Economic Transformation Strategies and Community Revitalization Sample Clauses

Economic Transformation Strategies and Community Revitalization. The local MainStreet organization is required to set three (3) NMMS-approved Economic Transformation Strategies (ETS) for the District based on one of the adopted economic development plans. Of the three ETS, one should be dedicated to organizational capacity building and is not directly related to specific economic development goals. An annual work plan is developed based on the three (3) ETS. All work in the “Main Street Four-Point Approach®” (Organization, Design, Promotion, and Economic Vitality), should directly support outcomes established under the ETS strategies. Work teams, task forces or committees are established to implement projects that advance each strategy. The focus of the annual performance review of each local organization will be based on the positive outcomes of the Board and staff in meeting performance metrics in the annual work plan related to each ETS strategy and the engagement of each of the Four Points by the organization in meeting each strategy. ETS strategies should be concrete, specifically defined, and achievable with the existing resources of the local organization. Local resources include volunteers established as committees/taskforces/work teams, funding, and adopted revitalization and redevelopment tools necessary for successful completion of each of the annual strategies. Requests for NMMS services, resources and support are available to help achieve these annual economic development strategies. Annual strategies are derived from: • For Main Street America Affiliate or Accredited programs, or State Authorized Arts & Cultural Districts: o Adopted District Master Plans, Metropolitan Redevelopment Area Plans, District Cultural Economic Development Plans • For communities engaged in the New Mexico MainStreet Accelerator or Arts & Cultural District Start- Up process: o NMMS Readiness Assessment and/or Resource Team Report o Other Accelerator or Start-Up benchmarks established by NMMS Based on designation of the local MainStreet and/or Arts & Cultural District organization as a Main Street America Affiliate™, Main Street America Accredited™ program, NMMS will provide professional assistance and support through the Main Street Four-Point Approach® tied to ETS’s and annual work plans via a service request form submitted to NMMS. NMMS will work with the local governing body and the local organization to identify and apply for funding for planning and infrastructure/capital investments within the district identified as priority ...
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