The Town of Chapel Hill engaged Strategy 5 as part of a team led by Kling Stubbins Planning and Design to create an economic development / growth strategy for downtown. The project was termed the Downtown Framework and Action Plan. The Action Plan included the creation of new street connections, utilization of tax increment financing for the first time, new multi-use parking garages, public spaces and infill commercial projects.
The entire Framework was created in concert with Strategy 5’s economic and fiscal impact analysis, market analysis, financial feasibility analysis, TIF projections and other analytical tasks. Much of the Action Plan has now been completed and Chapel Hill’s Economic Development Department remains one of the country’s most successful organizations of its type.
The Town of Chapel Hill Downtown Framework and Action Plan incorporated the economic analysis led by Strategy 5 and called for the first-time use of tax increment financing (TIF) among other innovations.