Creating Neighborliness, Creating Entrepreneurship, in the Walnut Way community

Playing a key role in the economic development of the Walnut Way neighborhood is the local Business Improvement District (or BID for short). The function of the BID is basically to collect all or a portion of the property taxes of the businesses located within the area of the BID, and reinvest it directly into the neighborhood through public improvement projects such as landscaping and beautification, neighborhood marketing efforts, recruiting new businesses to the area, and other improvement projects. The BID that represents the Walnut Way area is BID#32, which mostly covers portions of North Avenue and Fond du Lac Avenue. Sharon has been invited to sit on the board of BID#32, and describes it as particularly “energized and active” in creating and encouraging new entrepreneurs in the community, being comprised of mostly small business owners. A central strategy and goal of the BID in expanding entrepreneurship in the area is to create a core of businesses that not only serves the local neighborhood, but is an attraction and a point of destination for the larger community.

Sharon does not see that goal as being merely to return the area to the prosperity it once enjoyed, but to create something completely new and modern for the 21st century, a community that is not only vibrant economically but socially just. Every small business, whether it is a corner market or a landscape photographer, helps contribute to the overall health and success of the entire community. Another key aspect of the economic stability of the area is local ownership and investment. The Walnut Way organization encourages local investment by providing a network of support, ranging from providing assistance with locating properties to invest in to obtaining loans to recommending what contractors to use.



Many homes show signs of remodeling underway on 17th Street




One of the many new homes in the Walnut Way community

In addition to providing assistance to local businesses and encouraging economic growth, another goal of the Walnut Way organization is to provide for the long-term sustainability of the economically diverse community. A big problem of local residents was the inability to obtain loans due to low property values to borrow against. When Sharon returned to the neighborhood in 1997, her 3,000 square foot duplex was only worth $5,000! The improvements and investment brought about by the organization have now provided homeowners with more borrowing power by raising property values. They have also been at the same time searching out and promoting financial assistance to lower income residents to prevent gentrification. They support a WHEDA program for seniors that allow them to take out a loan against the value of their property to be able to pay the higher property taxes, the loan does not have to be repaid until the home is sold. Walnut Way is also working to promote a property tax freeze for seniors as another option available to allow them to stay in the community. For those who have especially low incomes, the organization has worked with the Housing Authority to construct affordable homes and lofts in the community.