Private Economic Development Process. A Guidebook for Local Government

摘要

In planning and implementing a local economic development strategy, local government officials can use this guidebook to discover how private investors and developers make decisions, how local governments can help or hinder the private sector, and how local officials can attract qualified developers to assist in strengthening the local employment and tax base. Some key concepts in the development process involve different ways of realizing a return on investment: profit arising from the sale of a property where price exceeds costs, actual cash flow generated by the operation of properties owned and managed by the developer, fees earned for organizing and managing development for others, syndication fees earned through the sale of equity shares to limited partners, and tax losses assignable to other income which can be used to reduce personal income. Characteristics of private development projects emphasize the situations developers find attractive, major actors in the development process (private developers, lenders, equity investors, professionals, contractors, local public officials, citizen groups, and the Federal Government), and ingredients which make a project successful. Finally, a step - by - step examination of a specific development project outlines the following eight steps in the development process: market analysis; project identification; site acquisition; project negotiation; planning, design, and engineering; financing; construction; and marketing. An appendix contains an analysis of the potential economic development benefits. No references are provided.