Page 222 - N. Richland Hills General Budget

Economic Development

Who we are

The department strives to foster the growth and sustainability of the economic well‐being of North Richland Hills. This
is accomplished by attracting targeted businesses and employment opportunities, facilitating the success of existing
businesses, protecting property values, and revitalizing aging areas of the city. The department promotes quality
development, puts forward a pro‐active business image, and differentiates the city as a progressive and diversified
community.

What do we do

1 Retain and expand targeted business segments 5 Promote city, business and project success
2 Recruit and attract targeted business segments 6 Provide site and building feasibility analysis
3 Revitalize and redevelop targeted areas 7 Provide pre‐development guidance
4 Connect business, developers, investors 8 Protect and grow local business tax base

Council Priorities

x Quality Community Development & Revitalization Sense of Community
Efficient & Effective Transportation System x Targeted Economic Development
Safety and Security x Local & Regional Leadership
Financial Stability x Efficient & Effective Delivery of City Services
x Positive City Image

FY 2019-20 Top Accomplishments

 Finalized plans for the redevelopment of North Hills Mall into City Point, a $187 million mixed use community,
including 70,000 square feet of commercial space, an upscale hotel alongside residential options that will increase
the city's population by ~ 2,500 within a 60 acre development.

 Successfully recruited the city's only steakhouse, Sweetie Pie's Ribeyes, a sister business to Babe's Chicken Dinner
House. The 8,000 square foot facility is the 2nd location (original in Decatur) with an expected large draw from
same market, delivering the same unique experience as Babe's. The restaurant is anticipated to open mid 2020.

 Facilitated 40 office leases representing 101,948 square feet of office space, lowering the vacancy rate by 1%, to
12%. Of the leases, 11 represent the addition of 226 professional jobs.

 Facilitated 42 retail leases representing 296,764 square feet of space, with a net absorption of 66,162 square feet.

 One of 53 Texas communities to receive the Economic Excellence Recognition from the Texas Economic
Development Council. The 10th year in a row for North Richland Hills.

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