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Development -DRAFT <br />DATA <br />Comparatively weak office and retail <br />lease & vacancy rates <br />...__..._..- - - -- - - - -- .... - -- <br />Comparatively strong industrial lease <br />rates <br />Extremely high Class A office vacancies <br />-23% <br />Mall vacancies high - 14% <br />2015 saw negative net commercial <br />absorption overall <br />INFORMATION SOURCES TAPPED <br />Real estate brokers <br />..Commercial developers <br />Manufacturing businesses <br />Small businesses <br />Community members <br />HEARD. INFERRED. & OBSERVED <br />City not experienced same level of <br />investment as neighbor cities since <br />upturn <br />Significant inventory of dilapidated / <br />_outdated retail <br />Permitting and entitlement process <br />issues - too slow and cumbersome <br />........ .................... ...... ....° _ -- -- -- -- ._.. - -- <br />City codes overly complex <br />Too much uncertainty generated by <br />high levels of discretionary approvals <br />Poor customer interface at City Hall <br />Need to improve overall City image to <br />attract investment <br />Need some "high profile" wins to market <br />and improve investor interest <br />Not enough new rental housing near <br />downtown to support local businesses <br />New rental housing needs to serve <br />multiple audiences for different income <br />and lifestyles <br />WHAT IS WORKING <br />Location and freeway,access <br />Staff, interaction with developers <br />Housing in walkable areas to support <br />local retail and promote health <br />CITY STRATEGIES <br />Increase_by -right development opportunities to.signifi can <br />tly- reduce discretionaryprocedures <br />Focus density opportunities on major corridors /transit centers and southeast commercial pockets <br />Ensure a range of incomes in new rental housing development focused in walkable nodes through the <br />use of in -lieu and other available housing funds <br />- <br />_._.. -- - <br />----------- ------ - --- - -- - - - <br />-- - - - -- ---------------- - _- ......_- - -._._ ---- -- ------ ----------------- <br />Develop a marketing and branding strategy, and uphold its promise including training at City Hall at <br />public counters......,._ <br />............ ..,- - ...__........ ---- -- -- ---- <br />Increase and improve connectivity with local businesses to achieve ED goals; including defining roles <br />for Chamber and City staff <br />25A -11 <br />