The East Side Corridor Economic Development Fund is a program that will invest in strategic capital improvements and capacity building for local non-profits. Through in-depth research and an inclusionary stakeholder engagement process, the following portfolio of five projects, led by local non-profits, are included in the East Side Corridor Economic Development Fund:
East Side Main Streets Initiative: Expand the Buffalo Main Streets Initiative to fund building renovations and public space enhancements in four East Side investment areas.
Community-Based Real Estate Development Training Program: Harness the East Side’s human capital and ensure that revitalization is driven by the community through real estate development education.
Building Preservation Fund: Establish a dedicated funding source to support acquisition and stabilization of at-risk historic buildings in the target investment areas.
Michigan Street African American Heritage Corridor: Create a cooperative operating/business model and plan for capital improvements for a unified tourist destination around Michigan Street’s unique assets.
Central Terminal: Plan for the future of the site and create a robust organization to guide capital improvements with the goals to eventually reuse the entire complex and better connect it to the Broadway Fillmore neighborhood.
UB Regional Institute is charged with leading the Project Implementation Team (PIT). The PIT is responsible for assessing organizational capacity; ensuring that the appropriate infrastructure, staff, funding and other supports are in place for delivery of the initiatives; providing strategic planning, program design and problem solving using expertise in research and analysis to guide decision-making and support initiatives during implementation and operation; and tracking, monitoring and reporting on initiatives to measure progress and ensure responsible use of resources.
A Program Director will coordinate these activities for the PIT across all five initiatives in close collaboration with individual non-profits and hired consultants, as well as with the fiscal agent and Advisory Committee who will oversee the Fund. In particular, the Program Director will perform the following duties:
- Work with stakeholders to set objectives, goals and metrics;
- Meet with stakeholders on a regular basis to assess needs and problem-solve to assist them with meeting their goals;
- Participate in processes to procure consultants to be employed as needed to provide specific technical expertise. This includes consultants needed for business planning, neighborhood planning and capital investment planning;
- Manage an ongoing performance reporting approach that will help ensure initiative efficacy, impact and responsible use of resources;
- Measure progress and work closely with stakeholders to recommend changes as necessary;
- Work with stakeholders to ensure that sufficient funding is in place;
- Coordinate the efforts of UBRI team members in support of program activities;
- Report objective information, program progress, and advice in the form of presentations and report materials;
- Explore ways to create innovative financing mechanisms as needed;
- Facilitate collaboration, peer learning, collective problem solving and progress, and ongoing community building strategies;
- Research national models that are grounded and successful and align with the program;
- Contribute to annual reports that highlight impacts based on experiences throughout the year;
- Assist with monitoring of capital improvements and ensure stakeholders are gaining the capacity to properly manage major capital investments.