By Brett Milam
Editor
Editor’s Note: This is a story written last week, but due to space constraints, we were unable to get the story into the paper.
The Pierce Township Board of Trustees held a special meeting on April 28 to discuss the COVID-19 impact study they commissioned, as well as the potentiality of a Community Improvement Corporation to oversee economic development.
Due to the COVID-19 pandemic and the resulting federal CARES Act funding state and local governments received, the township contracted with Red Tiger Investments, LLC and the Kolar Experience Institute to “develop a study and economic recovery framework for the Pierce/Amelia commercial corridor.”
Loretta Rokey, township administrator, told The Sun the township paid $49,350 for the impact study.
The commercial corridor in question is a 1.5-mile portion of SR-125 that runs through the former village of Amelia, anchored by Kroger to the west and fast-food restaurants in the east.
According to Red Tiger Investments, they look to inspire economic development through “planning, real estate, public-private partnerships and collaboration.”
KEI is a research institute, which aims to “use data analytics to measure the positive impact of place on people, with the ultimate goal to drive better business results.”
Megan Hasse, with KEI, presented to the trustees. She said she personally sat down with 15 or so local businesses to ask them questions from the survey about “what help looks like.”
Hasse said the two major obstacles they identified were the incorporation and integration of the former village of Amelia, and the communication, or lack thereof, between private and public sectors within the township.
There was also a survey about the impact of COVID-19 on township businesses, with 11 business responses, most locally-owned. The primary concern among business owners was and is protecting customers from COVID-19 at 64 percent followed by lost revenue at 45 percent.
Most respondents also said beautification should be a top priority in the township.
In a follow up with Hasse, Nick Kelly, trustee, wanted to hear more concrete specifics about communication strategies.
She recommended a monthly newsletter from the township to give businesses updates.
“Business owners kinda feel like they’re on an island,” Hasse said. “There’s no real relationship between the corridor.”
A full copy of the 98-page draft study can be found here: https://bityl.co/5xX9.
Another big chunk of the recommendation from the study, which was presented by Brenda Wehmer, an attorney with Dinsmore & Shohl in Cincinnati, who works with the township on economic development, concerned creating a CIC.
Wehmer explained that under state law, CICs are not-for-profit corporations, which are formed for the purpose of economic development, as well as civic development.
Typically, CICs have the power to borrow money for any purpose of the CIC, to issue bonds and notes, to provide loans (only if the recipient has been turned down by ordinary banking or commercial channels), and to purchase, receive, hold, manage, lease or otherwise acquire and sell, convey, transfer, lease, sublease and dispose of real or personal property, she explained.
People who sit on the Board of Trustees of a CIC are elected or appointed representatives from political subdivisions involved in the CIC, members of local Chambers of Commerce, school district officials, members of the business community and other interested citizens.
Wehmer also pointed out that the CIC would parlay into the aforementioned issue in terms of playing a marketing and branding role, and to help promote the community.