Case 1
Economic development and revenue impact: Case of Village of Bradley, IL
The case presents an analysis of economic development and its impact on revenues in the Village of Bradley, IL. It explores how the Village of Bradley, Illinois, used economic development tools and revenue-side budgeting strategies to improve its fiscal health between 2013 and 2025.
The case presents an analysis of economic development incentives and their impact on revenues in the Village of Bradley, IL. It explores how the Village of Bradley, Illinois, used economic development tools and revenue-side budgeting strategies to improve its fiscal health between 2013 and 2025. The Village of Bradley invested in two economic development projects: Perry Farm Park ($4 mln.) and Bradley Sports Complex ($40 mln.). In 2025, the Village of Bradley, Illinois, began planning for the construction of a 90,000-square-foot indoor water park. The preliminary construction cost is expected to be approximately $90 million. Bradley plans to use government-backed bonds to finance this project. In its first year of operation, the waterpark complex is projected to generate $20 million in profit, with $15 million derived from park admissions alone. In ten years, the total profit is projected to be around $94 million. Revenue-related taxes are anticipated to cover the initial construction cost. In addition to its fiscal contributions, the waterpark is expected to create approximately 200 new jobs in Bradley. The project was intended to enhance local tourism, stimulate economic activity, and provide family-oriented recreation opportunities. This case provides the opportunity for discussion about economic development investments and their impact on revenues.
The case illustrates how local governments can recover from fiscal stress, diversify their revenue base, and enhance long-term sustainability through economic development and strategic planning. The intent of this Case study is to conduct an empirical evaluation of the impact of economic development on revenues in the Village of Bradley, IL.
This case study explores a municipal initiative by the Village of Bradley, Illinois, to promote local economic development through the construction of a major recreational facility. In 2025, the Village of Bradley began planning for the construction of a 90,000-square-foot indoor water park. The proposed Bradley Indoor Waterpark is projected to generate significant economic benefits for the community. The preliminary construction cost is expected to be approximately $90 million. Bradley plans to use government-backed bonds to finance this project.
The proposed facility includes a lazy river, wave pool, multi-lane slides, a children’s pool, an adult pool, a surf machine, and a 7,000-square-foot outdoor pool with a floating obstacle course. The project was designed to enhance tourism, attract visitors year-round, stimulate the local economy, and strengthen family-oriented recreational opportunities. Village officials hoped the project would also lead to increased business activity in nearby retail and hospitality sectors, higher property values, and long-term fiscal stability through expanded sales tax revenues.
See attached materials for Case study
Case study_Bradley_Economic Development.docx
Task Description:
The student should conduct a critical analysis of the case study and write a Memo. You are an Economic Development & Special Projects Manager working for the Village of Bradley’s local government. Your task is to write a professional policy memorandum that critically evaluates the indoor water park project as an instrument of local economic development.
Your memo should:
1. Assess the potential of the water park project to generate economic growth, attract visitors, and increase local revenues.
2. Evaluate the incentives and financing mechanisms (e.g., TIF, investment tax credit ) the Village might use to support the project.
3. Identify key risks and challenges associated with the project, including long-term maintenance, fiscal impact, and potential market limitations.
4. Evaluate community benefits that extend beyond financial return, such as quality of life improvements, employment opportunities, and regional collaboration.
5. Propose how the previous investment projects (Perry Farm Park and Bradley Sport Complex) could support or complement the development and success of the new indoor water park.
6. Recommend strategies for monitoring, measuring, and ensuring the projects’ success and sustainability over time.
The case memorandums should be typed, 1.5 interval spaced, Times New Roman 12, with normal margins, and should be around three pages. You may attach additional pages that contain appendices, tables, calculations, etc. However, the three-page’ memorandum must be able to “stand on its own”.