Page 381 - Microsoft Word - FY 2020 Adopted Budget Document

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 General Business Recruitment and  On‐Site Business Visits Economic Development and Capital
1.2.1 Retention  Recruitment Leads Investment (ED)
 Total Projects
Summary:
Approved Agreements Date
The Office of Economic Development is participating in City of Arlington Policy Statement for Tax Oct. 2018
recruitment efforts related to the City’s identified Abatement
targeted industry clusters. The adopted clusters are 1) Professional Services Contract ‐ TIRZ 5 Oct. 2018
Aerospace, 2) Automotive Products, 3) Business and Tax Increment Reinvestment Zone Number Nov. 2018
Professional Services, 4) Medical Devices, and 5) One Term Extension Ordinance
Industrial Machinery and Manufacturing. Consent to Assignment and Modification of Nov. 2018
Tax Abatement Agreement ‐ Phase 1A by and
As outlined in the Economic Development Strategy, the between Lamar Circle, Prince Commons and
Office works to generate leads and recruit companies Monarch Commons
within these industry clusters, which will assist in Professional Services Contract Relating to the Nov. 2018
reaching one of the City’s primary economic Creation of a Tax Increment Reinvestment
development goals – competitive positioning, allowing Zone‐ International Corridor
the City to capture a larger share of high‐wage, high‐ Interlocal Agreement with Tarrant County Nov. 2018
impact growth. Relative to Payment of Professional Planning
Services for the Establishment of a Tax
As recruitment leads are generated and projects arise, Increment Reinvestment Zone
they will be identified and tracked under their respective TIF Board Reappointments (TIRZ 1,5, 6) Dec. 2018
clusters. Staff will continue to develop knowledge of the DR Horton Amended and Restated Chapter Jan. 2019
business climate that may lead to a compelling case for 380 Program Agreement for Economic
industry prospects to locate in Arlington. Development Incentives
Ordinance approving the Amended and Jan. 2019
Targeted Restated Project Plan and Financing Plan for
Industry TIRZ 1
Aerospace Automotive Products Medical Devices Industrial Manufacturing Business and Professional Agreement Jan. 2019
Leads CSI Calendering Chapter 380 Grant Jan. 2019

Assignment of all the rights and obligations

under certain tax abatement agreement
st
1 Quarter 2 3 4 accruing to Medproperties Arlington, LLC
nd
2 Quarter 1 1 4 (Broadstone TRH Texas)
rd
3 Quarter 1 4 2 Appointment of Director for the Viridian May 2019
4 th Q u a r t e r 1 1 3 Municipal Management District
Tax Increment Reinvestment Zone Number May 2019
Five Term Extension Ordinance
Tax Increment Reinvestment Zone Number May 2019
Five Amended Project Plan and Financing Plan
Ordinance
Southwest Restaurant Equipment Amended Aug. 2019
and Restated Tax Abatement Agreement
TIRZ Number One Downtown West Street Aug. 2019
Underpass Mural

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