Economic Development Growth Monitor Archives

Mixed-Use Redevelopment Entitlement and Permits

The EB-5 Program is Reauthorized

President Biden signed legislation today with the effect that the EB-5 program is reauthorized, in particular its Regional Center component, effective now through September 30, 2027. The program is part of the EB-5 Reform and Integrity Act of 2022 (the “Act”), which itself is part of the Omnibus spending bill signed by the President.

The reauthorization of the Regional Center program follows an almost 9 month lapse, when prior efforts failed to extend the program beyond July 1, 2021. The Regional Centers aspect of EB-5 have allowed foreign investors a special opportunity to invest in high-profile developments that they likely would not otherwise find accessible. The EB-5 program had its controversies and numerous parties had worked to place safeguards to prevent fraud and encourage investment in areas that followed from the original intent of the program.

The EB-5 program allows foreign investors to invest a specified amount of capital into a U.S. enterprise that creates American jobs, in return for permanent residency. With passage of the EB-5 Reform and Integrity Act of 2022, changes were made to the program to presumably improve its implementation. The new legislation emphasizes compliance with EB-5’s intent along with enforcement procedures. Program sponsors under EB-5 will face greater scrutiny in recordkeeping, investment types, audits, and investor communications. The minimum EB-5 investment amount now increases to $800,000 from the current $500,000 for Targeted Employment Areas and Rural Areas, and, changes to $1.05 million from the current $1.0 million for Non-Targeted Employment Areas. These changed minimum investments apply to both regional center and direct EB-5 investments.

With the news that the EB-5 Program is reauthorized, a backload of foreign investors who were in the midst of processing last June, will hopefully soon see progress in the processing of their investment / visa applications.

The EB-5 Immigrant Investor Visa Program was created in 1990 by the Immigration Act of 1990.

Rep. Haaland Nominated to Lead Interior Dept.

Rep. Haaland Nominated for Interior Department

17.12.2020 Economic Development Growth Monitor, News about economic development, News about film studios and backlots, News about local government real estate, News about outdoor recreation venues, News about tribal and first nation matters, StoneCreek Partners News and Research

Rep. Haaland is nominated to lead the Interior Department. With Senate confirmation, Rep. Haaland will become the first Native American to serve as Cabinet secretary.

President-elect Joe Biden nominated Rep. Debra Haaland to helm the U.S. Department of the Interior, a federal agency forever linked with the history of Native Americans since the nation’s founding. The Albuquerque Journal has reported that Haaland’s nomination reflects Biden’s commitment to address the historical mistreatment of Native Americans including violations of treaty obligations.

The Interior Department administers roughly 500 million acres of public lands and plays a key policy role on tribal issues. In her role, Rep. Debra Haaland’s Interior Department will oversee two key tribal offices – the Bureau of Indian Affairs (“BIA”) and the Bureau of Indian Education. The U.S. Interior Department was first established in 1849, actually established after the BIA was first established in 1824 – the oldest agency within the Department of the Interior.

Rep. Haaland is a Laguna Pueblo member and is well-known for her leadership roles in tribal government, administration, and economic development programs and enterprises. Laguna Pueblo is a federally-recognized tribe of Native American Pueblo people situated to the west of metro Albuquerque, New Mexico. The Laguna Pueblo tribal reservation includes approximately 500,000 acres of land situated in Cibola, Valencia, Bernalillo and Sandoval counties.

A full article regarding U.S. Rep. Haaland being nominated to lead the Interior Department, is available at the Albuquerque Journal: Haaland gets historic Cabinet nomination

Rep. Haaland is Nominated to Lead the Interior Department

The U.S. Interior Department administers roughly 500 million acres of public lands, involving a myriad of environmental, energy, and public access issues and concerns.

Economic Development Consultants for Tribes

22.11.2020 Economic Development Growth Monitor, News about economic development, News about global real estate consulting, News about local government real estate, Project Consultants for Tribes and First, StoneCreek Partners News and Research

Our work as economic development consultants for tribes and other indigenous nations has expanded with additional services and new regions covered.

StoneCreek Partners’ client work with Native American tribes and pueblos, as well as Native Hawaiians, now includes Canadian First Nation tribes and organizations. Over the years, StoneCreek Partners has also worked with indigenous nations in addition to those in North America, including those sovereign nations in the MENA region and the Pacific Rim.

The Covid-19 pandemic of 2020 has increased the interest in economic development plans that can reliably produce economic results – increased jobs, new investment, and enhanced quality of life. And sooner than later. Our economic sector analytics have an increasingly granular focus on real estate investment asset classes. This is due to some types of investment now being in question, and relatively new asset classes commanding investor attention.

Our consulting focus is on projects that can be made to happen, and less on broad programmatic objectives.

Another focus is on the feasibility of specific projects. As we act as economic development consultants for tribes we explore how development might occur in a particular region, focusing more on projects that can be made to happen, and less on broad programmatic objectives. With specific projects identified, strategic partners can be identified and pursued.

Today’s economic development strategies can include all manner of visitor destination strategies, location-based entertainment, sports mega-complexes, life sciences projects, and other development can prosper within specific locations and markets. Our experience with design management, development, facilities management, and with overall dealmaking and transactions allows us to take economic strategies through implementation.

What is a charrette? Charrettes explained StoneCreek Partners is a business planning and development firm, with expertise that includes commercial real estate, hospitality, location-based entertainment, and direct-to-consumer technologies. StoneCreek Partners has provided economic development planning and program implementation support to Native American tribes and their sovereign development companies, as well as to similar city, county, and state organizations.

Our firm’s essential value to clients is our hands-on experience in designing, developing, and operating projects and businesses. StoneCreek Partners is led by co-founder Donald Bredberg and his substantial experience as an executive with The Irvine Company, NBCUniversal, and the Riyadh-based family office of Newfield Enterprises International.

The firm was first established in 1984 in Los Angeles, and is now headquartered in Nevada. Our economic development consulting for tribal nations and other indigenous nations got started shortly after the firm’s founding.

Additional information about our economic development consulting practice is available at this link:

StoneCreek Partners – Economic Development Consultants

29.10.2020 Economic Development Growth Monitor, News about economic development, News about hotels and destination resorts, News about local government real estate, StoneCreek Partners News and Research

— The Value of Regional Visitor Destinations – for Local Economic Development

Conservation Act Passes Congress, Now Heads to President’s Desk

01.10.2020 Economic Development Growth Monitor, News about outdoor recreation venues

SCP’s The Growth Monitor

In a bi-partisan vote, a next conservation act has passed the U.S. Senate. The unanimous vote in the Senate pertains to America’s Conservation Enhancement Act, S. 3051 (the “ACE Act”), a package of natural resource management and conservation provisions. The House of Representatives is expected to take up the legislation, and vote, as early as next week.

SCP Growth Monitor update on October 1 – the House of Representatives has approved the ACE Act by voice vote; now the legislation goes to the President’s desk for signing.

Consideration of the Ace Act follows passage in August 2020 of the Great American Outdoors Act, widely considered one of the landmark legislative achievements to protect America’s natural environment.

The legislation authorizes the National Fish Habitat Partnership, an endeavor that brings together local, state and federal partners to coordinate and conduct on-the-ground aquatic habitat restoration projects for the benefit of recreational fishing. The ACE Act also reauthorizes and boosts funding for programs critical to the health of the Chesapeake Bay, the nation’s largest estuary and a critical nursery for sport fish throughout the Atlantic region.

As the bi-partisan Conservation Act passes Senate consideration, attention now focuses on regional benefit. The ACE Act is expected to be a strong boost to recreational economic development in the region. The Chesapeake Bay is the largest estuary in the U.S., and is also a critical sportfish nursery for the greater Atlantic region.