ACTIVATE LA (formerly “L.A. PLAN”) is a subsidiary of the LAEDC and partners with the public sector, nonprofits and philanthropic institutions throughout Los Angeles County to deliver real estate and financing solutions that attract businesses and jobs from the industries and sectors that are, or will be, leading the Los Angeles regional economy. ACTIVATE LA deploys the multi-disciplined talent of the LAEDC staff and the LAEDC membership – including some of the region’s most prominent real estate attorneys, developers, architects, and financiers – to form public-private partnerships that accomplish the complementary dual goals to maximize the value of publicly-owned real estate assets and to advance the public sector’s economic development and job generation priorities.
Public Landowner Dilemma
The striking effects of structural reorganization, operational consolidation and budgetary pressures faced by local government departments and the significant reductions in Federal Funds, such Community Development Block Grant (CDBG), in conjunction with the elimination of the redevelopment agencies throughout California in February 2012, have left the County and its 88 cities without many of the traditionally important tools necessary to revitalize communities, generate economic growth and prosperity, expand the job base, and increase county revenues.
This confluence of events has left many publicly-owned properties either inactive or underutilized – and without any resources and ideas on how to best finance and develop these withering assets. In short, resource strapped public agencies need assistance to facilitate development of those assets.
ACTIVATE LA assists municipalities and other public entities throughout L.A. County, helping them to think more strategically about their real property holdings; to develop and deploy innovative solutions to finance and cost-effectively develop under-utilized, unused or unrealized publicly-owned properties; and to maximize the value and return to the municipality and the broader community at-large.
Specifically, ACTIVATE LA does this by:
- Identifying publicly owned properties ripe for development and new business attraction and/or expansion;
- Developing and implementing a strategic asset management plan for the economic development of publicly owned land parcels or larger areas;
- Providing planning, infrastructure development, project management, and permitting assistance in support of land and real estate development;
- Structuring innovative and cost-effective financing strategies and solutions;
- Identifying and accessing funding streams that are either unknown or not available to government entities;
- Negotiating detailed terms for economic development projects, such as: construction, development and risk management of economic development transactions to achieve the best outcome at the least risk;
- Managing the development of key parcels or large areas owned by the public sector, including the sale and redevelopment of excess publicly-owned assets and strategic development opportunities where the public sector has an important ownership or economic development interest; and
- Managing project implementation, where necessary and appropriate.
The Benefits of Partnering with ACTIVATE LA
- Faster and less costly parcel development, financing and delivery
- Increased property values
- Increased local property tax revenues
- Additional revenue generated through development profits
- New and/or additional public facilities
- More construction and permanent jobs
- Local business retention and attraction
- Community development and revitalization
- Development of regionally significant industry clusters
- Expanded “3E” outcomes: economic growth, environmental sustainability, and greater shared equity
- LAEDC’s USCIS-approved EB-5 regional center provides municipalities with access to low interest rate financing for qualifying projects
Contact Carolyn Hull at [email protected]