Don't Drown on Bad Choices or Numbers: A Rational Economic Model for Newport's Waterfront

Don’t Drown on Bad Choices or Numbers: A Rational Economic Model for Newport’s Waterfront Teresa Crean, AICP, University of Rhode Island Coastal Resources Center/RI Sea Grant Paige Bronk, AICP, Director, City of Newport Planning & Development Francis X. Mahady, Principal, FXM Associates

Why RI Sea Grant is involved… “ Honest Broker” / neutral facilitator PUBLIC-PRIVATE PARTNERSHIPS ,[object Object],[object Object],[object Object],[object Object],[object Object]

Why RI Sea Grant is involved… ,[object Object],[object Object],[object Object],[object Object],[object Object],Integrated Coastal Management Process

National Sea Grant (NOAA) Rhode Island Sea Grant

Why RI Sea Grant is involved… FUNDERS PARTNERS

Newport 2030 - Top 3 Priorities 1. Create a continuous harbor walk that links all waterfront parcels and allows public access both laterally and along the shore. 3. Develop mechanisms to encourage consistent coordination & communication among different levels of government, commissions, and officials so that they may identify and work toward common goals for Newport’s waterfront. 2. Honor the working waterfront , maintain its relevance, and preserve its identity.

Public Access ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Why an Economic Study? ,[object Object],[object Object],[object Object]

Scope - Economic Study ,[object Object],[object Object],[object Object]

Economic Study Steering Committee ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],CONSULTANT: FXM Associates Francis X. Mahady, Principal

Newport, RI “City by the Sea”

Newport, RI “City by the Sea” NEWPORT HARBOR

Economic Study: Data ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

RI Statewide Ports & Harbors ,[object Object],[object Object],[object Object],[object Object],Insert map

Commercial Fishing Operations ,[object Object],[object Object],[object Object],[object Object],COMMERCIAL FISHING PIER: State Pier #9 (RIDEM) – 60 full-time commercial fishing vessels, mostly lobster boats In 2006, 48 vessels with federal licenses listed Newport as their home port Fishing-related businesses have left Newport & fishermen must go to Point Judith or New Bedford for supplies Source: Ocean SAMP Fisheries Chapter, to be published August 2010

City Redevelopment Efforts U.S. Navy Hospital Van Zandt Pier Perrotti Park / Long Wharf U.S. Post Office Armory / Ann St. Pier Lee’s Wharf King Park

Harbor Uses & Revenues ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Special Events Newport International Boat Show Brokerage Boat Show / Wooden Boat Show Tall Ships Regattas Sail Newport / 12-Metre / 6-Metre Folk & Jazz Festivals @ Fort Adams Black Ships Festival Seafood/Chowder Festivals & Clambakes Dockwise Transport

Interviews with Waterfront Businesses and Other Key Actors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Interviews – Major Themes ,[object Object],[object Object],[object Object]

Theme 1: Preserve Newport’s Working Waterfront ,[object Object],[object Object],[object Object],[object Object],[object Object]

Theme 2: Maintain diversity of commercial uses and public access to the water ,[object Object],[object Object],[object Object]

Theme 3: Better management of waterfront as economic development asset ,[object Object],[object Object],[object Object]

[object Object],[object Object]

Municipal revenues from property tax and other revenue sources in the Newport Harbor Study area, which totaled over $9.7M in 2009.

Of the $9.7M in City revenues derived from property and other taxes and fees within the Harbor Study Area in 2009, approximately $5.2M (54%) is attributable to water-dependent uses and public access to the water.

Water dependent land uses in the Newport Harbor Study Area are directly and indirectly responsible for considerably higher municipal revenue yields per acre than either general commercial land uses or residential condominiums.

Planning Factors for Per Acre Yield in Total Municipal Revenues by Land Use Type

[object Object],[object Object],Employment Effects

Conclusion - Economic Study ,[object Object]

Next Steps - Economic Study ,[object Object],[object Object],[object Object],[object Object]

Contacts ,[object Object],[object Object],[object Object],seagrant.gso.uri.edu/ai/nh_economicdevelopment.html www.cityofnewport.com/departments/planning-development/home.cfm

Don't Drown on Bad Choices or Numbers: A Rational Economic Model for Newport's Waterfront

Don't Drown on Bad Choices or Numbers: A Rational Economic Model for Newport's Waterfront

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