In the following interview, Holmes tells why he and his company are willing to pour so much time and energy into revitalizing downtown Dayton's riverfront.
DDN: So far the Reynolds Foundation, the Miami Conservancy District and the Metro Parks District have pledged a combined $2 million to the riverfront plan. Where's the rest of the money coming from?
Holmes: We've got requests into the state. (Rep.) Tony Hall (D-Dayton) thinks he's found some sources from a federal standpoint. We're asking the county for a certain amount of dollars. It's not all nailed down, but hopefully we can piece it around and see how it all fits. A lot of people have done well on the stock market. We're going to mount a very comprehensive campaign.
DDN: What will be your sales pitch for contributions?
Holmes: The riverfront is a fantastic asset, and we've known it for a long time and it needs to be developed to its full potential. It can reinvigorate the city. By staging it properly we can prime the pump for private investment, which will create jobs, which will create people living downtown.
DDN: What will be your personal contribution?
Holmes: My personal contribution begins with a vast amount of time and energy. What I do privately, Nancy and I haven't discussed yet. I don't think that's where my leverage is, really. My leverage is trying to energize the community around this and tap the major organizations.
DDN: What other companies would you like to see involved?
Holmes: We've got to tap all the major companies in this community. But it's not just those. Someone told me the other day that we've got 15,000 millionaires in the community. So where are they? We've got to create a strong fund-raising cabinet to reach those kind of contacts. This is a project that has value to all those outlying areas. We've got to take a road show out to those various communities and get them on board. We can't have a strong region without a strong center city.
DDN: What are downtown's prospects for survival if this plan collapses?
Holmes: I don't ever say that if this one thing doesn't happen then it all comes tumbling down. But clearly the city's being tested. Clearly the trends we've seen have not been encouraging in terms of activity or vitality. This is a pivotal point, a fork in the road and a real opportunity to turn the whole community around.
DDN: Dayton has a spotty history when it comes to civic projects and riverfront redevelopment has been talked about for about 40 years. What makes you believe this will succeed?
Holmes: The difference is how we've built consensus around it. We have broad base of support. The mayor is 100 percent on board. This project is having a galvanizing effect - it's truly got everyone behind it. I know of no detractors. (Dayton City Manager) Valerie Lemmie walked over and said, 'Hey, can I give you a big hug?' We are absolutely committed to bringing this through and bringing it to completion. There was never a downtown Dayton partnership before, never that catalyst to bring together public and private sectors and bring together community leaders. I think this community is hungry to make something happen now. This isn't just a pretty park. It's a set of well-timed investments that makes that particular asset attractive and draws in people from outside communities and enhances the value and vitality of that area, which in turn primes the pump for private investment. The dial is already moving. This is going to be an attractive place.
DDN: You want to build river access while the city approves things like the Volunteers of America halfway house a block away from your headquarters. Why do you devote so much effort to downtown?
Holmes: It's personal. I don't want to live in a losing community. I don't think anyone does. As far as (the location of the halfway house), it's unfortunate, but I think that problem will be corrected very soon.
DDN: What will shareholders think of the company's heavy involvement in a project like this?
Holmes: This is not money taken from our earnings per share. This is money taken out of our foundation and it's money that won't impact our market valuation. We've always been involved in the community. You can't just sit in your own sandbox and not worry about the world around you. Are you in business for the community or for profit? I believe you're in business for a blend of both.
DDN: Your headquarters isn't even on the Great Miami River. What does Reynolds get out of this?
Holmes: It's not about Reynolds, but there are things that Reynolds gets out of it, just like any business in this community. Our business is driven by people. We've got to be able to attract people of high caliber to an attractive community.
BILL REINKE/DAYTON DAILY NEWS
Betting on the Great Miami River