Mr. James Garner

1
Mr. James Garner

• The 61st President of US Conference of Mayors
  Association
• Mayor of Hempstead, New York
• (1989-2005) 16 years
• Delegate to the world summit on sustainable
  development
• Johannasburg (South Africa,2002)

2
The role of U.S. Mayors in raising public and
private capital to improve the economic
development of U.S. cities
3
Overview

• In the US, Mayors are CEOs of their respective
  cities, and each city has its own autonomy
  separate and apart from each state.
• Each city is responsible for raising its own
  public and private capital.

4
Raise Public Capital

• Public capital can be raised in several ways
  through the budgeting process that allow a city
  the ability to allocate funds to special projects.

5
The Transportation Infrastructure of the City

• New Lite rail-train station for commuters was
  built (federal state government support
  totaling 22 million)
• New Bus Station was built for commuters (federal
  support for total 8 million)
• New roadways
• New Streets

6
Water and Sewage System Infrastructure

• Water authority to manage and govern water
  fees and revenues

7
Community Development and Block Grants

• Progress at a moderate yet efficient pace in
  accordance with the communitys needs and without
  unnecessary or excessive spending
• Revitalize run-down neighborhoods and older
  living facilities
• Ensure that all projects are in agreement with
  the communitys proper zoning laws

8
Municipal Bonds

• An additional and alternative source of low-cost
  capital
• Offered by a city or town
• Provide a low-cost method of borrowing funds
• Often support government projects that affect and
  improve the lives of citizens on a daily

9
Private Capital

• One of the most critical factors in developing
  local communities
• A city must realize that public private
  partnerships are a necessary to overall
  revitalization of the community

10
A strong part of making public private
partnerships work

• Offer tax incentives to developers and
  investors

11
Tax Incentives

• Attracts a corporation and its tax revenues
• Raises employment

12
Tax Incentives

• Improves the overall well-being of the community
• Contributes to additional sales tax
• Raises the professional skills and educational
  level of the community

13
Conclusion