Page 40 - GrapevineFY24 Adopted Budget

TEXRail commuter rail service continues to make has made a significant impact on tourism in the
downtown area. Ridership has been strong with over 219,000 riders at Grapevine Main Station in
FY23 and a projected 274,000 riders in FY24. To date, the city has contributed $149 million to
Trinity Metro in support of commuter rail.

Continue to pursue economic development opportunities to bring new businesses to Grapevine
In December 2013, the City of Grapevine purchased approximately 185 acres of property in the
northeast portion of the city. It is the intention of the city to conduct a market/feasibility study and
develop a master plan for the property. The city has been successful in marketing the property to
developers, most notably to Kubota and Mercedes Benz, which both signed development deals in
2015.

Other key development deals include THE TRADE GROUP®, which relocated their global
headquarters to Grapevine, Texas. The company has made the Inc. 5000 list of fastest growing
private companies for the past four years and is one of the nation’s leading trade show exhibit and
event companies. Known for its dedication to design excellence, the company provides trade show
exhibit design and fabrication services, state-of-the-art live event planning, event execution and
management.

Paycom Software, Inc., (“Paycom”) an award-winning U.S.-based human capital management
technology provider, relocated its Texas operations center to Grapevine and now occupies
approximately 14 acres across from Kubota’s North American Headquarters.

Major retail and entertainment projects include then first meow Wolf in Texas, Son of a Butcher,
Velvet Taco, Firebirds Woodfired Grill and Portillo’s. In early 2024, a groundbreaking ceremony
will be held for Rock & Brews, music-themed, family-friendly restaurant.

Maintain a healthy General Fund balance of at least 20% annually
The FY24 ending fund balance is projected at $14.5 million and meets the policy requirement of
20% of expenditures.

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