How Does LCDC Decide What Projects to Fund?
The LCDC chooses to fund projects within the Lake and River Districts that provide a clear benefit to the public. The LCDC Board has the authority to use tax increment funds for planning efforts and for funding projects through public/private partnerships. The following criteria are used by the LCDC Board when evaluating project funding opportunities:
Does the project:
- Provide a public benefit
- Make a substantial improvement to the redevelopment District
- Coincide with physical improvements to a property that will provide significant increase in the assessed valuation of the property
- Attract new sources of employment for local citizens
- Create new residential living units within the District
- Fit with the spirit of the City’s Comprehensive Plan
Partnership Projects Map
View LCDC Projects in a larger map
LCDC Helps to Promote Job Creation and Job Retention
LCDC, through its numerous partnership initiatives, has helped to create and retain jobs in both LCDC redevelopment districts. The table below provides June 2009 estimates as to the jobs created and retained in the respective LCDC Districts. A few key success examples: US Bank Call Center (River District: 472 new jobs), NightHawk Radiology (Lake District: 173 retained jobs), Kroc Community Center (Lake District: 150 new jobs).
Summary Table |
New |
Retained |
Total |
Lake District |
780 |
484 |
1264 |
River District |
597 |
12 |
609 |
Total |
1377 |
496 |
1873 |
(“New” = new jobs created in CDA) / (“Retained” = jobs retained in CDA)
