File #: ID 24-415    Version: 1 Name:
Type: Ordinance
File created: 2/20/2024 In control: City Council
On agenda: 4/2/2024 Final action:
Title: Consider adoption of an ordinance approving an economic development agreement under Chapter 380 of the Local Government Code to promote economic development, increase foot traffic, stimulate business activity and economic growth of the City of Denton between the City of Denton and Fine Arts Theater of Denton, LLC for an amount not to exceed $1,620,869 of Tax Increment Reinvestment Zone One funds; authorizing the expenditure of funds therefor; and providing an effective date. The Downtown Tax Increment Reinvestment Zone Number One Board recommends approval (5-0).
Attachments: 1. Exhibit 1 - Agenda Information Sheet, 2. Exhibit 2 - Project Concept, 3. Exhibit 3 - Incentive Evaluation Matrix, 4. Exhibit 4 - Underwriting Report, 5. Exhibit 5 - Project Impact Report, 6. Exhibit 6 - Ordinance and Contract, 7. Exhibit 7 - Presentation
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AGENDA CAPTION

Title

Consider adoption of an ordinance approving an economic development agreement under Chapter 380 of the Local Government Code to promote economic development, increase foot traffic, stimulate business activity and economic growth of the City of Denton between the City of Denton and Fine Arts Theater of Denton, LLC for an amount not to exceed $1,620,869 of Tax Increment Reinvestment Zone One funds; authorizing the expenditure of funds therefor; and providing an effective date. The Downtown Tax Increment Reinvestment Zone Number One Board recommends approval (5-0).

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