BAE Prepares Infrastructure Financing District (IFD) Plan
We have been engaged by the Port of San Francisco to prepare one of the first Infrastructure Financing District plans, in accordance with California's regulatory framework. The IFD is an under-used method of financing infrastructure for revitalization, and is expected to become a key mechanism as California dissolves its longstanding Redevelopment Agencies on February 1, 2012. Please contact us for more information, including how your city or county can utilize this mechanism to generate tax increment for public investments.
Brooklyn Bridge Park Funding Study Completed
BAE has been engaged by the Brooklyn Bridge Park Corporation to assess potential additional funding sources to implement the full construction and operate this world-class new urban park. The original financing plan called for substantial funding to be contributed by private developers in exchange for the ability to develop residential projects; however, this strategy has continued to generate concern by many stakeholders in the process. BAE explored nine funding strategies approved by agreement among stakeholders and elected officials, including sponsorships, increased user fees, and special events fees. The report was finalized in Spring 2011 and is available at: http://www.brooklynbridgeparknyc.org/about-us/project-approvals-presentations.
BAE Opens Los Angeles Office
To serve our growing client base in southern California, BAE opened its 5th office in the Mid-Wilshire area of Los Angeles. One of our most seasoned Senior Associates, Sherry Rudnak, LEED-AP, is working in this new office, supported by all BAE staff including Ron Golem, Principal, and Janet Smith-Heimer, Managing Principal.
BAE Supports America's Cup Partnership Structuring
BAE worked with the Port and City of San Francisco to structure a complex public-private partnership to attract the 34th America's Cup to San Francisco, resulting in the successful selection of San Francisco after a competitive global process. Utilizing world-class waterfront locations, facilities for America's Cup events will be funded by capital improvement investments by the America's Cup organization in exchange for future long-term ground leases of Port properties for development.
BAE Preparing Downtown LA Economic Development Strategy
We have been selected to prepare the Downtown Los Angeles Market Analysis and Economic Development Strategy for the Community Redevelopment Agency of Los Angeles and the Department of Planning. The work will include detailed job trends analysis and dozens of interviews and focus groups with area business leaders to identify key strategies to foster job growth in downtown's thriving districts.
Baltimore State Center Lease Negotiations a Success
The State of Maryland's initiative to develop a new office complex in downtown Baltimore has been approved by the legislature. BAE supported this 3 million square feet mixed-use redevelopment project from initial planning through developer negotiations. Set in a distressed urban neighborhood at the hub of multiple transit lines, State Center will generate over 3 million square feet of modern office space, 250,000 square feet of retail space, and 2,000 mixed-income housing units when completed.
BAE Supports Major CleanTech in Silicon Valley
BAE has served as the real estate and economic development advisor to NASA Ames in Mountain View, CA since 1999. Our work has resulted in major development agreements with Goggle, University of California at Santa Cruz, and numerous clean-tech start-ups including Bloom Energy. BAE has prepared economic development strategies, summarized NASA Ames' economic impact and innovative collaborative science research, and formulated infrastructure financing programs. Due to our record of success, BAE was also engaged to manage NASA's Technology Partnership, a collaborative research program in conjunction with leading Silicon Valley technology companies.
BAE's Principal Serves on ULI Los Angeles CleanTech Panel
Ron Golem, BAE Principal, recently served on the Urban Land Institute's Advisory Panel for the City of Los Angeles to enhance its CleanTech Corridor Initiative. The Panel had great success reviewing the City's cleantech opportunity sites, economic growth, and specific company needs for infrastructure.