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Make It Happen <br />Produce markets, often sponsored by BIDs, <br />add a lifestyle -oriented dimension to neigh- <br />borhood shopping streets, <br />Neighborhood retailing will not spontaneously regenerate. Miracles happen <br />in the movies, but they rarely happen in real Life. In many communities, <br />market conditions that caused neighborhood commercial streets to decline are <br />still in place, and it takes an aggressive commitment by the public sector in <br />partnership with the private stakeholders to address negative influences before <br />sustainable retail revitalization will occur. <br />Communities have powerful financial and regulatory tools to attract desired pri- <br />vate investment capital if used judiciously. Some of these took are "carrots" <br />that create a positive investment climate, improve infrastructure, or reward <br />investors who further community goals. Others are "sticks," which may need to <br />be used if carrots are not sufficiently convincing. Communities should be willing <br />to use both to convince landowners, developers, and retailers that the revitaliza- <br />tion efforts are in their interests. Willingness to exercise regulatory powers to <br />achieve the stakeholders' vision and protect it from negative influences projects <br />a sense of momentum to the stakeholders and potential tenants and enhances <br />the street's appeal as a place to do business. <br />Research carefully what public regu- <br />latory and financial took are available <br />to achieve your goals and what is <br />required to qualify for them, then <br />determine how you can use them as <br />catalysts to make things happen when <br />and where you want them to happen. <br />Direct public resources to generate the <br />maximum bang for the buck in terms of <br />generating and leveraging private <br />investment money. <br />Develop a strong relationship with <br />local financial institutions and non- <br />profit organizations, and partner with <br />them to achieve your goals. These <br />organizations are likely to be more <br />willing than national institutions to <br />Lend money to developers of nontraditional urban real estate projects and to <br />neighborhood retailers. They are also Likely to be more flexible in terms of what <br />you can do with the money. <br />16 <br />