Page 422 - Microsoft Word - FY 2022 Adopted Budget Document
P. 422

Return to Table of Contents



                                              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 Development        Recruitment Leads               Economic Development and Capital
             1.2.6  Projects                   Leads to Prospects              Investment (ED)
                                               On‐Site Business Visits
             Summary:
                                                                              Urban Union            Date
             To build and sustain Arlington’s tax base, Economic               (Phase 3)
             Development staff will remain focused on developing     Building Permit Issued        May 2018
             Arlington’s remaining greenfield sites with the highest and   Certificate of Occupancy Issued   Sept. 2019
             best uses.  Additionally, redevelopment efforts will continue    Urban Front            Date
             within the Entertainment District, Great Southwest Industrial     (Phase 4)
             Park, and Downtown and Lamar‐Collins areas, among other   Agreement Drafted           Mar. 2020
             areas identified as suitable for redevelopment.  Per the
                                                                     Agreement Approved by TIRZ    June 2020
             Economic Development Strategy, redevelopment projects will   Board.
             be supported and prioritized when considered as         Agreement Approved by Council   June 2020
             transformational and having high community impact, both   First Amendment to Purchase   Sept. 2020
             being primary economic development goals for the City.
                                                                     Option Agreement
             These projects must be game changers, introducing new   Building Permit               Pending
             product into an unproven area, have the ability to stimulate
             future change, and must be a desired use.
                                                                       Columbia Medical Center of    Date
             Urban Union                                                 Arlington (MCA) Project
                                                                     Building Permit Issued (Phase I)   May 2016
             Type: Redevelopment of buildings near the intersections of
             Division St., East St., and Front St in Downtown Arlington    Certificate of Occupancy Issued   June 2019
                                                                     (Phase I)
             Capital Investment: $20 million
             Size: 60,000 sq. ft.                                    Building permit Issued (Phase II)   July 2016
             Deal: Located in Tax Increment Reinvestment Zone #1, the   Fire Permit                Dec. 2020
             project will receive TIRZ #1 funding to assist in the public   Fire Permits Issued    Feb. 2021
             improvement costs associated with the development.      Phase II Project Complete (CO   Pending
                                                                     Issued)
             Update:
             The developer for Urban Front has been working to identify     General Motors           Date
             new tenants for the new spaces that will be created.  A new   Building Permit Issued   June 2013
             professional office building has been approved by the TIRZ #1   Certificate of Occupancy Issued   Oct. 2019
             Board will serve as a catalyst for the completion of the Urban   Sewer Line Design Complete   Pending
             Front Development.                                      Conveyor Line                 TBA

             Columbia Medical Center of Arlington Subsidiary, LP (MCA)   Medal of Honor Museum       Date
             (Healthcare/Medical)                                    Architecture Firm Selected    Jan. 2020
             Type: Medical Hospital                                  Board of Directors Selected   Jan. 2020
             Capital Investment: $90 million                         Lease Agreement               Jan. 2021
             Size: 20,000 sq. ft. expansion                          Zoning Approved               Pending
             Employees: 50
                                                                     Building Permit Issued        Pending
             Deal:   The City provided a real property tax abatement to   Certificate of Occupancy Issued   Pending
             offset some of MCA’s construction costs.






                                                             36
   417   418   419   420   421   422   423   424   425   426   427