Page 164 - Hurst FY20 Approved Budget

CITY OF HURST

0233 ECONOMIC
GENERAL FUND ECONOMIC DEVELOPMENT DEVELOPMENT

 Continue to work with Simon Property Group on the highest and best use for the property as we
consider possible diversification
 Continue to work with developer John Palmer and Gardner Capital on redevelopment of southeast
Hurst
 Continue to work with commercial landowners identified as Catalytic Areas 1-7 in the Sustainability
Plan to improve the SE Hurst retail corridors using incentives when necessary
 Work with landlords and their brokers to see the final few parcels occupied and the successful
completion of the “50 yard line” redevelopment
• Work with the businesses negatively impacted by the highway expansion to “win back” customers lost
due to the construction encumbrance as well as the extreme amount of new competition created with
the openings of Glade Parks and Presidio Town Center shopping centers.
 Consider creative, performance based 380 agreements when justified to see major redevelopment
occur such as Pipeline Plaza Shopping Center; left vacant as a result of Toys R Us national bankruptcy

GOALS, OBJECTIVES & PERFORMANCE MEASURES

Council Priorities: Economic Development

Goals:

• Target businesses that are underrepresented in the area but growing in the Region
• Continue aggressive business retention and development programs
• Continue to strengthen relationship with Mall to remain vital and community friendly
• Continue to utilize state-of-the-art technology for Economic Development
• Work with staff to complete final recommendations for the Sustainability Plan and implement action
plans identified
• Work with the Hurst Conference Center to enhance its volume and take full advantage of its new ,
connected conference center hotel

Objectives:

• Look at desirable businesses for development and redevelopment opportunities as identified in the
Sustainability Plan done for SE Hurst
 10 + Years Long Term

• Focus development efforts towards the successful Redevelopment of the 50 yard line and SE Hurst
 0-3 Years Short Term

• Work closely with retail and real estate groups to determine who is in expansion mode
 0-3 Years Short Term

148

84