Focus on Owners with a Medium Term Horizon

Community organizations will encounter a wide range of property owners during place-based community planning and outreach: owner-operators, lessees, absentee owners, speculators, realty companies, and others. It is important to reach out to all types of owners and encourage their participation in the planning process; however, CBOs should identify and target those owners who are willing to actively consider development of their properties.

Whether a CBO seeks to develop an area-wide plan or participate directly in its development, a community organization should target business and property owners that are motivated to create value in their property in the medium term (2-5 years). This timeframe aligns with the period that the CBO requires to achieve its strategic community development goals. CBOs should also target property owners who are planning to retire.

CBOs should not target the following property owners. Owners interested in pursuing development in the short term (less than 1 year) have settled on a development plan and are focused on its implementation. Buyers interested in earning a quick profit on the purchase and sale of land are poor prospects because they are typically unwilling to assume any risk associated with development. And owners with a long term (8 or more years) development horizon are also a poor prospect for a partnership with a CBO because they are content to carry low-income generating properties for an indefinite period.

Owners with a medium term horizon are likely to be open to partnering with a CBO, and that willingness is a critical factor in whether plans for a strategic development site reach implementation.

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