Adopted as of February 27, 2009
MISSION & PURPOSE STATEMENT
The New London Development Corporation is a non-profit community development corporation comprised of citizens, business owners and community leaders of New London, Connecticut. Its purpose is to promote and improve the economic health of New London and thereby improve the quality of life for its citizens and the entire region. The Corporation through its members, directors and officers seek to accomplish our goals through the united leadership of this diverse community, the support of state and national leaders and vigorous public involvement.
STATEMENT OF GOALS
The ultimate goal of economic development is the benefit it renders to the community at large. There is a direct and inevitable link between economic development and an improving quality of life at every level of our diverse population. A vibrant economy is the financial basis that will enable significant changes to flourish within New London in the areas of employment, quality education and housing and homeownership opportunities. Realizing that even the worthiest goals of a community are at times subject to the limitations imposed by prevailing economic conditions in the economies of the region, the State and the Nation, the goals of the Corporation for the period of this Strategic Plan shall be focused on the following three critical elements of future economic health and vitality of New London:
GOALS
I. Economic Development
Statement of Goal
Continue to pursue implementation of the Fort Trumbull Municipal Development Plan by concentration on those aspects of the Plan as are deemed most feasible in the current economic climate. Support and partner with the City Council and staff and other organizations to encourage economic development opportunities in other areas of the City.
Strategy
Facilitate the location of the National Coast Guard Museum at Fort Trumbull and seek implementation of such other aspects of the Fort Trumbull Municipal Development Plan as support the National Coast Guard Museum when and as opportunities to do so afford themselves
Tactics
• Work with the State of Connecticut Department of Economic and Community Development to implement the Fort Trumbull Municipal Development Plan in accordance with financing plans and budgets based upon a phased program of work to be developed with reference to the National Coast Guard Museum at Fort Trumbull.
• Work with the Executive and Legislative branches of the State of Connecticut to support the National Coast Guard Museum at Fort Trumbull and the implementation of the Fort Trumbull Municipal Development Plan.
• Work with the Connecticut Federal delegation to support the National Coast Guard Museum at Fort Trumbull.
• Partner with the City Council and City Manager of New London to support the National Coast Guard Museum at Fort Trumbull and the implementation of the Fort Trumbull Municipal Development Plan.
• Partner with the United States Coast Guard Foundation (the “Foundation”) to support the National Coast Guard Museum at Fort Trumbull.
• Partner with the United States Coast Guard Museum Association (the “Association”) to support the National Coast Guard Museum at Fort Trumbull.
• Defer to the Foundation and the Association with respect to all matters involving fund raising and the solicitation of donations from individual and corporate donors in support of the National Coast Guard Museum at Fort Trumbull.
• Receive and evaluate proposals from developers for residential and hotel developments adjacent to and nearby the National Coast Guard Museum site.
• Provide planning and development assistance to support relocation of the fishing business currently located at Fort Trumbull Wharf adjacent to the National Coast Guard Museum site.
• Work with the City in the preparation of funding requests for the purpose of completing environmental assessments of Fort Trumbull Gateway Parcels along Howard Street.
Strategy
Support the development of the State Pier area.
Tactics
• Leverage relocation resources to enhance the presence and operation of the fishing industry within the State Pier area.
• Provide planning and development assistance to support expansion of the fishing industry at State Pier.
Strategy
In consultation with the City Council and the City Manager, assist and support the City of New London with such economic development initiatives as the City seeks support, are consistent with NLDC’s mission and purpose and are financially prudent to implement.
Tactics
• Partner with other agencies and organizations having goals similar to those of the Corporation
• Pool resources with such partners.
• Upon request, work with the City Manager and City Staff to identify economic development projects for which NLDC can provide such assistance and support.
• Continue funding of the Downtown Investment Initiative for a period of one year.
II. Housing Development
Statement of Goal
Increase housing opportunities and improve the housing stock of New London.
Strategy
Revitalize neighborhoods through rehabilitation and reuse of the existing housing stock in the City of New London, and appropriate infill construction of new homes in established neighborhoods.
Tactics
• Continue operation of the House New London program in order to promote home ownership, especially among first-time homebuyers, and strengthen city neighborhoods.
• Work to develop financial resources to continue, and expand the House New London program.
• Support programs such as the OIC Homebuyer Education Program that provides homeownership, financial fitness and landlord training, and strengthens House New London efforts to promote home ownership.
III Strategic Planning
Statement of Goal
Continue the strategic planning process in a manner that is sensitive to the needs and opportunities of the future through continued assessment of the local business, social and political climate, and seek the support of local and regional stakeholders’ in funding the organization and its projects.
Strategy
Shift from being an organization exclusively dependent on a single state-funded municipal development project to one that is a more diversified and responsive to changing economic opportunities.
Tactics
• While remaining fully committed to the completion of the Fort Trumbull Municipal Development Plan, recruit additional NLDC membership for the purpose of enlisting financial support for the day to day operating expenses of the Corporation that are outside the Fort Trumbull Project.
• Reconstitute the NLDC Board of Directors to create more proactive direction and support for the organization.
• Evaluate and update the strategies and tactics of the strategic plan annually.
Strategy
Analyze and implement new and proven approaches to the economic development strategies and tactics identified in this strategic plan.
Tactics
• Invite state and national experts and practitioners in real estate development, planning, finance and other economic development areas to share their experiences and lessons learned with the NLDC membership, Board and local stakeholders.
