Partnership for Rhode Island’s Post

🚨 Big news for Connecticut! 🚨 Senators Chris Murphy and Richard Blumenthal have announced a substantial $33 million funding boost for various projects in the state, as detailed in their press release on August 6. 💰🏗️ This new funding, included in the latest Appropriations bills, brings the total federal earmarked spending for Connecticut to a remarkable $109.6 million. 📈 Priorities for these funds include: • Workforce development 👷♀️👨🏫 • Healthcare access 🏥 • Small business growth 🏪 • Significant infrastructure improvements 🛣️🌉 Professionals and businesspeople in Westchester and Fairfield should take note of these transformative investments that promise a brighter and more prosperous future for the region. 🌟 Why should you read the full article? The detailed breakdown outlines exactly how these funds will impact local businesses and community projects, providing essential insights and opportunities for strategic planning. 📊💡 👉 Discover more details on our website: https://lnkd.in/e4h8sCht #westfaironline #connecticut #westchester #fairfieldct #todaynews #localbusinessboost #economicgrowth #infrastructuredevelopment #workforcedevelopment #healthcarefunding

The article highlights significant investments in transportation infrastructure in Alabama following the passing of various appropriation bills. Senator Katie Britt secured over $42 million for projects aimed at modernizing roads, airports, and inland ports across local communities. These investments are expected to enhance safety, spur economic development, and create jobs statewide. Additionally, funding for national highway programs underscores the commitment to improving transportation networks in Alabama. #Alabama #Transportation #Funding

📋 Fall Conference Session Highlight 📋 Gino Galluzzo, Karl Marschel, and Jennifer Tammen are bringing their experiences from the public and private sides of the negotiating table to talk Redevelopment Agreements. Now more than ever, communities look to leverage local #incentives to support #economic #development initiatives, invest in #infrastructure, and create an environment that attracts and retains investment.  During this presentation we will address the key elements for municipalities to consider when negotiating redevelopment agreements (“RDA”) with developers. The session will explore ways to navigate complex options, become a partner with the local unit of government, and enhance the project benefit. Topics discussed include: 📝 The structuring and methods of monetizing #TIF incentives including RDA provisions that can affect or limit the options for monetization.  📝 Building a #capital #stack that may involve layering of available incentives from #TIF, Sales Tax Rebates, Enterprise Zone Benefits, Business Development Districts, Tax Abatements, and Grants.  📝 The process for projecting the sums payable from each revenue source 📝 Partnering with the developer to balance loans, incentives, and recapture agreements.  📝 Team building with other stakeholders such as school districts to foster consensus and ensure success of the project and a benefit to the community as a whole. 📢 Register Now: https://lnkd.in/g8tUJ-ww When: Wednesday, September 18 Where: Summit Chicago

This Government Market News publication explores why more cities and counties are not embracing PPPs in the USA. Mary Scott Nabers tates that it is hard to to understand why some cities and states have not endorsed public-private partnerships #PPPs when they have such pressing needs. There are many resources that can be accessed. They include the billions of funding support which is available for critically needed efforts which require some percentage of private sector investment and incentivized public-private partnerships with tax credits for investors. For cities and counties leaders who are hesitant, they should take a look at the innovative projects that have been launched in the City of Alexandria, New Jersey, and Puerto Rico for inspiration. To read more, follow the link below. https://lnkd.in/ep2c3VCG

Yesterday’s Kings Speech highlighted that ‘Ministers will get Britain building, including through planning reform, as they seek to accelerate the delivery of high quality infrastructure and housing.’ The driver for this will be a new Planning and Infrastructure Bill ensuring that the planning system is an enabler of growth and enabling democratic engagement with how, not if, homes and infrastructure are built. The new Planning and Infrastructure Bill aims to achieve this including by: - Speeding up and streamlining the planning process to build more homes of all tenures but does not expressly mention the return of mandatory house-building targets; - Improving local planning decision making by modernising planning committees; - Increasing local planning authorities’ capacity, to improve performance and decision making, providing a more predictable service to developers and investors through boosting capacity and speeding up decision-making; - Enabling relevant new and improved national policy statements which provide opportunity to be updated every five years; - Using development to fund nature recovery where currently both are stalled, unlocking a win-win outcome for the economy and for nature; and - Further reforming compulsory purchase compensation rules to ensure that compensation paid to landowners is fair but not excessive. It is important to highlight that the Kings Speech also included an English Devolution Bill which will establish a new framework for English devolution, moving power out of Westminster and back to those who know their areas best including enhanced powers over strategic planning.

Yesterday was a historic day for economic development in Pennsylvania with over $1 billion approved for community and economic development projects and initiatives. Through the passage of a bipartisan state budget, the Commonwealth reaffirmed its commitment to growing the state’s economy and reinvesting in its communities. The bipartisan budget includes: 🏗️ $400,000,000 for site development 🌇 $20,000,000 for downtowns and main streets 🤝 $72,000,000 for community-driven public private partnerships 🏦 $50,000,000 for rural business development 🏞️ $29,000,000 for tourism promotion 🚰 $50,000,000 for small water and sewage infrastructure projects 🛠️ $10,000,000 for mixed-use revitalization and mall redevelopment 🏠 $70,000,000 for affordable housing initiatives 🏛️ $20,000,000 for historic building preservation As part of the bipartisan budget deal, Pennsylvania also tackled critical policy issues, including: 📋 Permit reform, streamlining state permitting processes for economic development projects 📈 Net Operating Loss (NOL) reform, reducing the tax liability for Pennsylvania’s start ups and innovators 🏙️ City Revitalization & Improvement Zone (CRIZ) reform, modernizing a powerful tool for downtown revitalization 💼 Permanently reauthorizing the Pennsylvania Minority Business Development Authority (PMBDA), providing support for the Commonwealth’s minority business community for decades to come Under the leadership of Office of Governor Josh Shapiro, Pennsylvania is open for business, getting stuff done, and investing in a better tomorrow for every resident that calls the Commonwealth home. More info to come on each of the bipartisan budget initiatives.

🔑 Attention Real Estate Professionals and Business Owners in Florida! 🔑 Did you know that eliminating the Business Rent Tax (BRT) in Florida could lead to significant economic benefits for the state? 🌴📈 A recent study commissioned by Florida Realtors reveals that by investing $976.8 million to eliminate the BRT, the state could expect a whopping $4 billion return in the first year alone, and a staggering $19.7 billion over five years in new business growth and operations. 🏢💰 Here are some key takeaways from the study: ✅ Over 58,000 new construction, operations, and maintenance jobs would be created over five years. ✅ For every dollar invested in eliminating the BRT, Florida would receive more than $6 in new economic activity. ✅ Small businesses, which make up 99% of all Florida employers, are disproportionately impacted by this tax. By reducing the financial burden on businesses that lease space, we can foster a thriving business environment and encourage further growth. The elimination of the BRT would not only benefit large corporations but also help small businesses expand, hire more employees, improve benefits, and raise salaries. 💼💼💼 Let's rally together and advocate for change! 🤝 Share this post and spread the word about the benefits of eliminating the BRT. Together, we can make a difference and support the continued growth of our local communities. 🌇🏘️ #FloridaRealEstate #BusinessRentTax #EconomicGrowth #SmallBusinessSupport #AdvocateForChange #CommunityGrowth

In light of the King's Speech, Suffolk Chamber of Commerce has issued an initial response as follows: “Whilst we will look for more detail in the days ahead, Suffolk Chamber of Commerce is broadly appreciative of those pieces of legislation in the King’s Speech that seek to enable stronger and more sustainable economic growth. As such this appears to be an early and strategic confirmation of what businesses are looking for in general terms: a long-term plan, backed by a clear role for Government in then allowing the private sector to do what it does best: generate wealth and employment.    “In particular, we welcome the intentions behind the Planning and Infrastructure Bill as long as it does indeed accelerate the delivery of high quality infrastructure projects such as Ely/Haughley Junctions, improvements to the strategic roads in the county and improved 4G and 5G connectivity, as well as housing, the Better Buses Bill as rural isolation in Suffolk and access to work and study, especially for our younger citizens is a major drag factor in boosting business investment and household incomes and the English Devolution Bill, as we believe that Suffolk has suffered for too long from the ‘Whitehall knows best’ philosophy, which has consistently resulted in unfair funding and missed opportunities. However, we are concerned that any new powers will be limited to metro mayors and combined authorities - once again putting Suffolk at a disadvantage.   “For similar reasons, Suffolk Chamber likes the intent behind the Great British Energy Bill given our county and region’s enormous existing strengths in the renewables sector. Noting that the proposed company will be headquartered in Scotland, we think it vital that it also has a presence here in Suffolk to ensure the needs of existing and prospective energy companies are not overlooked and investment opportunities are maximised.” #SuffolkChamber #Suffolk #KingsSpeech

Debunking the Misconception: MPs as Owners of Development Projects The erroneous perception of a Member of Parliament (MP) as the proprietor of developmental initiatives arises from a misinterpretation of the MP's function and obligations. In numerous democratic frameworks, an MP serves as a representative of a specific constituency, with their principal responsibilities encompassing the formulation of legislation and the representation of their constituents' interests within the national legislature. Nonetheless, in certain communities, MPs are frequently regarded as being directly accountable for the initiation or execution of development projects, including the construction of infrastructure such as roads and schools, or the provision of other public amenities. In various nations, particularly those characterized by inadequate public services and limited infrastructure development, MPs may assume a prominent role in advocating for or facilitating development projects. Over time, this phenomenon engenders the perception that the MP has personal ownership or exclusive responsibility for such undertakings. In actuality, development projects are generally financed and overseen by governmental agencies or development partners, rather than by the MPs themselves. During electoral campaigns, MPs or candidates for parliamentary positions often commit to executing specific development initiatives contingent upon their election. Although they may possess the capacity to lobby for these projects, their capacity to fulfill these commitments is constrained by the policies and fiscal limitations imposed by the government. When they do fulfill these promises, constituents may occasionally attribute the resultant development directly to the MP, rather than to the government or pertinent authorities. In certain countries, MPs may have access to Constituency Development Funds, which they can designate for particular local projects. This often amplifies the perception that MPs serve as direct providers of development. However, it is crucial to recognize that these funds are public assets allocated for local development purposes, rather than being the personal financial resources of the MP. Instances of mismanagement or a lack of transparency in the utilization of these funds may reinforce the fallacy that the MP is personally financing development. The distinction between the legislative and executive branches of government is not invariably well comprehended. Many individuals may not fully appreciate that while MPs are empowered to advocate for projects, it is typically the executive branch (through relevant ministries, departments, and agencies) that possesses the authority to plan, finance, and implement development initiatives. Continuation is in the comment.

“My Ministers will get Britain building, including through planning reform, as they seek to accelerate the delivery of high quality infrastructure and housing”   These were the words of King Charles III as he introduced the Planning and Infrastructure Bill during Wednesday’s #KingsSpeech. As expected, the bill promises to unlock new housing supply by removing planning obstacles, empowering local leaders and delivering on major infrastructure projects. Labour has been vocal about its ambitions to turbocharge housing and infrastructure. Investment here is an important part of a wider reboot of the UK economy, as Chancellor Rachel Reeves has made clear. If we can truly ‘get Britain building again’, as Labour has promised, this ambition should support significant economic growth, making Britain an attractive opportunity for investment in these industries.   In the thick of a housing crisis and with so much discussion around supply, I have been thinking about the complexities of this issue. Building new homes is one, absolutely essential, way of tackling the problem, but the reality is we must have a diversified approach. Retrofitting existing buildings to inject fresh housing supply is another, as I recently wrote about. However, an area I’ve seen less discussion around is retirement living. A 2020 study from Cass Business School, ARCO (Associated Retirement Community Operators) and Centre for the Study of Financial Innovation found that a staggering 9 million households aged over 65 are living with surplus bedrooms. While young families struggle to buy, older generations are occupying larger spaces than they often need or want.   Investment in retirement living is another way to unlock housing supply. With all the associated economic and societal benefits of increasing home ownership, part of tackling this mammoth issue is not just increasing volume but allocating housing stock more efficiently across our population.   I wrote a detailed piece last year on this topic, which you can read here: https://lnkd.in/ejRg7J95 #Housing