Page 282 - Project Detail Sheet_AdoptedBook

ADOPTED | BUDGET

Economic Development Capital Projects
Department Project Title Project Number
Economic Development Business Improvement and Growth (BIG) Program ED0801
Project Description
This initiative will help North Richland Hills revitalize aging structures along the Rufe Snow Drive, Davis Boulevard and Boulevard 26
corridors south of Mid Cities Boulevard in addition to Glenview Drive and Bedford-Euless Road. The BIG program is designed to
improve the exterior, visibility and presentation of a business. The BIG program is not designed to subsidize corrections to building
code violations that prolong the life of a commercial property. Any BIG project should strive toward increases in sales and/or
revenue for the occupant or property owner. The two basic areas targeted are façade improvements and monument sign
construction.

Project Justification
This program aims to encourage private re-investment in mature corridors of the City. Two separate matching grant programs are
utilized: monument sign construction and façade improvements. Maximum amounts are $20,000 for façade improvements and
$5,000 for monument signs. As of FY 19, the program will have 24 business participants granted the amount of $253,000,
facilitating $4.4 million of commercial façade and sign improvements, a 17 to 1 return. The justification for the additional $50,000 in
funding is to maintain grant capacity for the future as redevelopment and revitalization remains a top Council goal AND the
uncertainty of the current legislative session surrounding revenue caps and the City's ability to fund future services and programs.
NOTE: All funds are sourced from Gas Fund Reserves specifically dedicated to Economic Development activities per Council Gas
Fund Policy.

Project Schedule Beginning Date Ending Date History Fiscal Year Amount
Professional Services Adopted Budget 2007-08 $100,000
Engineering/Design Revision 2009-10 $100,000
Land/ROW Acquisition Adopted Budget 2013-14 $50,000
Construction 10/2007 09/2022 Adopted Budget 2017-18 $100,000
Other Total $350,000
Total Schedule 10/2007 09/2022

Sources of Funds Appr. To Date 2021‐22 Budget 2022‐23 Estimate 2023‐Completion Total Funding
General Obligation Bonds
Certificates of Obligation
Federal/State Grants
Reserves 350,000 0 0 0 $350,000
Sales Tax
Other
Total Funding $350,000 $0 $0 $0 $350,000

Project Costs To Date 2021‐22 Budget 2022‐23 Estimate 2023‐Completion Total Cost
Professional Services
Engineering/Design
Land/ROW Acquisition
Construction 350,000 0 0 0 $350,000
Other
Total Costs $350,000 $0 $0 $0 $350,000
Operating Impact
No additional operating impact is anticipated.

Fiscal Year 2020‐21 2021‐22 2022‐23 2023‐24 2024‐25 Total Impact
Amount $0 $0 $0 $0 $0 $0

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