Wright-Dunbar Business District Capital Improvements ..

1. To which Review Panel are you submitting this project?
Economic Development
2. What is the title of this project?
Wright-Dunbar Business District Capital Improvements ..
3. Please provide a short, non-technical description of the project, no more than 2-4 sentences.
Wright-Dunbar Inc. is a small 501 c 3 organization dedicated to the revitalization of the historic West Third Street Corridor. Tremendous strides have been made to transform Dayton’s West Third corridor from an area of severe disinvestment to the safe, bustling area of today where diverse families, businesses, neighbors and visitors live, work, play, and learn together. We seek capital support to complete the build out of five historic buildings for mixed use development such as retail, commercial and housing.
Requester and Recipient
4. Name of organization making this request
Wright-Dunbar Inc.
5. Address
1105 West Third Street
6. City
Dayton
7. State
Ohio
8. Zip Code
45402
9. County
Montgomery
13. State
Alabama
15. County
Auglaize
16. Which category best describes the type of organization that is the recipient for project funding?
Non-profit
Contact Information
17. Name
Erica Hubler
18. Title
Property Manager
19. Organization
Wright-Dunbar Inc.
20. Address
1105 West Third Street
21. City
Dayton
22. State
Ohio
23. Zip Code
45402
24. County
Montgomery
25. Phone
(937) 443-0249
26. Email
erica.hubler@wright-dunbar.org
27. Are there other individuals who should receive notices or information related to this project during the review process? If so, please provide name(s), title(s), and email(s). If not, leave blank.
Harry Siefert, President, Wright-Dunbar Inc.
Email: HARRYSI@aol.com
Project Information
28. City
Dayton
29. County
Montgomery
30. Congressional district
Ohio 10th
Funding Request and Budget Information
31. What is the dollar amount of funding you are seeking in the next year?
$2,000,000.00
32. What is the total project cost?
$7,000,000.00
33. Please list sources, amounts, and status of other funds that this project has previously received or is likely to receive in the future.
Historic Tax Credits - $2,800,000
Ohio Finance Fund - $300,000
Bank Financing - $1,000,000
Private Philanthropy - $900,000
34. How will the requested funds be used? Please check the category that best fits the project. Then, if you have additional information to provide regarding the use of funds, please provide this information with your supporting documentation (see question #52). EX: if this is for construction, please provide information on the proposed building, its purpose, size and location. If this is for operations, please describe if the money will be used for salaries, rent, equipment, services, etc. The more detail provided, the better the committee can understand the value of your project. This is particularly important for projects seeking operations funding.
Construction or Capital
35. Do you have matching funds raised or committed?
yes
36. If yes, please provide additional information.
Wright-Dunbar Inc. owns the buildings with no debt attached. The building equity can be leveraged to match funds.
37. Do you have a budget with funding details for the project? If so, please send the budget as an attachment under question 52.
No
38. By what date will you be ready to spend the funds?
Immediately
39. Are there particular state or federal programs or private grants under which this project would qualify for funding? Please be as specific as possible.
State Capital Funds
Community Impact and Job Creation
40. What is the community issue or need that your project will address?
WDI the owner of 11 buildings totaling 160,000 square feet, has invested over $6 million in the acquisition, stabilization, and renovation of properties along the historic W. Third St. corridor. WDI seeks to build on the legacy of creativity, collaboration, and invocation by its earliest residents, the Wright Brothers and Paul Laurence Dunbar.

Tremendous strides have been made to transform Dayton’s West Third corridor from an area of severe disinvestment to the safe, bustling area of today where diverse families, businesses, neighbors and visitors live, work, play, and learn together. Today, many businesses thrive in renovated historic buildings. More than $80M has been invested in the Wright-Dunbar neighborhood over the last 20 years. One of the goals of the investment and revitalization has been to elevate Wright-Dunbar as a gateway and positive force for further future investment in West Dayton.
41. What is the measurement that will be used to determine whether the project was a success?
The project will be successful if five historic buildings are renovated and six new businesses locate in the Wright-Dunbar Historic District.
42. If the project receives funding and is completed, how many DIRECT NEW jobs do you anticipate being CREATED within the next two years?
51-100
43. Please explain how you determined the job creation listed in question 42. One way to support estimated job numbers is to provide examples of similar projects that have created jobs. If you are aware of similar projects, please include details and explain how they relate to your project. This field is limited to 1,000 characters. If you need additional space, please include your information in an attachment, not to exceed 10 pages, which can be uploaded by clicking “yes” on question #52.
We determined these numbers based on the experience of current businesses/employers in our District. Most of these business currently have between 5-10 employees with plans to double these numbers over the new year. Obviously use of the space will determine the actual number of employees. Our estimate is modest based on the current tenant mix, however we are in conversation with larger employers as well.
44. If the project receives funding and is completed, how many DIRECT EXISTING jobs do you anticipate being RETAINED within the next two years?
51-100
45. Please explain how you determined the job creation listed in question 44. One way to support estimated job numbers is to provide examples of similar projects that have created jobs. If you are aware of similar projects, please include details and explain how they relate to your project. This field is limited to 1,000 characters. If you need additional space, please include your information in an attachment, not to exceed 10 pages, which can be uploaded by clicking “yes” on question #52.
We identified existing, thriving businesses and added up the number of current employees. Our number does not include close by larger employers such as: Edison Elementary School. WSU Ellis Center, Lamar Advertising, Mound Academy, Miami Valley Child Development Center, Miami Valley Urban League and Central State West, all located less than 1/2 miles from the historic West Third Street Corridor.
46. Using your best guess, over the next 10 years, how many sustained, permanent jobs will the project create and retain if funded and completed? This may include “induced” or “spin-off” jobs.
251-500
47. Please explain how you determined the job creation listed in question 46. One way to support estimated job numbers is to provide examples of similar projects that have created jobs. If you are aware of similar projects, please include details and explain how they relate to your project. This field is limited to 1,000 characters. If you need additional space, please include your information in an attachment, not to exceed 10 pages, which can be uploaded by clicking “yes” on question #52.
We are basing this estimate on current employment levels of nearby large employers and those currently located in the business district. We have also experienced a demand and interest in the greater Wright-Dunbar neighborhood and our buildings.
Community Impact and Job Creation Cont.
48. Using your best guess, of the jobs created over the next 10 years, what will the average salary be?
$25,001–$50,000
49. Please explain how you determined the salary amount listed in question 48. This field is limited to 1,000 characters. If you need additional space, please include your information in an attachment, not to exceed 10 pages, which can be uploaded by clicking “yes” on question #52.
We determined this number based on current jobs available in the district.
50. In which of the following counties do you estimate a substantial number of jobs will be created if the project is funded and completed?
  • Montgomery
51. Are you aware of any opposition to the project? If “yes,” please explain.
No.
52. Do you have letters of endorsement or other supporting documents for the project? If “yes,” you may attach one PDF file that contains UP TO TEN PAGES of your supporting documents. This document will be posted online along with your completed questionnaire during the public review period. Please DO NOT exceed 10 pages and do not send separate attachments to the Dayton Development Coalition staff. Project sponsors who exceed 10 pages of supporting documents may be asked to re-submit their project.
Yes
Attach endorsement or other supporting documents for the project
Additional Information
Feel free to attach additional documents that relate to your project here.
Verify and Finalize your Submission
Confirmation
  • I have reviewed my submission and to the best of my knowledge all of the information entered accurately represent our organization and our project