Create an economic development plan for Hampton Road, Belt Line Road at Cockrell Hill, and general citywide commercial nodes
City Work Plan
1. Develop a transition plan to go from Type A to Type B Economic Development Corporation | City Manager’s Office | Start FY 2021 Q1 | Complete FY 2021 Q2
2. Develop a land-use plan and market study for Belt Line Road and general citywide commercial nodes | Development Services | Start FY 2021 Q2 | Complete FY 2021 Q4
3. Create an economic development policy for Hampton Road to include a strategy for marketing City-owned land and an incentive policy to encourage targeted economic development in the area| City Manager’s Office | Start FY 2021 Q3 | Complete FY 2022 Q1
4. Develop a city-wide economic development policy to include an incentive policy that encourages retail and restaurant development for Belt Line Road and general City-wide commercial nodes | City Manager’s Office |Start FY 2022 Q1 | Complete FY 2022 Q3
1st Quarter Update
With the approval of Proposition A at the November 30 General Municipal Election, the City is coordinating a transition plan for the Type A Economic Development Corporation to be transitioned into a Type B Economic Development Corporation. The advantage of this change is that the sales tax that the City currently collects for economic development purposes can be used for both job creation and quality of life types of projects. Draft articles of incorporation, bylaws, and all other necessary ordinance changes are being created for review with the DeSoto Economic Development Corporation and the Parks Development Board in January. The full transition plan will be reviewed with the City Council in February with the goal of legally changing the designation of the economic development corporation in the month of March. These changes will expand the potential list of projects eligible for assistance through the new economic development corporation. The City's land-use and market analysis study for the Hampton Road corridor continues with the completion goal of June. Following the completion of that plan, the City will undertake development of economic development policies to incentivize projects consistent with that vision. The City is soliciting interest from firms to complete the land-use and marketing analysis for other commercial nodes in DeSoto. Following completion of that study and analysis, the City will develop economic development policies to incentivize designated projects.