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ADOPTED | BUDGET

COUNCIL GOALS & ACCOMPLISHMENTS

COUNCIL GOAL :

TARGETED ECONOMIC DEVELOPMENT

Strive to maintain and build our vibrant and diverse
economic base.

Objectives:

 Attract businesses and higher wage, high-skill primary jobs that positively contribute to our
community

 Promote diversity in economic development

 Maximize use of underutilized real estate and business locations through strategic
land planning and management

 Retain and grow our current businesses

Accomplishments:

 International Economic Development Council (IEDC) award honoring the city’s Business
Improvement and Growth (BIG) Program aimed at revitalizing mature commercial corridors.
To date, 26 projects have been completed resulting in $4.7 million in private investment.

 Successfully negotiated the transition of the former Alamo Drafthouse Cinema, retaining the
theater use with a commitment from B&B Theatres.

 Office space - facilitated 35 office leases representing 105,000 square feet, lowering the
vacancy rate by 1%, to 9%, including 29,000 square feet of new construction.

 Retail space - facilitated 34 retail/restaurant leases representing 180,000 square feet,
lowering the vacancy to 10%, down from a pandemic high of 13% in Q1 2021.

 As of June 30, welcomed 130 new businesses, on pace for 175 new businesses this fiscal
year, the most in recent history.

86 NRH | TEXAS