Page 43 - CityofGrapevineFY25AdoptedBudget

TEXRail commuter rail service continues to make has made a significant impact on tourism in the
downtown area. Ridership has been strong with over 102,000 riders at Grapevine Main Station in
FY24 . To date, the city has contributed $163 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 Paycom, Southland Holdings, Kubota and Mercedes Benz.

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 the first Meow Wolf in Texas, Son of a Butcher,
Velvet Taco, Firebirds Woodfired Grill, and Rock & Brews. Construction is nearly complete for
Portillo’s which is expected to open in December.

Maintain a healthy General Fund balance of at least 20% annually
The FY25 ending fund balance is projected at $19.5 million and meets the policy requirement of
20% of expenditures.

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