MAYORS INSTITUTESeptember, 18, 2013

DESTINATIONWHITING, INDIANA

• Striving for Diversified AV Growth

• Enhance “Business Corridors”

• Improve “Housing Inventory”• There are different ways to

do it• Whiting is betting it’s

through tourism related development

OUR STRATEGY

• Luck played a bigger part in our story than talent did

• Probably no surprise to you!

DISCLAIMER

• To give you a perspective of Whiting’s geography, here’s an aerial view of the city

LAY OF THE LAND

WHY TOURISM?• Whiting’s 4 Top Assets are:

bp

• All 4 Assets support the theme• BP - Engaged Partner - Tax $$ -

Tourism Asset (think Hershey, PA)

• Main St. – Supports the visitors

• Pierogi Fest – 300K visitors• Proximity to Chicago =• 9.5 million people

WHY TOURISM?

• We knew we needed a catalyst• Lakefront Development was

the obvious place to start• With the help of American

Structurepoint, we created a plan

• Implementation of the Plan was estimated to cost $50M

HOW DID WE START?

• We then shopped the plan to anyone who would listen

• It all came down to finding someone crazy enough to publicly beg for $30M

HOW DID WE START?

LOOK NO FURTHER

• $50M Lakefront Development• $20M RDA Grant• $20M TIF Bonds (single

taxpayer)• $6M Federal Grants• $3M BP Contribution• $1M Pocket Change

SECURED FUNDING

WHAT’S BEEN COMPLETED?

WHAT’S IN PROCESS NOW?

WHAT’S on DECK?• BP’s $4 billion modernization

project will hit the tax roles in 2014

• Will allow me to:• Issue a new bond for $$$• Retire the $20M Lakefront

bond

LF - STADIUM DISTRICT• $20M Lakefront Hotel• Lakefront Restaurant• 150,000 sf mixed-use

development• 3 in 1 Museum• Senior Apartments• Residential Condos – Single

Family• We’re far from done …. 3

years?

• BP plans to build a new “ginormous” Office Campus

• $$$• Adjacent to Oil City Stadium• All in our TIF• Primary driver for location

selection was our Lakefront Plan

ICING ON THE CAKE

• Analyze your strengths – Assets

• You must have a “Plan” & “Vision”• No one will take you

seriously• You don’t have to reinvent

wheel• Shamelessly promote your City

until you run out of liquor, then start again

TIPs

• Start small• We started with acquisitions

• Recruit a corporate partner(s)• Hire a grant writer• UTILIZE TIF• Be “Relentlessly Persistent”• Took me 7 years

TIPs

• If Whiting can get this far with me steering the ship, sky’s the limit for you guys!

ENCOURAGEMENT