DOMINION BOULEVARD CORRIDOR STUDY | Chesapeake, Virginia
6 | Summary
The Master Plan “sets the table” physically and philosophically to accomplish these
requirements. It provides places for fostering an innovative business climate, and promotes
new land uses, development patterns and infrastructure that will lead to a great quality of
life. The project’s location next to the Tidewater Community College has the potential to
contribute to creating a skilled and educated workforce – assuming that its curriculum is in
alignment with the City’s vision.
However, the master plan is only one part of a successful implementation plan. Important
to the success of its implementation will be the cooperation and collaboration that can be
fostered and obtained between city government and contributing businesses; the various
governmental agencies that will have ongoing responsibility to execute the master plan;
city government with contributing institutional players such as the regional hospital and
community college; and city government and property developers. As described in the
BBNA Community and Economic Development Plan Guidebook, creating a forward looking
and healthy economy that fosters economics, environment and culture requires innovative
thinking, new attitudes, effective leadership and collaborative approaches.
Funding Sources and Community Strategies
Developing potential funding strategies is critical to creating a realistic and achievable
plan for the Dominion Boulevard Corridor. Below are potential funding sources that are
appropriate for the Study Area.
Public Financing Alternatives:
tax increment financing, which would provide the
necessary gap financing to make redevelopment possible as determined by the
market assessment, but allowing tax revenues to be deferred to support bonds to build
infrastructure on the corridor.
Financial Incentives:
public financing tools, such as TIF, business improvement districts,
public investment fees, and others that will enable the city to direct proceeds from
development into revitalization projects.
Joint Public/Private Development Opportunities:
use of publicly owned land,
contribution of the land and/or low-cost financing to make the development feasible for
private developers.
Public Investment:
capital projects (e.g., streetscape improvements, utlities, parks, or
other community facilities) or operations and maintenance efforts that may improve the
attractiveness and marketability of a corridor segment.
Local Incentives:
land swaps and density bonuses.
State Programs:
grants and other types of incentives to create jobs.
Other Strategies:
• Develop excellent educational facilities to attract students
• Institute a beautification program
• .Improve infrastructure and ensure access to broad band technology
• .Develop tourism attractions and provide visitor information
• Provide technical assistance to businesses
• Provide business incubators
• Promote entrepreneurship
• Promote “cluster strategies”
