Page 366 - City of Arlington FY19 Adopted Operating Budget

Invest in Our Economy

Goal 1: Enhance Economic Impact Through Development and
Redevelopment Efforts, Partnerships, and Investment Opportunities
Objective 2: Build a Strong and Diverse Business Community
Project Performance Measure(s) City Service Team (Department)
IOE Economic  Capital Investment generated through OED efforts Economic Development and
1.2.5 Development  Number of Jobs created or retained through OED Capital Investment (ED)
Projects efforts
 Number of businesses and projects recruited,
retained, or expanded through OED efforts
Summary:

In an effort to build and sustain Arlington’s tax base, 101 Center Status Date
Economic Development staff will remain focused on
Lease Agreement Drafted 100% Jan. 2015
developing Arlington’s remaining greenfield sites with the
City Incentive Agreements 100% Jan. 2015
highest and best uses. Additionally, redevelopment efforts
Drafted
will continue within the Entertainment District, Great
Southwest Industrial Park, and Downtown and Lamar‐ TIRZ #1 Agreements 100% Jan. 2015
Drafted
Collins areas, among other areas identified as suitable for TIRZ #1 Action on Incentive 100% Feb. 2015
redevelopment. Per the Economic Development Strategy,
Agreements
redevelopment projects will be supported and prioritized
when considered as transformational and having high City Council Action on 100% Mar. 2015
community impact, both being primary economic Lease and related Incentive
Agreements
development goals for the City. These projects must be
Agreements Executed 100% Mar. 2015
game changers, introducing new product into an unproven
area, could stimulate future change, and must be a desired Demolition Permit Issued 100% Apr. 2015
use. Building Permit Issued 100% Nov. 2015
Construction Commenced 100% Dec. 2015
101 Center Certificate of Occupancy 100% Sept. 2018
Type: Downtown redevelopment project Issued
Capital Investment: $45 million
Units: 200+ Arlington Commons Status Date
Deal: Commenced in FY 2014, a Master Development (Ph. IA)
Agreement was executed outlining the City’s commitment Demolition Permit Issued 100% Summer 2014
to the project to bring residential units, ground floor retail, Demolition 100% Spring 2015
and a shared parking garage. Building Permit Issued 100% Mar. 2016
Construction Commenced 100% Apr. 2016
Update: A Tenant CO was issued in September, and an Certificate of Occupancy 100% Sept. 2018
Interior CO permit was issued for the retail bank. Issued

Arlington Commons/East Lamar Redevelopment
Type: Redevelopment of existing apartment complexes (E.
Lamar/Lincoln Drive) and public improvements to Parkway
Central Park
Capital Investment: $45 million
Units: 300+
Deal: The City executed a Master Development
Agreement and Chapter 380 Grant Agreements, providing
fee waivers, grants for redevelopment expense
reimbursement, separate public space improvements, as
well as annual grants equivalent to 90 percent of real

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