Community Builder PILOT Proposal Binghampton Gateway Center Dorian Spears Emmett McKnight Binghampton Development Corporation (BDC) Project Overview • 48,565 sq.-ft. Grocery-Anchored Commercial Development • Located at SE Corner of Tillman and Sam Cooper • $6.8 MM Capital Investment • 55 Net New Jobs • 15-year Community Builder PILOT • 75% City and County Abatement Binghampton Development Corporation (BDC) Background Binghampton BDC has been working on a holistic community development strategy since July 2003 to address long-term systemic poverty in the neighborhood. • Binghampton’s Boundaries – Summer (North), Holmes (East), Poplar (South), and East Parkway (West). 8,000 Residents Live in 3,000 Households • 11% Housing Units Vacant or Abandoned • 60% Occupied by Renters • 33% Households No Wage Earners • 27% No Access to Vehicle • 80% Residents Say Area Needs a Grocery Store • 50% Residents Say Ideal Location Should be at the Corner of Tillman and Sam Cooper • Median Income $26,000 • USDA Designated Food Desert Binghampton BDC Background Continued BDC investments to date • $8M in Properties; $7.8 in Programs • 90 Renovated Homes • 17 New Housing Units • 30 Homes Sold • 692 People to Avoid Foreclosure Binghampton Gateway Center Plans for Space 48,565 Sq.-Ft. Grocery Anchored Commercial Development • 16,325 Sq.-Ft. National Value Grocer (Anchor) • 10,000 Sq.-Ft. National Value Household 
 Goods Retailer (Junior Anchor) • 7,240 Sq.-Ft. Additional Retail space • Parking Lot • Site Development Real Property Investment Category Capital Investment Purchase Price of Land $609,000 New Construction/Site Improvements $5,321,595 Soft Costs $914,660 Total $6,842,555 Binghampton Gateway Center Community Benefits Addressing Significant Community Needs • Blight Abatement • Food Access • Local Job Access • Hope • Organizational Growth & Sustainability Binghampton Gateway Center Development Team Steve Bowie – Commercial Development Advisor Shawn Massey – Retail Leasing Advisor Robert Montague – Board Member/Project Management Support Noah Gray – Executive Director/Project Manager Fleming Architects and Kimley – Horn & Associates, Inc – Design Team Binghampton Development Corporation (BDC) Project Overview • 48,565 sq.-ft. Grocery-Anchored Commercial Development • Located at SE Corner of Tillman and Sam Cooper • $6.8 MM Capital Investment • 55 Net New Jobs • 15-year Community Builder PILOT • 75% City and County Abatement Community Builder PILOT Proposal MLB Uptown, LLC Dorian Spears Emmett McKnight MLB Uptown, LLC Project Overview • 25,900 Sq.-Ft. Grocery Store • Located at 544 Jackson Ave. • Former Chism Trail Grocery • $4.8 MM Capital Investment • 15-year Community Builder PILOT • 75% City and County Abatement MLB Uptown, LLC Background MLB  Uptown  is  a  501  c(3)  that  has  managed   $150  MM  in  investment  over  a  100  city  block   area  with  268  single  family  homes,  549   mulIfamily  units,  69  senior  units  and  has   facilitated  the  development  of  500  vacant   parcels  in  the  Uptown  neighborhood.  MLB   Uptown  is  a  USDA  classified  food  desert  with   68%  of  residents  having  low  access  to  fresh   foods.     Real Property Investment Category Capital Investment Purchase Price of Land $717,000 Site Improvements $1,950,000 Soft Costs $350,000 Total $3,017,000 Personal Property Investment Group Capital Investment Furniture, Fixtures, General Equipment & All Other Property Not Listed $1,800,000 Total $1,800,000 VII-war .. h? Lin: "31 .I. .. I I1 5&illIt}. slit-II tuna-?Inna a u. . .. Ital. Ill-q. ll I I?ll!? til. 1.53." 5 hhams. .I ii :Llsd? I. El. .9 . Iii-.5: MLB Uptown, LLC Project Overview • 25,900 Sq.-Ft. Grocery Store • Located at 544 Jackson Ave. • Former Chism Trail Grocery • $4.8 MM Capital Investment • 15-year Community Builder PILOT • 75% City and County Abatement