Additional Factors in Project Feasibility

Companies, especially those in real estate development, have developed comprehensive due diligence/feasibility processes to determine if a project is a go or no-go.

But even the best due diligence/feasibility processes we’ve seen lack an understanding of the ‘political’ elements impacting a project, which often results in one of two scenarios:

1. The company passes on a project in response to a perceived regulatory roadblock, which if investigated further might be easily navigated, or

2. The company proceeds with a project only to run into an ‘unexpected’ political change that threatens the entitlements they seek (e.g. moratoriums, more stringent regulations, emergency ordinances, etc.).

We’ve got solutions and here’s how we help:

  • Political & Regulatory Risk Assessments – We specialize in understanding local and state regulatory systems and we excel at researching local regulatory trends, past project results, changing political winds (example: is the no-growth neighborhood group running candidates to flip the local council/board?).  We can help your company assess the political and regulatory risks prior to your investment.
  • Reverse Engineering of Regulatory Roadblocks – Have you ever passed on a project because you ran into a single regulatory limitation that didn’t fit the project (e.g. allowed % of lot coverage was too low for your home designs)? We help companies assess regulatory roadblocks and design strategies that can change the red flag your seeing into a green light.
  • Maximizing the Project’s Value – What if you could get a little more density?  Shorten your approval by a few weeks?  Or reduce some of your project’s conditions?  We can help with that.  We understand the politics of negotiation, as well as the opportunities to speed up local regulatory processes, and we can assist you in maximizing your next project’s value.
  • Proactive Project Mine-Clearing – Developing relationships, seeking code interpretations, securing code amendments – are all efforts we can manage on your behalf prior to your next project moving forward.
  • Community Outreach – There’s nothing worse than thinking everything is going great only to go to hearing and have dozens of neighbors show up in opposition.  We are experienced at communicating with neighborhoods and adjacent landowners, and we can help your company manage long-term project risk by utilizing the opportunity to address concerns early in the process.

Want to learn more about how we can help your projects?  Contact us.

USPTO Approves MicGrowPolitan® Trademark

A couple of weeks ago we received some exciting news.  The United States Patent and Trademark Office has official approved and registered our trademark for MicGrowPolitan® – a brand of economic development services created and tailored to the needs of the nation’s 551 official Micropolitan Statistical Areas.  Learn more

Knowing & Doing Aren’t the Same

For the last two decades I’ve worked around the country with companies, organizations and communities, seeing all forms of strategic planning in many phases of its development and implementation.  I’ve also seen strategic plans get more and more complex and take longer and longer to create.

The length and complexity of these plans stems from a desire to want more information to guide strategic decisions as well as to want to analyze information better and more thoroughly than your competition (a subjective assumption).

Yet as more information is available and analyzed, far too many of these strategic plans appear (and are) lifeless, impractical and wasted.  But why?

Knowing & Doing Aren’t the Same

As a dad of three I’m often reminding my kids to do things, which means I can’t tell you how many times I’ve heard, “I know” to which I’ve quipped “Knowing and doing are two different things.”

Before I even finish there is a part of me that winces at having said such a ‘dad-like-thing’ but the truth is my response is less a reflection of being a dad and more a reflection of being a consultant in today’s world.  Like my kids, most people fundamentally know what to do, but they are often distracted from taking action either by the immediacy of something else that’s grabbed their attention or they are waiting for more information.

Albert Einstein is attributed to having said, “Information is not knowledge.”

And this problem is only getting worse as the daily bombardment of information through every device and from every screen raises our expectation that a little more information won’t hurt and will actually make it easier to take action.  It’s an assumption that the next piece of information may be so much better than what we have, we must wait.

Thus this access to so much information that is so frequently refreshing (updating, revising) is now treated as a source of knowledge, creating an illusion that with knowledge of the next piece of information we can somehow take more decisive and successful action.

Knowledge is More than Information

Unfortunately knowledge is more than mere abundance and availability of information.  Knowledge involves experience (good and bad), ranking (how we measure and weigh information), instincts/intuition, imagination and other processes that are functions of taking action (a/k/a doing).  Thus, the result of seeking more and more information because it is (or may be) available too often leads to the same problem of inaction that plagues my kids – distraction and postponement.

This is not to say that data and information can’t be valuable to a decision, but the expectation that more data and information will always lead to an even better decision has a limit.

3 Tips for Action

Here are three tips to encourage action:

  1. Do limit the analysis of data and information to that which is most relevant to your goals and objectives.  Don’t rely on data that is too historic or unverifiable.
  2. Create a plan that guides your strategic decisions and actions for the next 3-5 years.  Don’t create a plan for purposes of creating a plan.
  3. Assume that your plan will need to be adjusted as new information is available or markets change.  Don’t fall into the trap of creating an entirely new plan every time something changes.

 

What Do You See?

Looking at this picture, what do you see?

You may see a typical suburb.  Or a small town in flyover country.  Both answers would be correct!

However, when we look at the picture we see:

  1. The commuting patterns that are impacted by zoning decisions
  2. The small business that is trying to get a building permit to expand
  3. The school board that is wrestling with rising student populations and the need to adjust enrollment boundaries
  4. The developer that’s facing an angry neighborhood because her project is locating where the city’s decades old comprehensive plan says it should be built
  5. The need for a balance between housing and jobs, as well as housing diversity and affordability
  6. A city that is struggling with the cost of services and the need to grow and diversify it’s economy
  7. The importance of primary sector jobs, as well as sales tax generating commercial/retail business

Why do we see all that?

We’re experts at understanding the importance of economic development and the complexity of land use.

That’s why we’re able to help the public and private sectors solve their challenges and capitalize on their opportunities.

Learn more 

Spencer Project Complete

On Monday (Jan 7, 2019) we presented the Spencer City Council (Spencer, Iowa) with a final draft of their Economic Development Strategic Work Plan.  The plan, developed in conjunction with the city’s Grow Spencer Commission, covers a range of economic development initiatives for the next five years.  Check out the plan.

In accepting the final plan, the Spencer City Council unanimously approved a resolution to implement the plan.

News Coverage:
Council Approves Grow Spencer ED Plan (KCID-FM)