Technical Support

Broadway Hometown Partnership assists businesses in improving the value of downtown real estate; identifying opportunities in local market conditions for growth; helping existing businesses expand their customer base; recruiting new businesses to complement the existing commercial mix; finding uses for underused or vacant properties; and providing incentive programs for façade improvements or additional capital. Listed be Existing Structure Rent & Purchase Analysis—Broadway Hometown Partnership has dedicated efforts to determining current rental and purchase levels per square foot. This information allows Broadway Hometown Partnership to advise property owners as to what rental or purchase price will allow for the most rapid occupation of their structure. This provides a fair price for potential buyers/renters and lessens loss of profits by filling vacant buildings.low you will find upcoming projects in 2004.

2004 Projects

Cooperative Advertising Program: In an effort to save Broadway businesses money BHP created the cooperative advertising program. The program essentially works on the principle of bulk purchasing. Whereby in this case, advertising would be purchased through BHP, lowering the rate for all businesses included. The following will be required for the program to run correctly: I. Broadway Hometown Partnership will need to dedicate a significant portion of time to marketing the program itself. The more businesses involved the greater the savings for all businesses. II. A billing system will need to be further established. As all billing must be handled by BHP for savings to take effect and efficient billing system is necessary. III. The program will be limited to the North Fork Journal on a trial basis and will be terminated if sufficient interest is not garnered.

Updated Market Study: Broadway Hometown Partnership will continue market analysis studies conducted in past years to determine what businesses have the greatest opportunity for success in the Town of Broadway. This will allow BHP to recruit businesses that have a lower probability of failure, thereby increasing consumer draw, enhancing the image of the Town and sustaining employment opportunities.

1. BHP must have a current market analysis specific to Broadway that is complete. The market study should have categories covering housing, demographic profile, retail sales gap analysis, customer/business survey, etc.
2. Have a long range implementation plan based on the findings of the market study. The long-range plan should be reevaluated periodically.
3. Document utilization of the study and successes accomplished; Develop and implement a strategy or method to share the study with the public.

Revolving Loan Partnership: For the purpose of creating an atmosphere conducive to the adoption of a general maintenance ordinance, Broadway Hometown Partnership will be required to dedicate efforts to establishing a low interest revolving loan program.

1. The program must be created with the intention of making it suitable for the type of improvements that are desired.
2. Broadway Hometown Partnership must determine how the loan pool will be capitalized. (Local Banks, Grants)
3. BHP must require that design review be attached to any loan applied for to ensure quality improvements keeping with the character of the Town.
4. Broadway Hometown Partnership must dedicate efforts to marketing this program to the business community.

Property Database: To be certain that land development continues at a pace that is healthy it is necessary that Broadway Hometown Partnership have complete information readily available to potential investors. This task shall be accomplished by:

1. Collecting information on all property in an area designated by the Design committee as the “primary business district.”
2. Compiling the property data with its location on a map, picture of the property, zoning information, and potential land uses.
3. Property available for sale or rent shall be included on the BHP web site for viewing by potential investors. The Design committee for purposes of improving design shall keep all other property in a database not for public view so as to protect the privacy of property owners.