FEDC looking for more stores

During its regular Feb. 13, 2019 meeting, the Forney Economic Development Corp. met and in summary: approved redevelopment grant, and efforts to attract large retailers.

  • Financial report: Mr. Burrus 1/3 through year, trending few percent ahead on revenue & 5% above last year. On expenses: spent some money. Mr. Ketteman said it's a matter of when invoices come in.
  • Executive Director's report: NTCOG Econ. Dev. Committee, goes back to his time in Granbury - must have strategic plan to get funds from Federal EDA, they crafted a plan, which is used across the metroplex. He was the guest speaker at FANG, he gave them a case study about restaurant selection. Pre-con meeting w/ IronT / pond reconstruction; met w/ property owner to expand sewer service along 1641.
  • Approved a redevelopment grant for 112 W. Trinity for $25k.
        Mr. Ketteman said 112 W. Trinity, behind Crumbzz, Ms. Lopez wants to move her business there, already zoned commercial. Ms. Lopez said she bought this 11? years ago, works here in Forney and Dallas, like to put parking lot in the partial lot, has 2 driveways. Mr. Tayamen how many stations? 3 FT, 2 PT. No plans for receptionist. He had his own hair business, he's asking because of parking - she will have 8 total, might have room for 6 more. Mr. Ketteman said she meets city requirements. Mr. McGregor said she's worked with Mr. Morgan to meet all regulations. Could expand into garage later. Mr. Ketteman said additional parking could be use for after hours downtown parking.
  • Approved selecting Eric Davis Engineering re: proposals for schematic renderings of E. Main St. and moving funds.
        Mr. Ketteman said in Nov. joint workshop meeting, one item was downtown area. Staff working on how to close gap between downtown & Main / Chestnut. Would have to move $ from to professional services. Ms. Lewis asked about time-frame: 3-6 months. Entire development up to 5 years. Some properties are for sale in the area. Mr. Tayamen asked about signage to mark the area; Mr. Ketteman said boulder signs are being built, nothing for this area. Get a lot of inquiries to be downtown, but nothing available. Mr. McGregor said council favors mixed-use, upstairs residential. Mr. Ketteman said biggest difference is Eric Davis is here.
  • Approved funding meeting facilitation services for ICSC RECON.
        Mr. McGregor said at shows have noticed more interest in Forney, but difficult to setup meetings. Have 25 acres Racetrac, 70 at Kroger. They talked to persons in the area that do EDC consulting, this firm is the only response to requests. Both members were in EDCs before. The proposal is to provide 10 meetings, at 2k per 5 meetings. Mr. Ketteman spoke highly of Mr. Gandy. This is not a request for more money, haven't used any of the medical incentives, could just move funds around. Mr. Tayamen asked if this was a step up to more professionalism requiring more meeting, if things were getting better. Mr. McGregor said have at previous ICSC had many requests for 12-15k buildings. They will ask for meetings with entertainment-type companies. Mr. Ketteman said sales tax revenue from one business could pay for this.
  • Approved $5k for retail trade area study for "Project Circus" to be done by e-sites.
        Mr. McGregor said will also move fund from medical for this - they met w/ a retailer, which is now project circus, they want a trade area study showing who comes into Forney to shop. This will evaluate nearby cities and what market share could achieve here in Forney. Mr. Ketteman said they could pay for this, they want to prove Forney can do it and show commitment. Mr. Burrus asked if data from this could help with other recruitments - Mr. Ketteman said yes, this retailer will be an anchor, a well-known retailer. They want to be S. of 80; Mr. McGregor added up subdivisions, including Crandall & Mesquite, about 62k people when built out. This study is site-specific for this retailer.
  • Held a 48-minute executive session re:
    • First Amendment to Purchase and Sale Agreement and Amendment to Fifth Correction of Deed without Warranty and Partial Release of Right of Reverter between the FEDC and LCG Hwy 80, LLC.

  • Approved item as directed by city attorney. This is for property Raising Canes is on.
  • Mr. McGregor mentioned the EDC table at chamber banquet.
  • Adjourned at 2008.
Wednesday, 2019, February 13