Agenda Information Sheet
DEPARTMENT: Economic Development
CM/ ACM: Bryan Langley
Date: November 17, 2017
SUBJECT
Title
Receive a report, hold a discussion, and make a recommendation to Council regarding Capital Improvement Projects in Tax Increment Financing Zone Number One (Downtown TIF).
Body
BACKGROUND
Economic Development staff worked with several City departments to compile information on planned capital improvement projects for the next five years within the Downtown TIF Zone (Exhibit 2). Staff then expanded the request and worked with the departments to develop a list of additional proposed capital improvement projects that could be done within the Downtown TIF Zone in the next five years (Exhibit 2). This group of projects is designed to complete a full capital improvement plan in the Downtown TIF.
Total estimated costs for the planned projects are $11.9 million and total estimated costs for the proposed projects are $35 million.
Staff presented the information on the planned projects to three stakeholder groups (Economic Development Partnership Board, Downtown Task Force, and the Denton Main Street Association Board) to solicit their input on project prioritization. Feedback from the majority within the three groups was consistent in placing parking projects first, sidewalk projects second, and street light projects third. Some stakeholders advocated for the completion of the Industrial Street Park, and others expressed a preference for prioritization of downtown drainage projects. Staff shared the proposed projects with stakeholder groups via email.
Based on feedback from stakeholder groups and other interested citizens, staff recommends the following projects be funded from the Downtown TIF fund and completed:
1. Sidewalks and lighting on the mews streets around the Square (Austin, Walnut, Pecan, with the exception of Austin Street sidewalks, east from McKinney to Oak)
2. North Locust, north of the Square: sidewalks on both sides need repai...
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