Agenda Information Sheet
DEPARTMENT: Economic Development
CM/ DCM/ ACM: Bryan Langley
Date: Sept. 13, 2017
SUBJECT
Title
Receive a report and hold a discussion regarding the Denton Tax Increment Financing Reinvestment Zone Number One (Downtown TIF).
Body
BACKGROUND
At the request of the City Council, staff presented a work session regarding the Downtown TIF in early June 2017, which was followed by a public hearing regarding the Downtown TIF later that month. Feedback from Councilmembers, Downtown stakeholders, and citizens spanned a wide range of opinions regarding whether or not changes should be made to the Downtown TIF.
Staff was directed to gather more information on the recent history of the drafting and implementation of Downtown plans (Exhibit 1) and to work with City departments to determine what capital improvement projects (CIP) are slated for the Downtown TIF within the next five years (Exhibit 2). Staff will share this information with the Downtown Task Force on Sept. 14 and the Main Street Association on Sept. 18 to gather their input. Another work session will be presented to Council on October 10.
PRIOR ACTION/REVIEW (Council, Boards, Commissions)
June 6, 2017 - Staff presented a work session to Council on the Downtown TIF
June 20, 2017 - Council held a public hearing regarding the Downtown TIF
STRATEGIC PLAN RELATIONSHIP
The City of Denton's Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Economic Development
Related Goal: 3.4 Encourage development, redevelopment, recruitment, and r...
Click here for full text