The Investment Framework Group formed to develop a coordinated public investment strategy for the jurisdictions that play funding and regulatory roles across the Corridor. This framework looks comprehensively and long-term at planned investments and development-related policies in the Corridor, providing a more predictable environment for private investment and helping to direct public dollars where they best attract desirable development. Public investments in the Corridor go beyond the line itself and include improved pedestrian connections from surrounding neighborhoods, streetscape enhancements, and other improvements.
The Center for Transit-Oriented Development initiated the Investment Framework Group with representatives of these jurisdictions, supported by local partners Bonestroo (for physical planning and estimation of costs) and Springsted (for financial analysis and public finance tools):
City of Minneapolis, including Mayor R.T. Rybak
City of Saint Paul, including Mayor Chris Coleman
Hennepin County, including Commissioner Peter McLaughlin
Metropolitan Council, including Chair Susan Haigh
Minnesota Housing Finance Agency, including Commissioner Mary Tingerthal
Ramsey County, including Commissioner Jim McDonough
This working group was the force behind creating the regional Corridors of Opportunity initiative, funded by a $5 million grant from the HUD Sustainable Communities program and a more than $15 million package of grants and loans from the Living Cities Integration Initiative. In addition, the Investment Framework concept has also been used in other corridors, such as the Green Line Extension.
The Investment Framework Working Group completed the Central Corridor Investment Framework Report in December 2010. Highlights of the report include: