, community assessments, and
economic development marketing. Bridge is also a Women Business Enterprise that
has been in business for three years.
• Agency LP is a landscape design and planning firm based in Cambridge engaged a
full spectrum of design services - from strategic planning to complex public realm
implementation. Agency is woman-owned small business (WOSB) and certified
DBE/WBE practice.
Qualifications
1) Economic Development Strategy and Implementation – EPS assists cities and
other public entities seeking to attract investment and grow the local economy. While
EPS is well known for land use-driven economic development strategies, we also are
well versed in economic data-driven analyses for identifying target industries as well
as approaches to business attraction and retention. Our economic development
services will be supplemented by our subconsultant, Bridge Economic Development.
2) Economic Development and Real Estate Financial Analysis – EPS provides a
research-based assessment of market fundamentals to determine the viability of land
use plans and real estate projects. We have completed area-wide and project specific
market and feasibility analysis throughout the country including in the
Bozeman/Gallatin County region.
3) Public-Private Partnerships – EPS combines public-and private-sector resources
for innovative development projects and partnerships. Our feasibility work relies on
pro forma cash flow models that test feasibility under a range of project alternatives,
market assumptions, financing alternatives, partnership options, disposition
CITY OF BOZEMAN
4
strategies, and measures of financial return. Many of our financial analyses involve
determining the required and appropriate amount of TIF funding needed to address a
financing gap using a project specific pro forma model to conduct a “but for” analysis.
We also structure more complex financings for P3s involving multiple public and
private revenue sources.
4) Building and Development Conceptualization – EPS has a long history of
redevelopment and revitalization planning including mixed use district and corridors.
We evaluate existing land uses to identify the most stable and viable uses to build
around and focus on underutilized properties for redevelopment identifying
opportunity sites. Agency LP will be responsible for development conceptualization of
these development concepts and plans.
EPS Project Team – Daniel R. Guimond, Principal, will be the Principal in charge and
responsible for overall product delivery. He will also work with Tim Morzel and provide
direction and strategy on 3. Public-Private Partnerships. Brain Duffany, Executive Vice
President, will be the project manager and day-to-day contact. will focus on and direct 2.
Economic Development and Real Estate Analysis. Tim Morzel, Vice President, will be the
senior financial analyst and conduct analyses under 3. Public-Private Partnerships
including TIF financial analyses and modeling. Rachel Shindman, Senior Associate, will
focus on regional growth trends and real estate development conditions and provide
support on economic development plans and strategies.
Bridge ED Team – Alisa Pyszka, Principal, will be primarily responsible for 1. Economic
Development Strategy and Implementation.
Agency LP Team – Brie Hensold, Planning Principal, will be responsible for 4. Building
and Development Conceptualization including planning, design, and regulatory and code
analysis; Gina Ford, Principal Landscape Architect, will be responsible for Building and
Development Conceptualizations; and Rhiannon Sinclair, Senior Planner, will be a senior
planner and designer.
Daniel R. Guimond, Principal of EPS, will be the principal in charge and Brian Duffany,
Executive Vice President of EPS, will be the project manager and day to day contact for
this assignment. They will be supported by other senior EPS staff including Tim Morzel,
Vice President for financial analysis and Rachel Shindman, Senior Associate for economic
development and housing planning and budgeting.
Related Experience
1. Economic Development Strategy and Implementation
Castle Rock Economic Development Strategic Plan -
Greater Portland Comprehensive Economic Development Strategy (CEDS)
2. Economic Development and Real Estate Financial Analysis
Bozeman Growth Policy Update
Downtown Waco Market Study and TIF Investment Strategy
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
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3. Public-Private Partnerships
Urban Renewal and Public Private Partnership Advisory Services
Encore Condos and Town Parking Garage Public Private Partnership
4. Building and Development Conceptualization
Downtown Littleton Design and Zoning Guidelines
Bozeman Downtown Master Plan
Recent and Current Bozeman Work
EPS
• Demographic and Real Estate Market Assessment for Growth Policy Update (2017)
• Tax increment Finance Project Reviews (2018-2021)
Bridge ED
• Parking Management Public Engagement Strategy
• Economic Development Strategy (while at Leland Consulting Group)
• Midtown Redevelopment Strategy (while at Leland Consulting Group)
Agency Landscape + Planning
• Bozeman Downtown Master Plan – Visioning process and near and long-term
recommendations for capital improvement projects, policy, and code revisions.
References
EPS
Maureen Phair, Executive Director, City of Arvada | 720.898.7062 | mphair@arvada.org
Kathleen Osher, Director of Community Services, City of Littleton | 303.795.3755
kosher@littletongov.org
David Corliss, Town Manager, Town of Castle Rock | 303.660.1374 |DCorliss@crgov.com
Bridge Economic Development
Brit Fontenot, Director of Economic Development, City of Bozeman | 406.582.2258
bfontenot@bozeman.net
Agency Landscape + Planning
Chris Naumann, (former) Executive Director, Downtown Bozeman Partnership
406.570.5758 | cnaumann@sandersonstewart.com
CITY OF BOZEMAN
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Price Proposal
EPS will on a time and materials basis with a not to exceed maximum for assigned
project tasks. Hourly rates range from $240/hr. for principals, $185 to $215/hr. for vice
presidents, $155/hr. for senior associates, and $105/hr. for research analysts.
Bridge Economic Development will bill Alisa Pyszka, Principal at $200/hr.
Agency LP will bill principals at $250/hr. and senior planners at $100 /hr.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
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b) Firm/Team Profile
Economic & Planning Systems will be the lead consultant and will be involved in all
four areas of work included in the scope of work in this RFP, as well as be responsible for
overall project management and coordination. Bridge Economic Development will be a
subconsultant for 1. Economic Development Strategy and Implementation. Agency
Landscape + Planning will be a subconsultant for 4. Building and Conceptualization.
Agency will also provide development code and regulations analysis as part of the 1.
Economic Development Strategy and Implementation task. A brief profile for each firm is
presented below.
Economic & Planning Systems, Inc. (EPS) is a land economics consulting
firm experienced in the full spectrum of services related to real estate
development, the financing of public infrastructure and government
services, land use and conservation planning, and government organization.
EPS was founded on the principle that real estate development and land use-related
public policy should be built on realistic assessment of market forces and economic
trends, feasible implementation measures, and recognition of public policy objectives,
including provisions for required public facilities and services. The firms’ areas of
expertise are as follows:
Since 1983 EPS has provided consulting services to hundreds of public- and private-sector
clients in Colorado and throughout the United States. EPS is located in Denver, Colorado,
and Oakland, Sacramento, and Los Angeles, California. EPS clients include cities, counties,
special districts, education and other non-profit institutions, multi-jurisdictional
authorities, property owners, developers, financial institutions, and land use attorneys.
The professional staff of 46 includes specialists in public finance, real estate development,
land use and transportation planning, government organization, and computer
applications. The firm excels in preparing concise analyses that disclose risks and
impacts, support decision making, and provide solutions to real estate development and
land use-related problems.
CITY OF BOZEMAN
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Bridge Economic Development, LLC (Bridge) is a
Portland-based firm specializing in economic development
strategies, action plans, community assessments, and
economic development marketing. The firm provides
exceptional data-driven analysis coupled with honest
conversations and our grounded experience to shape a strategy that is distinct for each
client. We are passionate about collaborating with our clients to deliver actionable steps
to grow an economy that serves the entire community. Setting us apart from other firms
is the prior experience of our principal Alisa Pyszka working within a regional economic
development organization and managing a municipal economic development department.
We have first-hand knowledge of available local tools, and the barriers that organizations
must overcome, to implement a successful strategy including multiple partners. Bridge is
also a Women Business Enterprise that has been in business for three years.
Agency LP is a landscape design and planning firm based
in Cambridge, Massachusetts. Our work engages the full
spectrum of design services - from strategic planning to
complex public realm implementation. It is tied together
by a commitment to public sector work with deep community engagement. We have a
significant practice dedicated to urban planning, from the regional to district scale, and a
team of twelve designers and planners. Agency is a mission-driven practice dedicated to
addressing social equity, cultural vitality and environmental resilience through design
excellence, strategic planning and community engagement. Beyond our core team, we
have formed a network of diverse and innovative thinkers across the country that share
our passion for social good, resilience and the power of public space. Together, we
represent a broad cross-section of specialized knowledge and skills. Our partners, like us,
believe a more resilient and equitable approach to planning and design will lead to more
relevant, contextual and vibrant public environments. Agency is woman-owned small
business (WOSB) and certified DBE/WBE practice.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
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c) Firm Qualifications
1) Economic Development Strategy and Implementation
EPS assists cities and other public entities seeking to attract investment and grow the
local economy. While EPS is well known for land use-driven economic development
strategies, we also are well versed in economic data-driven analyses for identifying target
industries as well as approaches to business attraction and retention. EPS provides a
range of services necessary to fund and build community facilities and capital
improvements and provide for their ongoing operation and maintenance. We strive to
prepare achievable financing plans that respond to public and private objectives and
make creative use of available financing. We also assess the impacts of capital financing
alternatives on project feasibility and public finance in the context of project negotiations.
Our economic development services will be supplemented by our subconsultant, Bridge
Economic Development. In addition to the Portland Economic Development Plan profiled
below, Bridge principal Alisa Pyszka, (while at Leland Consulting Group) prepared an
update to the City’s economic development strategy. The strategy evaluated its traded
sector industrial strengths through data analysis, research, and stakeholder interviews. The
strategy provides immediate recommendations for fostering the economic base within the
City based compared with the surrounding county. At the same time, this strategy outlines
how the City can work toward a more regional approach of collaboration to accommodate
the significant ongoing and anticipated growth withing the broader metropolitan area.
2) Economic Development and Real Estate Financial Analysis
EPS provides a research-based assessment of market fundamentals to determine the
viability of land use plans and real estate projects. We have completed area-wide and
project specific market and feasibility analysis throughout the country including in the
Bozeman/Gallatin County region. Our analyses consider the full range of factors affecting
real estate demand and supply, including socioeconomic trends, real estate performance,
and consumer preferences. Our expertise covers the full range of real estate product
types, including residential, retail, office, R&D, industrial, hospitality, and entertainment.
EPS financial feasibility analyses evaluate the expected economic performance of real
estate development projects, drawing on market research concerning product values,
analysis of construction costs, and an understanding of investor objectives.
These real estate market and financial analyses are done at the project specific and
citywide level. They are often completed for public clients to inform the development
issues for downtown, corridor, and citywide comprehensive plans including the Bozeman
Land Demand Study and Waco Downtown Market Study projects profiled in Section d.
below. We are currently completing similar growth forecasts and real estate land demand
studies for Pueblo County, Colorado, CitiCenter Charlotte, North Carolina, La Crosse,
Wisconsin, to mention just a few.
CITY OF BOZEMAN
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3) Public-Private Partnerships
EPS combines public-and private-sector resources for innovative development projects
and partnerships. Our feasibility work relies on pro forma cash flow models that test
feasibility under a range of project alternatives, market assumptions, financing
alternatives, partnership options, disposition strategies, and measures of financial return.
Many of our financial analyses involve determining the required and appropriate amount
of TIF funding needed to address a financing gap using a project specific pro forma model
to conduct a “but for” analysis. We also structure more complex financings for P3s
involving multiple public and private revenue sources.
One of our most innovative P3 partnerships was for Denver Union Station. The historic
train depot building was renovated for a hotel with a public train lobby and retail and
restaurant space on the ground floor. EPS conducted market studies to identify viable
reuse options, assisted with a developer RFP solicitation and evaluation of development
proposals, and provide financial analysis of business terms for the transit agency RTD to
negotiate a long-term lease on the building. The P3 for this project included RTD (the
transit district), City of Denver, and a development partnership including the master
developer, hotel operator, and a retail development partner. This work was completed in
2012. However, EPS has continued to provide real estate market and financial analyses
under two on-call contracts for other unsolicited joint developments (P3s) on other RTD
station properties including Alameda Station, I-25/Broadway, and 29th and Welton.
4) Building and Development Conceptualization
EPS has a long history of redevelopment and revitalization planning including mixed use
district and corridors. We evaluate existing land uses to identify the most stable and
viable uses to build around and focus on underutilized properties for redevelopment
identifying opportunity sites. We work in collaboration with planning and urban design
firms to define market-viable development programs for catalyst developments in terms
of product types, densities, and pricing.
Agency LP will be responsible for building and development conceptualization of these
development concepts and plans. In addition to the Bozeman Downtown Master Plan
profiled below, Agency LP, as part of their planning and design practice, has provided
planning and urban design conceptualizations on the Fort Wayne Riverfront Plan in
Indiana and the Raleigh Downtown Master Plan in North Carolina, among others.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
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Team Organization Chart
The key personnel from each firm and their primary roles are summarized below and
shown in the Figure 1. The educational background and relevant experience are shown
in the following résumés.
Figure 1. Team Organization Chart
Economic & Planning Systems
Daniel R. Guimond, Principal, will be the Principal in charge and responsible for overall
product delivery, quality control, and team coordination. He will also work with Tim
Morzel and provide direction and strategy on 3. Public-Private Partnerships.
Brain Duffany, Executive Vice President, will be the project manager and day-to-day
contact. Brian is also the most knowledgeable and experienced in the Bozeman and
Gallatin County region and will focus on and direct 2. Economic Development and Real
Estate Analysis as well as on 3. Public-Private Partnerships.
Tim Morzel, Vice President, will be the senior financial analyst and conduct analyses
under 3. Public-Private Partnerships including TIF financial analyses and modeling.
Rachel Shindman, Senior Associate, will focus on regional growth trends and real estate
development conditions and provide support on economic development plans and strategies.
Bridge Economic Development
Alisa Pyszka, Principal, will be primarily responsible for 1. Economic Development
Strategy and Implementation.
CITY OF BOZEMAN
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Agency Landscape + Planning
Brie Hensold, Planning Principal, will be responsible for 4. Building and Development
Conceptualization including planning, design, and regulatory and code analysis.
Gina Ford, Principal Landscape Architect, will be responsible for 4. Building and
Development Conceptualization.
Rhiannon Sinclair, Senior Planner, will be a senior planner and designer.
Economic & Planning Systems, Inc.
The Economics of Land Use
730 17th Street, Suite 630 Denver, CO 80202
303.623.3557 dguimond@epsdenver.com www.epsys.com
Daniel R. Guimond
Principal
ABOUT
Daniel Guimond, Principal, is an economist and planner with over 35 years’ experience in economic and financial analysis and development planning for the public and private sectors. He has specialized in urban redevelopment and revitalization including more than 40 projects in both large scale and infill settings. These assignments include market and financial feasibility, development potentials, feasibility and public financing, and implementation strategies and developer selection and negotiation. He has managed on-call economic consulting contracts in Colorado with Fort Collins, Arvada, and Urban and Renewal Authority and RTD-Denver Transit.
SELECTED PROJECT MANAGEMENT EXPERIENCE
Denver Union Station Master Plan and Developer Negotiations, Denver, CO
Part of a multidisciplinary team to prepare a master plan for DUS including the historic train station, surrounding undeveloped land, and the integration of heavy rail, light rail, and bus transit services. Subsequently hired by RTD to prepare additional feasibility analysis and assist in developer solicitation selection, and negotiation of business terms for the historic train station.
Foothills Mall Redevelopment Financing, Developer Negotiations, and Revenue Bond Analysis, Fort Collins, CO
Developed a project development pro forma and public financing cash flow model to determine the level of public investment needed to support negotiations between the City and the developer. Modeled financing alternatives including a metro district mill levy, PIF, and sales tax shareback and supported negotiations of a P3 between the City and developer.
Encore Development and Town Parking Garage P3, Castle Rock, CO
Market and financial feasibility of a mixed-use project including 200 for-sale condominiums and parking structure with 300 spaces built for downtown parking needs. Evaluated supportable land and market values used for the property tax and sales tax estimates, price absorption assumptions, and a “but for” analysis determining the public investment required. Assisted with development negotiations and deal structure.
Tax Increment Financing Evaluations, Arvada, CO
Reviewed urban renewal authority TIF applications to determine the need for and appropriate amount of investment to achieve a reasonable developer return.
Retail/Mixed Use Revenue Bond Feasibility Reports
Feasibility analysis to support revenue forecasts for multiple revenue bond issues backed by TIF, PIF and Metro District revenue streams including Foothills Mall in Fort Collins, Promenade at Castle Rock, Winrock Town Center in Albuquerque, and The Yard in Lone Tree.
Winrock Town Center Redevelopment, Albuquerque, NM
Market analysis, financial feasibility, fiscal impacts and public financing including TIDDs from the city, county, and state for the redevelopment of the former Winrock Mall as a mixed use town center.
Midtown Corridor Redevelopment Study, Fort Collins, CO
Project feasibility, market analysis, development potentials, and public/private financing strategy for an aging retail commercial corridor including the Foothills Mall.
Miller’s Landing Public Finance Review, Castle Rock, CO
Review of a public finance agreement for proposed P3 to develop a full-service hotel and conference center as well as an office park and destination retail on a former municipal land fill. Review included a determination of supportable market values and a “but for” financial analysis.
Education
M.A., Urban Geography, University of Colorado, 1976
B.A., Political Science, University of Colorado, 1972
Previous Employment
1999-present Principal Economic & Planning Systems, Inc.
1997-1999 Principal, In Motion, Inc.
1993-1997 Vice President, BRW Inc.
1978-1992 Vice President, Hammer Siler, George Associates
1976-1978 Planner, Jefferson County Planning Department
Affiliations
Urban Land Institute
International Downtown Association
Denver Planning Board, 1992 to 2005
ICSC Colorado Alliance
Economic & Planning Systems, Inc.
The Economics of Land Use
730 17th Street, Suite 630 Denver, CO 80202
303.623.3557 bduffany@epsdenver.com www.epsys.com
Brian Duffany
ExecuƟve Vice President
ABOUT
Brian Duffany is an economist and planner with nearly 20 years of experience in land economics. He has a broad base of experience in real estate development feasibility analysis, financial and economic modeling, economic development, economic and demographic analysis, local government finance, fiscal impact analysis, and transportation planning. Brian has evaluated proposals and feasibility for development and redevelopment proposals throughout the mountain West.
SELECTED PROJECT EXPERIENCE
Growth Policy Update, Bozeman, MT
Economic and real estate market analysis to inform the land use and economic aspects of the Comprehensive Plan Update. Addressed supply, demand, and impediments in the office, retail, and industrial markets. Quantified housing affordability conditions and the impact of job relocations and workforce migration from high-cost metro areas on the local housing market.
Downtown Housing Strategy, Billings, MT
Market, feasibility, and development opportunity analysis to create a strategy for attracting more housing to Downtown Billings. Conducted interviews, downtown employee survey, and site analysis to recommend priority sites and housing product types. Recommended priorities for tax increment financing.
Urban Renewal Project Evaluations, Bozeman, MT
Consultant to the Bozeman Urban Renewal Authority to evaluate applications for Tax Increment Financing based on financial need (but for analysis) and other land use and public benefit criteria.
Economic Development District Feasibility Study, Yellowstone County, MT
Market study, site analysis, and tax increment projections for a proposed TEDD east of Billings.
Urban Renewal Authority Strategic Plan, Denver, CO
Policy and financial analysis to support a visioning, goal setting, and prioritization process to shape the Denver URA’s direction over the next 10 years.
Lodging Development Policy White Paper, Aspen, CO
Prepared a white paper on the development economics of tourist accommodations, addressing macro level market constraints, local land use and market constraints, and the community impacts of a declining tourist bed base.
Flatiron Marketplace Redevelopment Analysis, Broomfield, CO
Economic and fiscal impact analysis of the proposed redevelopment of a vacant retail power center. Analysis was used by City council to inform the decision to proceed with a public financing package to incentivize redevelopment.
Denargo Market Financial Feasibility and Incentives, Denver, CO
Pro forma cash flow feasibility study and market analysis to support development negotiations with the Denver Urban Renewal Authority. Conducted a “but for” test for the application for tax increment financing.
Fruita in Motion, Fruita, CO
Economic consultant to planning team and staff to evaluate issues and recommend policies and strategies on housing affordability, housing diversity, economic development (recruitment, marketing, incentives), and fiscal sustainability.
Education
Master of Regional Planning, Cornell University
Bachelor of Arts, Geology, Colby College,
Employment History
21 Years Experience
16 Years with EPS
2017-present Executive Vice President Economic & Planning Systems, Inc.
2010-2017 Vice President Economic & Planning Systems, Inc.
2007-2010 Senior Associate Economic & Planning Systems, Inc.
2004-2007 Associate Economic & Planning Systems, Inc.
1999-2001 Real Estate Analyst Value Research Group LLC
1997-1998 Environmental Geologist Dames & Moore Group
Affiliations
American Planning Association
Urban Land Institute
Colorado Municipal League
Economic & Planning Systems, Inc.
The Economics of Land Use
730 17th Street, Suite 630 Denver, CO 80202
303.623.3557 tmorzel@epsdenver.com www.epsys.com
Tim Morzel
Vice President
ABOUT
Timothy Morzel has a broad base of experience and education in land use economics, planning, and real estate development. He has a diverse skill set for solving complex problems related to land use economic issues, conducting real estate market analysis, building financial and economic modelling tools, and assessing regional economic conditions and trends.
SELECTED PROJECT EXPERIENCE
Growth Policy Update, Bozeman, MT
Comprehensive economic and real estate market analysis to inform the land use
and economic aspects of the Comprehensive Plan Update. Addressed supply,
demand, and impediments in the office, retail, and industrial markets. Quantified
housing affordability conditions and the impact of job relocations and workforce
migration from high-cost metro areas on the local housing market.
Urban Renewal Services, Bozeman, MT
Completed a review of a request for tax increment financing (TIF) submitted by
multiple projects seeking assistance in the City of Bozeman. Developed a
comprehensive financial model that was used to evaluate project return with and
without TIF. The analysis provided estimates of static return, time series return,
and other key metrics that was used by staff and the Urban Renewal Authority to
determine the appropriate level of public investment in individual projects.
Urban Renewal On-Call Services, Arvada, CO
Advised the Arvada Urban Renewal Authority on matters relating to new urban
renewal projects requesting tax increment financing (TIF). Provided consulting
services relating to market conditions, total and eligible cost review, feasibility and
pro forma analysis, and final determination regarding total project need for TIF.
Northglenn Citywide Sustainability Assessment, Northglenn, CO
Conducted market research for retail, residential, and office/industrial uses through-
out the Denver-metro market; advised on ways to position the City’s properties
relative to current and future market condition; translated the dataset into user-
friendly maps and graphics that facilitate dialogue with elected officials. Created a
database focused on revenue-generation attributes and linked with land values,
lease rates, vacancy trends, and other market data to show how the market views
a given site.
RTD FasTracks Joint Development On-Call Services, Denver, CO
Implementation services including market studies, financial analysis, public-private
partnerships, and development solicitation and negotiation for TOD pilot project
sites and other prospective joint development projects. Real estate transactional
support with University Station development feasibility analysis. Real estate analysis
with evaluation of all RTD station properties for joint development potential.
Local Financing Study, Adams County, CO
Identifies long range capital facility and infrastructure project needs for the 2018
to 2045 time period and identifies supplemental funding sources and financing
strategies and a project prioritization strategy for addressing funding shortfalls.
Education
Masters of City & Regional Planning, Cornell University, 2013
B.A., University of Colorado, 2009
Employment History
2018-current Vice President, Economic & Planning Systems, Inc.
2015-2018 Senior Associate, Economic & Planning Systems, Inc.
2013-2015 Associate, Economic & Planning Systems, Inc.
2011-2013 Research and Teaching Assistant, Cornell University
Summer 2013 Transportation Planning Intern, Charlier Associates
Summer 2012 Planning Intern, RRC Associates
Affiliations
Urban Land Institute
Economic & Planning Systems, Inc.
The Economics of Land Use
730 17th Street, Suite 630 Denver, CO 80202
303.623.3557 rshindman@epsdenver.com www.epsys.com
Rachel Shindman, AICP
Senior Associate
ABOUT
Rachel Shindman, AICP, brings over five years of experience in many of EPS’s practice areas. Her specializations include real estate economics, fiscal and economic impact analysis, and economic development and revitalization. She has a strong skill set for addressing urban economic and policy issues, and her experience in public, private, and non-profit organizations enables her to work successfully with a diverse set of clients.
SELECTED PROJECT EXPERIENCE
College and Drake URA Study, Fort Collins, CO
Assisted the URA to implement a new Plan Area consistent with HB 15-1348. Work included an existing conditions survey documenting the existence of blight conditions, preparing a URA plan for the proposed area consistent with State statute requirements and Fort Collins URA policies, and determining the direct fiscal and indirect economic impacts of the use of TIF within the URA Plan Area on the County, Poudre School District, and other affected taxing entities.
Randolph Park & Ride Market and Feasibility Analysis, San Antonio, TX
As part of a multidisciplinary team, performed market demand and feasibility analysis for the redesign of VIA Metropolitan Transit Agency’s Randolph Park & Ride. Evaluated the market conditions and constructed a pro forma feasibility model to document costs and revenues for a variety of uses, including office, restaurant, and apartments. Forecasted future redevelopment potential, grounding capture rates in local market data, to project market momentum on the site.
Housing and Transportation Funding Model, Boulder County, CO
Built a model of County revenue tools and expenditures associated with housing and transportation plans to analyze the opportunity to fund various scales of solutions countywide. Documenting revenue potential by source for five tools, and tested a range of scenarios to align revenue potential with expenditures. Results were used to inform County polling and in turn inform a ballot measure for new local funding.
University of North Dakota Real Estate Asset Evaluation, Grand Forks, ND
Determined land valuation of the 68-acre University-owned former golf course property to inform the University’s efforts to sell the property. The market assessment considered residential, office, medical, and retail development in Grand Forks and evaluated likely capture of this development on the Property site. A development program was provided as a 15-year plan in three 5-year phases, including commercial (retail and lodging), employment (office), and residential uses.
Affordable Housing Mitigation Rate and Fee-in-Lieu Updates, Vail, CO
Working with the Town of Vail to address changes to generation rates, mitigation rates, and fee-in-lieu calculations for the Town’s affordable housing policy. This work involves providing peer community research and town-specific data to inform decision making for a new residential linkage policy, mitigation rates for residential and commercial programs, and a fee-in-lieu calculation method. EPS will provide employment generation rates for new residential development, recommendations on mitigation rates and prioritization, and a simple, data-driven system for annual updates to fee calculations.
Robert Thompson Transit Station Area Vision Plan, San Antonio, TX
Performed market demand and feasibility analysis for both short and long term planning horizons to guide land use planning and illustrative visioning diagrams for a planned multi-modal transit center on the east end of downtown San Antonio. Identified key parcels in the area that VIA Metropolitan Transit could take an active role in promoting transit oriented development through purchasing of sites, infrastructure investment, and joint development partnerships.
Education
Master of Regional Planning, Cornell University
B.A., Queen’s University
B.Ed., Queen’s University
Certificate in GIS, Queen’s University
Previous Employment
2015-present Associate Economic & Planning Systems, Inc.
2013-2015 Research and Teaching Assistant Cornell University
Summer 2014 Intern New York City Department of City Planning
Summer 2014 Intern Age-Friendly NYC, New York Academy of Medicine
Affiliations
American Institute of Certified Planners
American Planning Association
Urban Land Institute
Presentations
Tiny Homes, Big Ideas: Alternative Housing, Conventional Reality Panel; American Planning Association: Colorado State Conference, 2018
Sharing the Pain, Sharing the Gain Regional Transportation Solutions; American Planning Association: Colorado 2019
Finding the “Opportunity” in Opportunity Zones Panel Discussion (convener and moderator) American Planning Association – Colorado State Conference, 2019
President
• Park Avenue Station Anti-
Displacement Plan, Clackamas
County
• Park Avenue Station Transit
Oriented Development Strategy
Phase 1, Clackamas County
• Economic Recovery Plan in
Response to COVID, Portland,
Oregon
• Community Economic
Development Strategy (CEDS),
Portland, Oregon
• CREDC Strategic Economic
Development Plan, Clark County,
Washington
• Economic Opportunities Analysis
(EOA) and Action Plan, The Dalles,
Oregon
• Economic Development Plan
Update and Marketing, Bozeman,
Montana
• Economic Development Analysis,
Coeur d’Alene, Idaho
• Economic Development Strategy,
Stayton, Oregon
• Economic Development Strategy,
Ruidoso, New Mexico
• Western Avenue Employment
Area Master Plan, Beaverton,
Oregon
• Restaurant and Retail Strategy,
Beaverton, Oregon
• International Air Center Economic
Feasibility Study, Roswell, New
Mexico
• Midtown Corridor Development
Strategy, Bozeman, Montana
• Spring Street Urban Renewal
Strategy, Klamath Falls, Oregon
Alisa Pyszka has over 20 years of experience in urban planning and real estate and
economic development. This unique skill set gives her the driving passion to
facilitate economic development strategies for communities based on grounded
market realities and opportunities. With extensive experience working for both
public agencies and private developers, Alisa delivers a range of technical and
strategic skills that enable great places to get built. In addition to her consulting
practice, she is an adjunct professor in the College of Urban and Public Affairs at
Portland State University.
As a manager of the economic development department at the City of Vancouver,
Washington she developed the skills to work across multiple agencies to
implement important infrastructure projects, craft new small business programs
and initiatives, and resolve permitting inefficiencies to encourage private
investment. Her real estate experience is grounded in eight years of entitlement
project management for national retailers and regional commercial developers.
Alisa also served as the VP of Recruitment for Greater Portland Inc, a regional
nonprofit economic development organization that provides support and services
to companies seeking to relocate or expand in the greater Portland area. In this
role, Alisa developed strategic insights regarding the most important attributes a
community and region must have to attract business, as well as how to successfully
message these attributes to decision makers.
Master of Urban and Regional Planning | University of Kansas, Lawrence, KS
Bachelor of Arts, History | Miami University, Oxford, OH
LEED AP certification | U.S. Green Building Council
• Planetizen - A Strategic Approach to Economic Recovery Planning, February 18,
2021
• Governing - Developers Are Helping to Build Our Cities, Not Killing Them, July
15, 2019
• Next City - When it Comes to Urban Planning, Strategy Isn’t Enough, January
10, 2018
• Portland Business Journal - In the Portland area, building a strong workforce
must start at the K-12 level, Sep 5, 2017
Brie Hensold is an urban planner, co-founder and
principal of Agency Landscape + Planning. With a passion
for understanding and improving communities and places,
Brie brings a systems-based approach that celebrates
diverse perspectives. She has extensive experience
developing creative and meaningful community
engagement processes. Brie’s work encompasses multiple
scales, from downtown plans to citywide park systems
to resilience strategies. She is a Design Critic in the
Department of Urban Planning and Design at the Harvard
Graduate School of Design where she also leads an
executive education class in resilient cities.
EDUCATION
Harvard Graduate School of Design
Master of Urban Planning, Urban Design Concentration
Rice University
Bachelor of Arts in Architectural Studies and Art History
ACADEMIC POSITIONS
Harvard University Graduate School of Design: Critic in Urban Planning and
Design; Core Planning Studio, 2019 - ongoing
Harvard University Graduate School of Design: Executive Education Course
Leader; The Resilient City, New Discoveries at the Intersection of Planning and
Design, 2017 - ongoing
PROJECT EXPERIENCE
Allegheny Riverfront Green Boulevard Study; Pittsburgh, Pennsylvania †
Boulevard Crossing Park; Atlanta, Georgia
Cedar Rapids Neighborhood Planning Process; Cedar Rapids, Iowa †
Chinati Foundation Master Plan; Marfa, Texas †
Detroit Land-Based Projects Plan; Detroit, Michigan
Downtown Bozeman Plan; Bozeman, Montana
Downtown Rochester Master Plan; Rochester, Minnesota †
East Baltimore Implementation Plan; Baltimore, Maryland †
Fort Wayne Riverfront Neighborhood Plan; Fort Wayne, Indiana
Franklin Park Action Plan; Boston, Massachusetts
Greensboro Parks and Recreation Master Plan; Greensboro, North Carolina
High Line Canal Framework Plan; Denver, Colorado
Mecklenburg County Park and Recreation Master Plan; Charlotte, North Carolina
Raleigh Downtown Plan; Raleigh, North Carolina †
Vision for the Valley Master Plan; Cleveland, Ohio
White River Vision Plan; Hamilton County and Indianapolis, Indiana
Zidell Yards Master Plan, Greenway and Open Space Concept Plan; Portland,
Oregon †
† Work Completed at Sasaki
BRIE HENSOLD, HASLA
PLANNING PRINCIPAL
SELECTED AWARDS
Boston Society of Landscape
Architects Merit Award in
Analysis and Planning. White
River Vision Plan. 2020
The J. Irwin and Xenia S. Miller
Prize. 2019
American Institute Of
Architects Regional &
Urban Design Honor Award
Tecnologico de Monterrey
Urban Regeneration Plan
Boston Society of Landscape
Architects Landscape Analysis
and Planning Honor Award.
Bridgeport Parks Master Plan.
2013
The Ministry Of Agrarian,
Land And Urban Development
(SEDATU) Mexico, National
Prize For Urban And Regional
Development Tecnologico de
Monterrey Urban Regeneration
Plan
Planning Achievement Award
for a “Hard Won Victory”
Category, American Planning
Association Iowa Chapter.
2009
Excellence Award for
Innovation for Sustaining
Places, American Planning
Association Iowa Chapter.
2010
Gina Ford is a landscape architect, co-founder and
principal of Agency Landscape + Planning. Underpinning
her two decades of practice are a commitment to the
design and planning of public places and the perpetuation
of the value of landscape architecture via thought
leadership, teaching, writing and lecturing. Her work has
received awards from the American Society of Landscape
Architects, the American Planning Association and the
American Institute of Architects, among others.
EDUCATION
Harvard Graduate School of Design
Master in Landscape Architecture with Distinction
Wellesley College
Bachelor of Arts in Architecture and Architectural History
PROFESSIONAL AFFILIATIONS
Registered Landscape Architect: CO, CT, MA, MI, NC, RI, TN, WA
American Society of Landscape Architects
ACADEMIC POSITIONS
University of Texas - Austin: Kwallek Endowed Chair in Design and Planning
PROJECT EXPERIENCE
Boulevard Crossing Park; Atlanta Beltline, Atlanta
Cedar Rapids Reinvestment and Redevelopment Framework; Cedar Rapids, Iowa †
Chicago Riverwalk (Phases 2 and 3); Chicago, Illinois †
Franklin Park Action Plan; Boston, Massachusetts
Greensboro Parks and Recreation Master Plan; Greensboro, North Carolina
High Line Canal Vision Plan and Framework Plan; Denver, Colorado
Ithaca Common Renovation; Ithaca, New York †
Lawn on D; Boston, Massachusetts †
Massport Public Realm Initiative; Boston, Massachusetts
Mecklenburg County Park and Recreation Master Plan; Charlotte, North Carolina
Moore Square; Raleigh, North Carolina †
Rebuild by Design Competition; New Jersey Shore †
Sarasota Bayfront Park - Phase 1; Sarasota, Florida
Thomas Polk Park; Charlotte, North Carolina
Tom Hanafan Rivers Edge Park; Council Bluffs, Iowa †
Upper Harbor Terminal; Minneapolis, Minnesota
Vision for the Valley Master Plan; Cleveland, Ohio
White River Vision Plan; Hamilton County and Indianapolis, Indiana
† Work Completed at Sasaki
GINA FORD, FASLA
PRINCIPAL LANDSCAPE
ARCHITECT
SELECTED AWARDS
Boston Society of Landscape
Architects Award of Excellence
in Communication. WxLA.
2020
Boston Society of Landscape
Architects Merit Award in
Analysis and Planning. White
River Vision Plan. 2020
Boston Society of Architects
Women in Design Award of
Excellence. 2019
The J. Irwin and Xenia S. Miller
Prize. 2019
ASLA Honor Award in Design.
The Chicago Riverwalk (Phases
2 and 3). 2018
AIA National Honor Award.
Urban Design. The Chicago
Riverwalk (Phases 2 and 3),
2018
APA National Award of
Excellence in Community
Engagement. The High Line
Canal Vision Plan. 2018
World Landscape Architecture,
Award of Excellence for Built
Design. The Chicago Riverwalk
(Phases 2 and 3). 2017
AIA Chicago Chapter, Design
Excellence Award. The Chicago
Riverwalk (Phase 2). 2016
An urban planner with a background in architecture,
Rhiannon Sinclair's work focuses on complex urban
systems across multiple scales. She uses data-driven
strategies to better understand and enhance the
relationship between people, buildings, systems and the
public realm. Rhiannon has considerable experience
communicating information to broad audiences to
promote strong community exchange and empowerment
within a planning process. In her work, she finds that the
role of this type of exchange and master plan facilitation
contribute to plans that are visionary, comprehensive, and
implementable.
EDUCATION
University of Pennsylvania Stuart Weitzman School of Design
Master of City and Regional Planning, Urban Design Concentration
Thomas Jefferson University
Bachelor of Architecture
PROFESSIONAL AFFILIATIONS
American Planning Association
PROJECT EXPERIENCE
Case Western Reserve University Campus Master Plan; Cleveland, Ohio †
Changing Course Competition. New Orleans, Louisiana †
The Chinati Foundation Master Plan; Marfa, Texas †
Dayton Riverfront Plan; Dayton, Ohio †
Detroit Land-Based Projects Plan; Detroit, Michigan
Downtown Bozeman Plan; Bozeman, Montana
Fort Wayne Riverfront Neighborhood Plan; Fort Wayne, Indiana
Franklin Park Action Plan; Boston, Massachusetts
Greensboro Parks and Recreation Master Plan; Greensboro, North Carolina
High Line Canal Master Plan; Multiple Jurisdictions, Colorado
Howard County Land Preservation, Parks, + Recreation Master Plan; Maryland †
Independence Park Renovation Plan; Charlotte, North Carolina
Jersey City Open Space, Recreation and Community Facilities Plan, Jersey City,
New Jersey
Lewis & Clark College Facilities Plan; Portland, Oregon †
Mecklenburg County Park and Recreation Master Plan; Charlotte, North Carolina
New Bedford Waterfront Planning; New Bedford, Massachusetts †
Rebuild By Design Planning and Design Competition; NJ, NY, CT †
University of Washington Campus Master Plan; Seattle, Washington †
Vision for the Valley Master Plan; Cleveland, Ohio
White River Vision Plan; Hamilton County and Indianapolis, Indiana
† Work Completed at Sasaki
RHIANNON SINCLAIR
SENIOR PLANNER, LEED
GREEN ASSOCIATE
SELECTED AWARDS
Boston Society of Landscape
Architects Merit Award in
Analysis and Planning. White
River Vision Plan. 2020
The J. Irwin and Xenia S. Miller
Prize. 2019
Outstanding Planning Award
– Innovation in Planning
Services, Education, and
Public Involvement, NC
Chapter of the American
Planning Association. 2019
Merit Award for Excellence in
Planning - Existing Campus,
Society for College and
University Planning, University
of Washington Campus Master
Plan; Seattle, Washington. 2017
Bryan C. West Award for
Collaboration. 2013
Henry Adams Certificate of
Merit. 2011
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
21
d) Related Experience with Projects Similar
to the Scope of Services
To demonstrate our team’s relevant experience related to Scope of Services, we have
provided two case studies each of the following four core areas:
1. Economic Development Strategy and Implementation
Castle Rock Economic Development Strategic Plan
Greater Portland Comprehensive Economic Development Strategy (CEDS)
2. Economic Development and Real Estate Financial Analysis
Bozeman Growth Policy Update
Downtown Waco Market Study and TIF Investment Strategy
3. Public-Private Partnerships
Urban Renewal and Public Private Partnership Advisory Services
Encore Condos and Town Parking Garage Public Private Partnership
4. Building and Development Conceptualization
Downtown Littleton Design and Zoning Guidelines
Bozeman Downtown Master Plan
Economic Development Strategic Plan 1)Economic Development Strategy and Implementation Client
Town of Castle Rock, Colorado Castle Rock Economic Development Council
Project Description
Over the last 50 years Castle Rock has grown from a small town of less than 1,500 people in 1970 to a population of over 63,000 today. However, the Town has grown primarily into a bedroom
community with most residents commuting to jobs outside of the Town.
As Castle Rock continues to grow, there is a desire
to balance the growth within the Town and a need to distinguish between growth issues that should be mitigated and those that should be accentuated to enable the Town to keep pace with an expanding
regional, national, and international economy.
The Town of Castle Rock and the Castle Rock Economic Development Council (EDC) have been
successful in growing the economic base of the
community since the inception of the EDC. To build on their success, the Town and EDC decided to develop a strategic plan to articulate a proactive
vision followed by a set of guiding principles based on Castle Rock’s economic strengths and weaknesses.
• The Town of Castle Rock and EDC retained EPS
to help develop a Strategic Plan for the Town to address barriers to economic growth in the community and proactively address longer term
concerns.
• Major issues addressed in the plan include diversifying the economic base, addressing transportation and connectivity issues, and
addressing barriers to development of office and industrial uses needed to support economic growth.
• EPS organized the Strategic Plan by guiding
principles that reflect the most promising opportunities for strengthening existing market segments and for economic diversification.
• EPS also identified the desired and/or needed assets, infrastructure, and amenities that can help Castle Rock achieve its economic vision.
• Finally, EPS’ Strategic Plan provided a menu of
implementation strategies that can be used to guide economic growth in the Town over the next 15 to 20 years.
Deliverables
- Developed a long range strategic plan - Addressed barriers to economic growth - Analyzed ways to diversify economic base
- Examined ways to strengthen market segments - Identified needed assets - Provided plan implementation strategies
Reference Frank Gray CEO
Castle Rock Economic Development Corporation 303.668.7488 frank@castlerockedc.com
Greater Portland Comprehensive Economic Development Strategy (CEDS) 1) Economic Development Strategy and Implementation Client Greater Portland Inc
Project Description Bridge Economic Development is leading the consultant team in the development of the CEDS
for the Portland region. The strategy is based on a
data-driven analysis of industry clusters and demographics to determine regional competitive strengths aligned with global economic trends. By
quantifying the regional opportunities and weaknesses, Bridge has developed a set of recommendations pertaining to public infrastructure, programs, partnerships, incentives
and policies that can stimulate the desired development and private investment that foster a sustainable economy.
Additionally, the data analysis will help shape the future marketing efforts for the client. Quality marketing is based on quality information. Bridge is assisting the client to prepare marking materials
driven by quantitative facts that reflect community assets to help welcome talent and business within key industry clusters.
The CEDS will culminate with a 5-year action plan
that outlines how public investment dollars and staff efforts will be used to foster targeted economic development for the community. The
plan will include timelines, metrics, specific task leads, and resources required to complete the action to ensure implementation will occur.
Finally, the CEDS will include a place-based pilot
project component to implement to the strategy goals and objectives. Prior work by Bridge that may be applied includes an industrial land analysis of
sites and building types most likely to build within
the region to serve target industry clusters. This analysis refines a comprehensive plan level consideration of “employment land” needs toward a
specific consideration for adequately sized sites with suitable infrastructure to meet future economic development demand needs. Bridge has
applied this same analysis to highway corridors
lined with general commercial zoning that are underutilized and poised for redevelopment. In all analyses, Bridge recommendations are grounded in
market realities that align with the community. In preparing these studies, Bridge has provided land use policy and code recommendations regarding mixed-use, commercial, and employment
development types and how they can best be encouraged through targeted policy and regulation considerations.
Deliverable Based on Alisa Pyszka’s experience working as an economic development manager at the City of
Vancouver, Washington, she understands the need to find outside funding resources for public infrastructure to attract new private investment. She has successful experience working with federal
agencies such as the US Economic Development Administration (EDA) to position communities for grants to facilitate public infrastructure investments necessary to foster economic growth and realize
desired investments.
Reference Brittany Bagent
Vice President of Strategy Greater Portland Inc 111 SW Columbia Street, Suite 1170 Portland, OR 97201
312.898.6738 brittany.bagent@greaterportlandinc.com
Growth Policy Update
2)Economic Development and Real Estate Financial Analysis Client City of Bozeman, Montana
Project Description EPS was retained by the City of Bozeman to provide economic and demographic data analysis
and to identify future land use needs over the next
25 years. The purpose of this analysis was to support the City’s update of its comprehensive plan and to identify what land area and land
characteristics are needed for the continued economic and physical growth of the City.
• To provide staff and the Planning Board with the framework necessary to fully understand the
factors that influence growth in the city, EPS completed a comprehensive summary of economic and demographic trends and conditions
in and around the city.
• This information was used to provide the framework and inputs necessary to develop the final land demand forecasts.
• EPS developed an employment-based land demand model to estimate the total demand for commercial and residential space. Based on
anticipated employment growth in Bozeman, EPS estimated the annual demand for varying commercial space types including office, retail, and industrial.
• The analysis also estimated the portion of demand by location and zone district. The residential forecasts addressed the demand by product type (i.e., single family, townhome, and
multifamily) over the next 25 years.
• These estimates were used to provide policy, zoning, and other land use recommendations to
the City after discussions with the City Planning Board and City staff.
• These recommendations were included in a final report along with an interim and final
presentation to the City’s Planning Board.
Deliverables - Commercial market forecasts
- Regional population and employment forecasts - Residential market forecasts - Land use and zoning policy Reference Chris Saunders Community Development Manager
City of Bozeman
121 N Rouse Ave Bozeman, MT 59715 407.582.2260
csaunders@BOZEMAN.NET
Downtown Market Study and TIF Investment Strategy 2)Economic Development and Real Estate Financial Analysis Client City of Waco, Texas
Project Description Downtown Waco is the historic center of the City of Waco as well as the county seat for McLennan
County. Like many cities of a similar size, the
Downtown area experienced a noticeable decline when regional and community serving retail uses began to move to planned shopping centers at
suburban locations in the 1960s and 1970s. The retail and commercial sectors languished in Downtown resulting in several vacant store fronts and buildings. Despite the decline in retail and
office uses, Downtown remained an important government center. The City of Waco completed a number of plans for Downtown revitalization over
the last 30 years with some modest successes.
The City then made several investments in major civic/public space projects, downtown housing projects, and building rehabilitation and historic
preservation projects. These investments have generated renewed interest and activity in Downtown and increased the amount of people
living and working in the area. The Waco Downtown Tax Increment Financing (TIF) District has been the most impactful implementation tool for funding these downtown efforts. The Downtown TIF District
expires 2032 and loses the increment contribution from the Waco Independent School District in 2023, which accounts for approximately 50 percent of increment generated in the district.
• The City of Waco and TIF Board sought the development of a strategic plan to maximize return on investments made in Downtown over
the remainder of the TIF District life. EPS was hired to complete a Market Study and TIF Investment Strategy.
• EPS assessed market conditions and
opportunities within the TIF District boundary that includes the downtown core as well as the larger Brazos River front zone and the edge of
the TIF District bordering the Baylor University campus.
• The market study included development potentials over a 10-year period for a full range
of downtown uses by property classification including retail, entertainment, office, residential, and lodging.
• The intent of the market study was to compile a
well-grounded assessment of development opportunities and potentials to inform the TIF Investment Strategy.
• The TIF strategy provided a strategic plan for use of remaining TIF resources plus the anticipated
revenues to be collected over the remaining years of the TIF District. EPS developed a prioritized list of projects and investments the TIF Board and the City of Waco should implement to address market
gaps and attract additional private investment.
Deliverables - Market analysis for for-sale and rental housing
- Market analysis for retail and office development -
- Development opportunities - Downtown district strategy - Tax increment investment strategy.
Reference Melett Harrison Housing and Economic Development Director 300 Austin Avenue
Waco, TX 76701 254.750.5643 meletth@wacotx.gov
Urban Renewal and Public Private Partnership Advisory Services
3)Public-Private Partnerships Client Arvada Urban Renewal Authority
Project Description EPS has provided urban renewal and public private partnership (P3) advisory services to the Arvada
Urban Renewal Authority since 2019. EPS has
worked closely with URA staff to evaluate the need for public investment for a variety of development types. A large portion of this work has been as a
third-party analyst providing analysis and recommendations relating to requests for tax increment financing (TIF) submitted by private sector developers. EPS has also helped the URA
structure redevelopment agreements and a range of incentive packages provided to individual projects. Specific analysis completed for the URA include the
following:
• Residences at Olde Town Station – The project included a 4-story 128-room hotel and a 6-story 252-unit multifamily development. The project
received discounted land contribution, property tax increment, and sales tax increment. EPS helped evaluate and structure the terms of the
redevelopment agreement and outlined a Lookback Agreement to insure that at stabilization the level of TIF investment was appropriate.
• Ralston Creek – A mixed-use project that
includes 185 multifamily units and 5,500 square feet of commercial development. Project required TIF in order to structured parking, improved façade improvements, and locally oriented
commercial development. EPS evaluated the performance of the project with and without TIF and provided recommendations to staff and the
board related to the appropriate level of public investment.
• Tabernacle Church – A proposed redevelopment of an existing church. Contemplated to included
nearly 9,000 square feet of new commercial space. Project required TIF in order to support additional costs associated with the historic
renovation of the existing building.
• Ralston Cottages – Project includes 64 units of small lot single-family and townhome units. Anticipated pricing ranges from $300,000 to
$425,000 per unit with a goal of being affordable for local families. URA investment is required in order to support additional site costs and unique
unit mix. While this project is ongoing, EPS
continues to work closely with URA staff and the developer to move the project forward.
Deliverables
- Financial pro forma analyses - Market rate and affordable housing financing - Development agreement negotiation advisory services
Reference Maureen Phair Executive Director
5601 Olde Wadsworth Blvd., Suite 210 Arvada, CO 80002 720.898.7062 mphair@arvada.org
Encore Condos and Town Parking Garage Public Private Partnership
3)Public-Private Partnerships
Client Town of Castle Rock, Colorado
Project Description Like many municipalities, the Town of Castle Rock – in the greater Denver Metro Area – is balancing a
desire to densify and add vibrancy to its downtown
while also maintaining adequate parking infrastructure given both real and perceived parking needs. This proposed mixed-use development
includes for-sale residential condominiums, office space, and ground floor retail with three levels of parking totaling 500 spaces. The parking component includes 300 public parking spaces for Town Hall and
downtown area patrons, as well at 200 spaces for the project tenants and residents. The public parking component will be owned by the Town
through a lease purchase contract and financed by sales and property tax increment and a special improvement district that will raise additional property tax revenue. The Town will also contribute
a portion of the property tax increment to the developer to help subsidize the structured parking.
• EPS evaluated the market and financial feasibility
of the public private partnership including: supportable land and market values used for the property tax and sales tax estimates; price and absorption assumptions used in the development
pro forma; and a “but for” analysis determining the public investment required for the project to be feasible and achieve a reasonable rate of return.
• Estimated future public finance revenues associated with the project and performed a sensitivity analysis on these estimates, assessing
the likelihood that public finance revenues will be able to service the Town’s debt obligations for building the public garage.
• Assisted in the development negotiations and
helped the Town and developer to decide how to best structure the financial risks and reward for the project.
• The project is under construction and will be completed in late 2021.
Deliverables - Draft RFQ/RFP
- Evaluation of developer proposals - Development partnership structure - Financing evaluation and gap financing
Reference
David Corliss, Town Manager Town of Castle Rock, Colorado 100 N. Wilcox St.
Castle Rock, CO 80104 303.660.1374 DCorliss@crgov.com
Downtown Littleton Design and Zoning Guidelines
4) Building and Development Conceptualization Client City of Littleton, Colorado
Project Description As part of an update to the City of Littleton’s design and zoning guidelines for the City’s downtown area,
the City requested that EPS develop a financial
model that could be used to better understand the impact of specific changes to the design and zoning guidelines on development feasibility. This analysis
provided staff and the City Council with a more comprehensive understanding of the impact of specific design and zoning requirements on the feasibility of specific uses in the downtown area.
EPS specifically tested the impact of alternative design requirements, such as setback and stepback, and zoning requirements, such as
parking ratios, on development feasibility for a range of uses. The results of this analysis allowed Council to fully understand the impact of specific regulations and align zoning and design guidelines
with current market conditions in the downtown area.
Reference
Kathleen Osher
Director of Community Services City of Littleton 2255 W. Berry Avenue
Littleton, CO 80120 303.795.3755 kosher@littletongov.org
DESCRIPTION Baseline Reduced Parking Reduced Stepback
Reduced Parking and StepbackBuilding Height 3-Story 3-Story 3-Story 3-Story
Parking Solution Tuck Under / Surface Tuck Under / Surface Tuck Under / Surface Tuck Under / SurfaceMax stories within 20’ of property line 2 2 3 3
Residential Parking Ratio 1.5/unit 1.0/unit 1.5/unit 1.0/unitRetail Parking Ratio 5.0/1,000 sf 2.0/1,000 sf 5.0/1,000 sf 2.0/1,000 sfOffice Parking Ratio N/A N/A N/A N/AYield on Cost Target 6.23%6.22%6.17%6.28% Actual 5.93%6.35%5.96%6.55%Internal Rate of Return Target 9.20%9.20%9.15%9.25% Actual 8.62%9.56%8.78%9.90%
Bozeman Downtown Master Plan 4) Building and Development Conceptualization Client Downtown Bozeman Partnership
Project Description When asked to imagine Downtown’s future, the Bozeman community delivered. Over six months,
residents helped to assemble a vision by sharing
thousands of ideas via activities at public meetings, dreams scribbled on coasters, Instagram likes, thoughtful emails, and passionate discussions. As a
growing city, Bozeman needed to envision improved public amenities and parks in its beloved downtown.
Together, the community envisioned: Looking forward, Downtown Bozeman will remain the heart of
a thriving city, but will also emphasize connections to other corners of the community. A vibrant pattern of walkable and accessible streets is now more essential
than ever, so the experience of Down-town will expand beyond the identifiable historic core to encompass more than Main Street. While Downtown changes, new investments will be targeted to make
sure that improvements are designed to be welcoming to everyone. Finally, Downtown’s identity will always celebrate what is special about Bozeman
and remain forever connected to nature and culture.
The Plan included near and long-term recommendations for transformative capital improvement projects, policy and code revisions.
Key elements include:
• Understanding of future market demand across housing, office and retail.
• Urban design potential for trans-formation of key
downtown sites.
• Public realm improvements to activate downtown parks, streets, and alleys.
• Expanded bike facilities through-out downtown.
• Policies to reinforce, retail and expand local retail establishments, to better align parking with future demand and technologies, and to create
more accessible, inclusive housing options.
Reference Chris Naumann
(former) Executive Director
Downtown Bozeman Partnership 406.570.5758 cnaumann@sandersonstewart.com
CITY OF BOZEMAN
30
e) Recent and Current Work for the
City of Bozeman
Demographic and Real Estate Market Assessment for Growth
Policy Update (2017) – EPS prepared a comprehensive citywide
and regional real estate market, demographic, and economic
assessment as an input to the Growth Policy Update. The study
identified the need for Bozeman to proactively manage its success to
mitigate the impacts of rising real estate costs on housing and
economic diversity.
Tax increment Finance Project Reviews (2018-2021) –
Prepared pro forma analyses of proposed real estate projects
applying for TIF assistance from the North 7th URA. The analyses
were used by the Board and Staff to evaluate each project’s need for
financial assistance (“but for” test). EPS evaluated four projects:
9Ten condominiums (two applications), Aspen Crossing (mixed use),
Ruh Building (mixed use), and the West Peach Condos.
Parking Management Public Engagement Strategy - Developed
a public engagement strategy and materials on parking management
policy.
Economic Development Strategy - Alisa Pyszka, while at Leland
Consulting Group, prepared an update to Bozeman’s economic
development strategy.
Midtown Redevelopment Strategy - Alisa Pyszka, while at Leland
Consulting Group, led the consultant team in the evaluation of
opportunities and barriers to development and recommended how
Bozeman could invest TIF in public infrastructure and adjust code
requirements to encourage desired development patterns.
Downtown Bozeman Plan – Visioning process and near and long-
term recommendations for capital improvement projects, policy,
and code revisions.
ECONOMIC DEVELOPMENT TAX INCREMENT FINANCE PROJECTS, AND DEVELOPMENT PLANNING
31
f) References
Economic & Planning Systems
Maureen Phair
Executive Director
City of Arvada
720.898.7062
mphair@arvada.org
Kathleen Osher
Director of Community Services
City of Littleton
303.795.3755
kosher@littletongov.org
David Corliss
Town Manager
Town of Castle Rock
303.660.1374
DCorliss@crgov.com
Bridge Economic Development
Brit Fontenot
Director of Economic Development
406.582.2258
bfontenot@bozeman.net
Agency Landscape + Planning
Chris Naumann
(former) Executive Director
Downtown Bozeman Partnership
406.570.5758
cnaumann@sandersonstewart.com
CITY OF BOZEMAN
32
g) Price Proposal
Hourly Rates
Economic & Planning Systems
Daniel R. Guimond, Principal-in-charge $240
Brian Duffany, Executive VP, Project Manager $215
Tim Morzel, VP, Senior Financial Analyst $185
Rachel Shindman, Senior Associate, Housing Analyst $155
Research Analyst Support $105
Bridge Economic Development
Alisa Pyszka, Principal $200
Agency LP
Brie Hensold, Principal $250
Gina Ford, Principal $250
Rhianna Sinclair, Senior Planner $100
Attachment A
NONDISCRIMINATION AND EQUAL PAY AFFIRMATION
____________________________________(name of entity submitting) hereby affirms it will
not discriminate on the basis of race, color, religion, creed, sex, age, marital status, national
origin, or because of actual or perceived sexual orientation, gender identity or disability and
acknowledges and understands the eventual contract will contain a provision prohibiting
discrimination as described above and this prohibition on discrimination shall apply to the
hiring and treatments or proposer’s employees and to all subcontracts.
In addition, ____________________________________(name of entity submitting) hereby
affirms it will abide by the Equal Pay Act of 1963 and Section 39-3-104, MCA (the Montana
Equal Pay Act), and has visited the State of Montana Equal Pay for Equal Work “best practices”
website, https://equalpay.mt.gov/BestPractices/Employers, or equivalent “best practices
publication and has read the material.
______________________________________
Name and title of person authorized to sign on behalf of submitter
Economic & Planning Systems, Inc.
Economic & Planning Systems, Inc.
Daniel R. Guimond, Principal
Attachment A
NONDISCRIMINATION AND EQUAL PAY AFFIRMATION
fUt"t* l}*\ryrritname of entity submitting) hereby affirms it will
not discriminate on the basis of race, color, religion, creed, sex, age, marital status, national
origin, or because of actual or perceived sexualorientation, gender identity or disability and
acknowledges and understands the eventual contract will contain a provision prohibiting
discrimination as described above and this prohibition on discrimination shallapply to the
hiring and treatments or proposer's employees and to all subcontracts.
ln addition,frrn'trrviu (name of entity submitting) hereby
affirms it will abideby the Equal Pay Act of 1963 and Section 39-3-104, MCA (the Montana
Equal PayAct), and has visited the State of Montana Equal Payfor Equal Work "best practices"
website, https://equalpav.mt.gov/BestPractices/Emplovers, or equivalent "best practices
publication and has read the material.
kl)QZIhA
Name and title of person authorized to sign on behalf of submitter
Attachment A
NONDISCRIMINATION AND EQUAL PAY AFFIRMATION
____________________________________(name of entity submitting) hereby affirms it will
not discriminate on the basis of race, color, religion, creed, sex, age, marital status, national
origin, or because of actual or perceived sexual orientation, gender identity or disability and
acknowledges and understands the eventual contract will contain a provision prohibiting
discrimination as described above and this prohibition on discrimination shall apply to the
hiring and treatments or proposer’s employees and to all subcontracts.
In addition, ____________________________________(name of entity submitting) hereby
affirms it will abide by the Equal Pay Act of 1963 and Section 39-3-104, MCA (the Montana
Equal Pay Act), and has visited the State of Montana Equal Pay for Equal Work “best practices”
website, https://equalpay.mt.gov/BestPractices/Employers, or equivalent “best practices
publication and has read the material.
______________________________________
Name and title of person authorized to sign on behalf of submitter
Agency Landscape + Planning
Agency Landscape + Planning
Brie Hensold, Principal Planner