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Revolving Funds for Community Reinvestment
Date: Wednesday, May 15, 2024
Time: 11:30 am - 1:00 pm
Location: Virtual (Zoom)
Cost: Free, but registration is required.
Downtowns and Main Streets in America are struggling to recover. Some were hit hard from the pandemic while others have experienced disinvestment for years. Revolving redevelopment funds are growing in prominence to help communities overcome the challenges of financial risk and attract reinvestment. Where traditional lending tools are not well suited, revolving development funds can play a pivotal role in tackling difficult sites and reducing the use of tax incentives.
Panelists:
Jon Ferry
Jon was named 2019 Young Economic Development Professional of the Year by the International Economic Development Council and as one of the 40 Rising Stars Under 40 in the global economic development profession in 2017.
He worked for the St. Louis Development Corp. for 7 years where he developed a new incentive evaluation model that has been utilized to evaluate over $7 billion in projects in the City and was key to the negotiation and reduction of incentive outlays by more than $75 million dollars. In May 2017, Jon presented this model at the American Planning Association's National Conference in New York City. He also served as Project Manager and co-author for the City's Equitable Economic Development Strategy.
Jon has founded two companies, Model City Solutions and Chess Tales. Model City is developing software to guide investment and incentive use decisions for municipalities, developers, financial institutions and state agencies, and Chess Tales is an Ed Tech company creating children's media that teaches kids executive function skills through the combination of chess and stories about the game as experienced by the pieces on the board. He also serves as Senior Associate for Real Estate at Washington University.
Sara Bedinghaus
Sara Bedinghaus, Development Manager at 3CDC. Oversees development of high-profile, mixed-use historic preservation projects in Cincinnati’s Over-the-Rhine neighborhood and Central Business District. Ms. Bedinghaus’s projects have resulted in the construction or preservation of 80 buildings, creating more than 260 new housing units and 120,000 SF of commercial space using New Markets Tax Credits, Historic Tax Credits, and a mix of public and private financing.
Education and Prior experience: Master of Urban and Regional Planning (MURP), Portland State University; BA Political Science, University of Cincinnati. Prior to 3CDC Sara worked on the City of Portland's Economic Development Strategy for Portland Development Commission and as a Marketing Specialist for Procter & Gamble.
Courtney Pogue
Courtney D. Pogue, CCIM, CEcD, CRE, is the Senior Director of the Supporting Empowered Emerging Developers (SEED) Academy for the Grow America formerly known as the National Development Council (NDC). Before joining Grow America, Courtney was the Director of Economic and Community Development for Metropolitan Nashville and Davidson County, Tennessee, where he managed issues related to affordable housing, workforce development, and small business and entrepreneurship. Before Nashville, Mr. Pogue was the Director of Economic Development for the City of Dallas, Texas. As the Director of Economic Development in Dallas, Mr. Pogue managed a department that fostered more than$2.8 billion in private investment and 15,000+ job commitments. Additionally, Mr. Pogue manages the following programs for the City of Dallas: tax increment financing, new markets tax credits, Section 380 economic development, tax abatement, and small business development. Additionally, Mr. Pogue oversaw 35 employees and an operational budget of $9million. Before joining the City of Dallas, Courtney was Clayton County, Georgia's Director of Economic Development. As the Director of Clayton County, GA, Mr. Pogue implemented Clayton County’s (population of 300K; home to the world’s busiest airport) 2013Economic Development Plan, resulting in the improvement of the County’s overall economic vitality: higher per capita income, reduced unemployment, expansion of the labor force and increased household income. He assessed the viability of potential transactions based on financial feasibility and economic impact modeling.
Before joining Clayton County, Mr. Pogue served as the Deputy Director of Economic Development for Cook County, the 2nd largest county in the country, where he managed various economic development initiatives and programs. Courtney’s role with Cook County includes managing the $30 million BUILT in Cook Loan Program and reviewing all commercial property tax incentives administered by the County. During his time at Cook County, Mr. Pogue and his team fostered more than $400MM in private investment, which supported more than 5,000 job commitments.
Before joining Cook County, Courtney was the founder and president of the Waterworks Group, an economic development and real estate advisory services firm based in Chicago, IL, focused on urban real estate development. Since 2003, Mr. Pogue has worked on more than $500 million in commercial and residential development projects. Overall. Pogue has successfully assisted clients in obtaining more than $150 million in public subsidies, which have included Low-Income Housing Tax Credits (LIHTC), Tax Increment Financing (TIF), and New Markets Tax Credits (NMTC) along with other public financing sources and incentives. Before forming his company, Mr. Pogue worked at the First National Bank of Chicago, the City of Chicago, the Department of Planning and Development, and Cohen Financial.
Courtney is a licensed managing real estate broker in the state of Illinois, a Certified Commercial Investment Member (CCIM), a Leadership in Energy and Environmental Design Accredited Professional (LEED AP), and acetified Property Manager (CPM). He is affiliated with the Urban Land Institute (ULI), the International Council of Shopping Centers (ICSC), the Commercial Institute of Real Estate Investment (CCIM), the International Economic Development Council (IEDC), the Institute of Real Estate Management (IREM), and Lambda Alpha International, Ely Chapter.
Courtney was awarded a Counselor of Real Estate (CRE) designation by the Counselors of Real Estate (CRE) in 2020 and is a Certified Economic Developer (CEcD) by the IEDC. Additionally, he holds the EDFP and HDFP designations from the National Development Council (NDC). Mr. Pogue also holds an MBA from the University of Notre Dame and a BBA in Finance from Howard University.
Ned Staebler
Ned Staebler serves as Vice President for Economic Development at Wayne State University and as President and CEO of TechTown, Detroit’s most established business incubator and accelerator. He leads both organizations’ efforts to strengthen the Detroit region’s neighborhoods, businesses, and leaders, overseeing a range of activities around innovation and entrepreneurship, business development and attraction, talent retention, transit and mobility, and placemaking.
Mr. Staebler previously served as the Vice President for Entrepreneurial and Capital Services at the Michigan Economic Development Corporation. In this role, he was responsible for the oversight of the Michigan Strategic Fund Board and the 21st Century Jobs Fund, a $2 billion, 10-yearinitiative to transform Michigan's economy. As part of these efforts, Staebler led the investment and management of $600 million of state funds into entrepreneurial companies, venture capital and private equity funds, and strategic service providers.
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