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HomeMy WebLinkAbout55D - NEIGHBORHOOD MARKET ANALYSIS REQUEST FOR COUNCIL ACTION ~ ;:~~~ y '\!..:,. CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: JUNE 20, 2005 TITLE: RESOLUTION AUTHORIZING A NEIGHBORHOOD MARKET ANALYSIS BY SOCIAL COMPACT APPROVED o As Recommended o As Amended o Ordinance on 151 Reading o Ordinance on 2nd Reading o Implementing Resolution o Set Public Hearing For (I //) / /",J"l . t-/72t-,L /' .I ((;-~(~~ - CITY MANAGER CONTINUED TO c( FILE NUMBER RECOMMENDED ACTION Adopt a resolution authorizing the preparation of a Santa Ana Neighborhood Market Drilldown analysis by Social Compact. COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION Recommended that preparation of a Social Compact. the Ci ty Council adopt a resolution authorizing the Santa Ana Neighborhood Market Drilldown analysis by By a vote of 5:0 Meeting of June 7, (Robles, 2005. Sarmiento absent) at its Regular DISCUSSION The Neighborhood Market Drilldown is a pioneering market analysis model that reveals the hidden strengths of traditionally undervalued communities. The Drilldown analysis concept was developed as a response to traditional market analysis, which systematically shortchanges urban markets. Social Compact works to develop urban market analysis models that measure the three core market drivers including: a) size/growth, population change, households and daytime population; b) buying power (especially cash economy), i. e. aggregate household income, households without banking relationship; and c) risk and stability. Social Compact has studied Chicago, Cleveland, Houston, Harlem, and Washington D.C. and has found that these markets are: a) much larger; b) changing faster; c) with substantially different land valuations; d) much safer than perceived; e) have a stronger base of stakeholders; and f) have greater buying power than expected driven by a substantial cash economy. When considering where to perform a market analysis, Social Compact's criteria includes: a) markets poised for change, l.e. 550-1 Resolution Authorizing a Neighborhood Market Analysis by Social Compact June 20, 2005 Page 2 fundamental strengths, misrepresented, underserved; b) key leadership; and c) active business community. The proposed study areas, Exhibits 1 and 2, encompass large portions of the Empowerment Zone and the Downtown. Information sets available through state and local government are necessary to proceed with the Drilldown. Staff will assist in obtaining these information sets which include tax assessment data, building permit information, crime data, vehicle registration, land use, school data, utility data, financial institution information and commercial business license records. As was the case in other cities, the findings from the Drilldown are anticipated to be of great value in supporting initiatives to improve economic opportunities in Santa Ana. Social Compact is a non-profit corporation that is led by business leaders from across the country and promotes successful business investment in inner city and rural communities. This leadership includes the Federal Home Loan Bank of San Francisco, Fannie Mae, First American Financial, State Farm, Neighborhood Reinvestment, Affinity Bank, the Principal Financial Group, Washington Mutual and former Governors of the U.S. Federal Reserve Bank. The Drilldown analysis is estimated to cost $225,000 and national financial institutions partnering wi th the Social Compact Board, along wi th local sponsorships from Neighborhood Housing Services of Orange County, First American Financial, Santa Ana Federal Empowerment Zone and Fremont Investment are anticipated to fully fund the study, without a financial contribution from the City of Santa Ana. FISCAL IMPACT There is no fiscal impact associated with this action. lvt patric~a U Executl v Community fttwa-u0 Whitaker Director Development Agency PCW/SK/mlr H:\ACTIONS\200S CC\ResoAuthNeighborhoodMktAnalysisSoccompact 6-20-0S.doc 550-2 "0 o o "O-C C s- CO 0 C .0 OJ--C N Z .- LO ~-Q)O C<(ZC\i Q)(j)s-('\J E ~__ s- "0 . - ('t') Q)Q)D..."O ~Q)coQ) o (j) .- 00 00._ tE"O~a; o c<(s- Wco ~ () CO E.C 0"0 U::J () C co .- () o (j) "0 Q) 00 o ~ co Q) s- <( 5 ,8 w", ~~ 5:f Ow ~m ..:j g8 ;)j~ a ~ A" 3031lCY.) .lS~_S_~~ l;; :r ~ AV AS1VO l;; ~ .~..,. ~ ~ 3 ~ f ~ ' i l;;~l ~3 :r l- e; ~ "0 Q) Q) S > <C z: o .... Cl z :i: et) ~ '3 ~ iiI w " '3 f .... et) .... et) ..... lS~l."'~ _,.J.Sl:I~ I- " ~ <> <> '" 8 N I- '" ~ Co .~ ~. N o . ~ to I'- ^,1f:H~::>Vd r~ ~l ~I :> JJ 6~': o:w. ~~. Q;: 0 1S lS3liJo~ l;; ~ I- '" ~ J.S NvllBdS3H I- " r ~ 0: t; :5 ~_ U~ ~~ ".. .?9..: AV M:l31.S3M ^y ~srvo-' 1$ ON3SNNtOl I- " ~ > -< o ~ -< .... et) .... et) ..... 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IS 31O/0I'N:JAS .~. ....lC) ~ f'.- LS LNV!lna LSHOlil1 i ::; w uj ffi OJ . '" , - ~ ooz\' J5"c5 ...., ~~8 := f-: 0::.(1) :z e~ :E: -CI')-a... :J LS b IS > ...J CO LS <:> <:> ... . Is 'H3MOi.:l E5~~4 2 5/25/05 les RESOLUTION NO. 2005-060 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA AUTHORIZING THE PREPARATION OF A SANTA ANA NEIGHBORHOOD MARKET DRILLDOWN ANALYSIS BY SOCIAL COMPACT BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: A. Social Compact is a non-profit corporation that is led by business leaders from across the country, including but not limited to, the Federal Home Loan Bank of San Francisco, Fannie Mae, First American Financial, State Farm, Affinity Bank, the Principal Financial Group, Washington Mutual and former governors of the U.S. Federal Reserve Bank. B. The Neighborhood Market Drilldown ("Drilldown") performed by Social Compact is a pioneering market analysis model that reveals the hidden strengths of undervalued communities. Social Compact's criteria for performing a market analysis include reviewing a location that is poised for change, has strong leaders and is an active business community. The findings by Social Compact will be of great value in supporting initiatives to improve economic opportunities in Santa Ana. C. The City of Santa Ana wishes to provide necessary information sets to Social Compact for the Drilldown. These information sets include tax assessment data, building permit information, crime data, vehicle registration, land use, school data, utility data, financial institution information and commercial business license records. D. The neighborhoods that will be associated with the Drilldown study are depicted on Exhibits 1 and 2. These proposed study areas encompass large portions of the Santa Ana Empowerment Zone and the Downtown. Section 2. The City of Santa Ana authorizes Social Compact to perform the Santa Ana Neighborhood Market Drilldown for the City, at no financial cost to the City. Section 3. The City of Santa Ana hereby authorizes and empowers 550-5 5/25/05 les the Executive Director of the Community Development Agency or her designee to provide Social Compact with all of the necessary information in order for it to perform the Santa Ana Neighborhood Market Drilldown. Section 4. This Resolution shall take effect immediately upon its adoption by the City Council, and the Clerk of the Council shall attest to and certify the vote adopting this Resolution. ADOPTED this day of ,2005. Miguel A. Pulido Mayor APPROVED AS TO FORM: Joseph W. Fletcher, City Attorney By: Lisa E. Storck Assistant City Attorney AYES: Councilmembers: NOES: Councilmembers: ABSTAIN: Councilmembers: NOT PRESENT: Council members: CERTIFICATION OF ATTESTATION AND ORIGINALITY I, PATRICIA E. HEALY, Clerk of Council, do hereby attest to and certify the attached Resolution No. 2005-060 to be the original resolution adopted by the City Council of the City of Santa Ana on Date: Clerk of Council City of Santa 550-6 E.C 0"'0 O:J U C 0) C Of- N 2 .0) ~ -+-'<(2---- a5C/)L-N E ~~ L-"'On. O)O)LL.-"'O ::> 0) CO 0) > C/) .- 00 o 00._ "'00)> C 1::: 0) CO <( L- 3 3 8 .... ~ < ;:; m ;: :. ~ ii: , 0: t:; W ~ ~""">. " ~ .... '~l m .- "- ~ 3-, ;: i5 ~o>6.!:~ ~ ^'rI 3!)31~ .LS~S_~ t:; " = ^V..\SMJ . 5 ,~ w'" ~l: g~ 0.. ~~ ..:j ~8 :i~ ~ .... m ~ t:; Ii ~ 2: o .... el 2: :r (I) ~ N o N to I"- .... m ~ z .., ~ ill " 3 1 t:; :i: 'M' to ;: . ~~ ~""'. La ~"f'- ';,%N~ ~ .... m ~ '0 o ;:; -l~41~ . ..... ....~cY/~ ';,~"'iil /.'.:" J:,:)UJ~ / @. Ii ~ill@' " / / ~ <l: .... ~. 10 .... m ~ .... (I) .... 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