MAYORS INSTITUTE September, 18, 2013 DESTINATION WHITING,
INDIANA
Slide 2
Striving for Diversified AV Growth Enhance Business Corridors
Improve Housing Inventory There are different ways to do it Whiting
is betting its through tourism related development OUR
STRATEGY
Slide 3
Luck played a bigger part in our story than talent did Probably
no surprise to you! DISCLAIMER
Slide 4
To give you a perspective of Whitings geography, heres an
aerial view of the city LAY OF THE LAND
Slide 5
WHY TOURISM? Whitings 4 Top Assets are:
Slide 6
bp
Slide 7
Slide 8
Slide 9
Slide 10
All 4 Assets support the theme BP - Engaged Partner - Tax $$ -
Tourism Asset (think Hershey, PA) Main St. Supports the visitors
Pierogi Fest 300K visitors Proximity to Chicago = 9.5 million
people WHY TOURISM?
Slide 11
We knew we needed a catalyst Lakefront Development was the
obvious place to start With the help of American Structurepoint, we
created a plan Implementation of the Plan was estimated to cost
$50M HOW DID WE START?
Slide 12
We then shopped the plan to anyone who would listen It all came
down to finding someone crazy enough to publicly beg for $30M HOW
DID WE START?
Slide 13
LOOK NO FURTHER
Slide 14
$50M Lakefront Development $20M RDA Grant $20M TIF Bonds
(single taxpayer) $6M Federal Grants $3M BP Contribution $1M Pocket
Change SECURED FUNDING
Slide 15
WHATS BEEN COMPLETED?
Slide 16
Slide 17
Slide 18
Slide 19
Slide 20
WHATS IN PROCESS NOW?
Slide 21
Slide 22
Slide 23
Slide 24
Slide 25
WHATS on DECK? BPs $4 billion modernization project will hit
the tax roles in 2014 Will allow me to: Issue a new bond for $$$
Retire the $20M Lakefront bond
Slide 26
LF - STADIUM DISTRICT $20M Lakefront Hotel Lakefront Restaurant
150,000 sf mixed-use development 3 in 1 Museum Senior Apartments
Residential Condos Single Family Were far from done . 3 years?
Slide 27
Slide 28
Slide 29
Slide 30
Slide 31
Slide 32
BP plans to build a new ginormous Office Campus $$$ Adjacent to
Oil City Stadium All in our TIF Primary driver for location
selection was our Lakefront Plan ICING ON THE CAKE
Slide 33
Analyze your strengths Assets You must have a Plan & Vision
No one will take you seriously You dont have to reinvent wheel
Shamelessly promote your City until you run out of liquor, then
start again TIPs
Slide 34
Start small We started with acquisitions Recruit a corporate
partner(s) Hire a grant writer UTILIZE TIF Be Relentlessly
Persistent Took me 7 years TIPs
Slide 35
Slide 36
Slide 37
Slide 38
If Whiting can get this far with me steering the ship, skys the
limit for you guys! ENCOURAGEMENT
